Tools for Humanity, the developer behind the eyeball-scanning crypto startup Worldcoin, today announced a $115 million fundraise led by Blockchain Capital to accelerate the growth of its research and development and global reach.

This news confirms a report earlier this month that Sam Altman, co-founder of Worldcoin and chief executive of artificial intelligence company OpenAI LP, was in talks with investors to raise funds. Andreessen Horowitz’s crypto arm a16z, Bain Capital Crypto and Distributed Global also joined in the Series C funding round.

Worldcoin seeks to provide people with a globally distributed cryptocurrency and an inclusive identity network, to do this there needs to be a secure way to identify people. To do this, Worldcoin provides iris scanners called “Orbs,” which produce a unique ID for each person called “World ID,” and provides them with a cryptocurrency called World tokens. This creates a biometric identification for each individual, which both prevents multiple signups and proves that they are not a bot.

The vision of the project is that it will become “a public utility that will be owned by everyone regardless of their background or economic status.”

The use of iris-scanning biometrics and the crypto network that Worldcoin produces can help with two issues raised by the proliferation of AI. First is that by having biometric security, each individual can be sure to be known to be a human and not a sophisticated AI bot. Second, Worldcoin says, it could build a world-spanning network for universal basic income even as AI bots begin to disrupt job markets.

“As we embark on the age of AI, it is imperative that individuals are able to maintain personal privacy while proving their humanness,” said Alex Blania, co-founder and CEO of Tools for Humanity and a contributor to Worldcoin. “In doing so we can help ensure that everyone can realize the financial benefits that AI is poised to deliver.”

Altman himself spoke about the future effects of AI on job markets to lawmakers during a Senate hearing earlier this month. “We understand that new AI tools can have profound impacts on the labor market,” Altman said. “We expect significant economic impacts from AI in the near-term, including a mix of increased productivity for individual users, job creation, job transformation and job displacement.”

The funding will go toward developing World App, a digital wallet that will allow users to hold Worldcoin tokens. Once users have joined the network, they will be able to fill the app’s wallet with cryptocurrency. They can use the tokens to buy and sell them for services and goods by sending them to friends and family using their phone as a contact.

Since its launch, more than 1.5 million people have joined the beta phase of World App. It currently processes more than 60,000 transactions a day for more than 600,000 monthly active users.

Image: Tools for Humanity