The palm scan identity protocol is funded by more than 20 VCs
Backed by big crypto names like Animoca Brands and Polygon, Humanity Protocol has announced that it has completed an investment round and secured funding from a venture capital fund in the crypto space.
In the year The protocol claims to have received significant funding from more than 20 crypto-focused venture capital funds, but did not name all of its investors. The protocol also did not disclose the funds raised from the fundraising round.
Humanity Protocol Announces Strategic Funding to Build Humanity Layer for Web 3
Read it all here: https://t.co/dN9m6m62PO
— Humanityprot (@Humanityprot) February 28, 2024
Although he did not mention the details, he said that the project was developed in collaboration with Animoka Brands and Polygon Labs. The company emphasized that Animoka Brands Executive Chairman Yat Siu and Polygon Founder Sandeep Nailwal are personally involved in funding the project.
The project focuses on digital identity for Web3, incorporating palm recognition technology with polygon zero-knowledge proofs (ZK-proofs). The project aims to provide a non-invasive alternative to iris scans, and is taking a jab at the popular eyeball scanning project WorldCoin.
Terrence Kwok, founder of Humanity Protocol, said the company believes “technology should enhance, not diminish, human potential.” He pointed out that they are working to bring human-centric blockchain to the world.
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Meanwhile, the WorldCoin project, which operates on the same premise, has been under scrutiny from various authorities around the world. In the year On July 28, 2023, France's National Informatics and Freedom Commission questioned the legality of Worldcoin's data collection methods. In the year On July 31, 2023, it was announced that Germany's privacy watchdog had been investigating WorldCoin since 2022. The Kenyan government has suspended the project on August 2, 2023 to prevent it from endangering its citizens.
Recently, Hong Kong's Office of the Personal Information Privacy Commissioner announced an investigation into Worldcoin. On January 31, the PCPD said it executed search warrants and entered six WorldCoin premises in Hong Kong as part of the project's investigation. The privacy watchdog has expressed concern about WorldCoin's data collection practices, which may be in breach of the region's personal data regulations.
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