Palm-Scanning Blockchain Humanity Protocol Receives Funding for Testnet Launch
Humanity Protocol, a blockchain project that focuses on palm-scanning for digital identity, has secured funds to enhance the scalability, accessibility, and efficiency of its platform ahead of the testnet launch. The project utilizes cutting-edge palm recognition technology to establish a Proof of Humanity for web3 applications while ensuring user privacy through zero-knowledge proofs. This cryptographic approach allows for information verification without revealing sensitive data.
A Significant Milestone in the Journey
Terence Kwok, the founder of Humanity Protocol, expressed his excitement about the funding, describing it as a significant milestone in their journey. The project is dedicated to building a human-centric blockchain that empowers individuals with control over their digital identity.
Empowering Users with Complete Ownership
The Humanity Protocol is built on a zkEVM layer 2 blockchain using the Polygon Chain Development Kit. Its ultimate goal is to provide users with complete ownership over their data and identity, ensuring that they have full control and sovereignty over their personal information.
Worldcoin: A Biometric-Based Approach to Digital Identification
Another project exploring biometric-based digital identification is Worldcoin, led by OpenAI CEO Sam Altman. Worldcoin aims to create a Global ID network through iris scanning and incentivizes engagement with cryptocurrency rewards. However, this approach has raised concerns regarding regulatory compliance and data privacy in several countries. As a result, Worldcoin’s Orb verification program has been discontinued in India, Brazil, and France, and the project is currently under examination by Hong Kong’s Privacy Commissioner.
Investors Backing Humanity Protocol
The funding for Humanity Protocol’s testnet launch comes from various investors and venture capital firms who believe in the project’s potential. Some notable investors include:
- Polygon Co-Founder Sandeep Nailwal
- Animoca Brands Co-Founder Yat Siu
- Hashed
- CMCC
- Cypher Capital
- Foresight Ventures
- Mechanism Capital
Hot Take: Balancing Biometrics and Privacy Concerns in Digital Identity
The use of biometric data for digital identification has its advantages and challenges. While projects like Humanity Protocol and Worldcoin strive to empower individuals with secure and user-controlled identity solutions, they also face regulatory scrutiny and privacy concerns. Finding the right balance between convenience, security, and privacy will be crucial for the widespread adoption of such technologies.
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