Humanity Protocol Secures Funding from 20+ Crypto VCs

Funding Round Success

Humanity Protocol, a project focusing on digital identity for Web3, has successfully completed an investment round, securing funding from over 20 venture capital funds within the crypto space. Notable investors include Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital. The exact amount raised was not disclosed, but the project emphasized significant support from major crypto-focused venture capital funds.

Less Invasive Identity Verification

Developed in collaboration with Animoca Brands and Polygon Labs, Humanity Protocol aims to offer a less invasive alternative to traditional identity verification methods. It incorporates palm-recognition technology with Polygon’s zero-knowledge proofs (ZK-proofs), distinguishing itself from projects like Worldcoin that use iris scans.

Founders' Commitment to Human-Centric Blockchain

Terence Kwok, the founder of Humanity Protocol, stated that the company believes technology should amplify human potential, not compromise it. With support from industry leaders like Animoca Brands’ Yat Siu and Polygon co-founder Sandeep Nailwal, the project is committed to bringing a human-centric blockchain solution to the market.

Scrutiny on Worldcoin

In contrast, Worldcoin, a project operating on a similar premise, has faced scrutiny from global authorities. Concerns have been raised about Worldcoin's data collection methods by authorities such as the French CNIL, Germany’s privacy watchdog, the Kenyan government, and most recently, Hong Kong’s Office of the Privacy Commissioner for Personal Data (PCPD).