Humanity Protocol raises $20 million in round led by Pantera Capital and Jump Crypto
- $20 million investment strengthens Humanity Protocol
- Identity verification with palm biometrics
- Own token to be launched soon to boost the ecosystem
Humanity Protocol, a company focused on blockchain-based digital identity verification, has announced the completion of a $20 million funding round led by Pantera Capital and Jump Crypto. With this new investment, the startup has reached a fully diluted valuation of $1,1 billion. The project’s main goal is to provide a secure and decentralized digital identity authentication system, using palm scanning to ensure that online accounts belong to real users.
The funding will be used to expand the product launch in the coming months. Additionally, Humanity Protocol is finalizing preparations for the launch of its own cryptocurrency token, which could further strengthen the platform’s ecosystem. The company’s founder Terence Kwok said that final adjustments are being made to ensure the launch goes smoothly. According to him, “The protocol allows people to prove they are human without revealing personal details. This helps address issues such as bots, fake accounts, and online fraud.”
Concerns about deepfakes and digital fraud have fueled the growth of blockchain-based solutions for identity verification. In recent years, several companies have developed alternatives to combat the proliferation of fake accounts and online scams. Humanity Protocol takes an innovative approach by using palm biometrics as an authentication method, offering a decentralized solution that does not require the disclosure of sensitive user information.
The increased use of artificial intelligence has also created additional challenges for digital security. With the ability to generate extremely realistic images and videos, AI technologies have made it harder to distinguish real interactions from sophisticated manipulations. In response, several companies have invested in solutions that ensure the verification of users’ identities without compromising their privacy. The World Network, co-founded by Sam Altman, CEO of OpenAI, is also following this path, using images of the face and eyes for authentication.
The timing of the funding also coincides with significant regulatory changes in the cryptocurrency sector. With Donald Trump’s return to the presidency of the United States, a more favorable environment for the blockchain industry is expected. The government has signaled support for technological innovation, with initiatives aimed at creating a clearer and less restrictive regulatory framework. Kwok highlighted that this scenario could be beneficial for startups like Humanity Protocol, commenting that “I am excited to see the new innovations that will be better supported under this administration. A pro-business environment can accelerate the development of blockchain-based solutions and attract investment.”
The decentralized digital identity sector continues to gain momentum, driven by technological advances and the growing need for online security. Humanity Protocol’s successful fundraising reflects investors’ confidence in the company’s potential and the impact its technology can have on the market. With an innovative biometric system and an ambitious roadmap, the company is positioning itself as a leading player in the blockchain-based digital authentication segment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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