Worldcoin Well Finds Its Funding

Posted in: Archive
March 12, 2014 8:06 AM UTC

The Worldcoin community has become a project sponsor for The Water Project.

A few weeks ago, I made a post about the troubles facing Worldcoin’s Well Project. Although the Worldcoin community had raised enough money to pay for a new well in Africa through the Water Project, a price in the price of worldcoins led to that project actually only ended up with half of the $10,000 it needed to get started. To be fair, the collapse in the worldcoin price came at a time when pretty much all cryptocurrencies were falling in price, including bitcoins. After that setback, the Worldcoin community was able to put their heads together and think of a solution that could work for everyone.

Worldcoin Regroups

The Worldcoin community has had a rough ride over the past few weeks, but it seems like they’re finally getting everything back in order. The Scharmbuck debacle definitely didn’t help the cause of this new cryptocurrency, but the various charitable campaigns they have in the pipeline should keep it relevant for now. Judging from their new leadership and transparent committee meetings, it seems that this altcoin is ready to move in a new direction. Although Worldcoin still faces an uphill battle when it comes to reclaiming its spot near the top of the cryptocurrency charts, they’ve been able to creep their way back into the top 20 and still remain somewhat relevant in the overall cryptocurrency conversation.

Finishing Off the Well Funding

The Worldcoin community was actually able to put together the rest of the funds needed to create a new well system in Kenya rather quickly. This should not come as a surprise because their original funding campaign was finished within a few hours. This second phase of funding was kickstarted by Brandon Brown, who decided to match every other donation that came in through the Worldcoin community. The Water Project website had actually been updated to accept Bitcoin donations, which means most of the Worldcoin community just needed to convert to Bitcoin before they were able to make a donation on the Worldcoin Well’s official project page.

Details on the Well Project

The well from the Worldcoin community will be placed in Kenya, and it is estimated that it will be completed by the end of September. Although certain details, such as the well’s specific location, have not yet been made available, the progress of the new well system can be found on the project’s page. It would also be a good idea to keep an eye on the Worldcoin Alliance website because these guys should have more charitable events popping up in the near future.

Last modified: June 13, 2020 9:28 PM UTC

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Kyle Torpey @kyletorpey

Kyle is a freelance Bitcoin writer and the Marketing Director for Bitcloud. His work has been featured on Business Insider, VICE Motherboard, Let's Talk Bitcoin, and RT's Keiser Report . You can follow him on Twitter (@kyletorpey) or send him an email.