OpenAI CEO Sam Altman has reaffirmed his commitment to the cryptocurrency project Worldcoin, amidst reports that the company is actively seeking $50 million in funding. Worldcoin’s ambitious goal is to establish a global identity and financial network, enticing over 2.6 million individuals to undergo iris scans with its “orb” devices in exchange for a digital ID and complimentary cryptocurrency.

Altman addressed questions about Worldcoin’s funding in a virtual Q&A session hosted by fintech-centric investment bank FT Partners. The clarification comes in the wake of a report from crypto news outlet The Block, which revealed that Tools For Humanity, the entity behind Worldcoin, was in the process of raising $50 million from potential investors. The funding is reportedly being generated by selling discounted crypto tokens associated with the Worldcoin project.

Altman emphasized the project’s broader vision, stating, “In a world with a lot of AI, knowing who is human matters more and more. The belief was and is that as AI becomes an increasingly important part of our lives… the ability to identify unique humans was going to be more and more important.”

Worldcoin had previously secured $115 million in a Series C funding round, led by Blockchain Capital and featuring participation from a16z crypto and Bain Capital Crypto. The project has drawn regulatory scrutiny, with authorities in the United Kingdom and Germany expressing interest and investigating Worldcoin’s activities since its launch in July.

A spokesperson for Worldcoin has yet to respond to requests for comments on The Block’s funding report. The company’s dedication to blending cryptocurrency with identity verification continues to be a focal point, with Altman reiterating its significance in an increasingly AI-driven world.