Humanity Protocol, a cutting-edge blockchain firm focused on identity verification, has achieved a fully diluted valuation of $1.1 billion after successfully raising $20 million in a funding round co-led by Pantera Capital and Jump Crypto. The announcement, made on Monday, has sent ripples through the tech and blockchain communities as the company gears up to revolutionize online identity verification.
At the core of Humanity Protocol’s innovation is a system designed to verify online accounts using palm scans, ensuring users are real people without compromising their privacy. Founder Terence Kwok explained to Reuters, “The protocol allows people to prove they are human without revealing personal details. This helps solve problems like bots, fake accounts, and online fraud.”
The funds raised will accelerate the global rollout of Humanity Protocol’s product in the coming months, meeting a growing demand for robust digital identity solutions. The increasing prevalence of artificial intelligence, particularly with concerns over deepfakes and cyber fraud, has heightened interest in advanced identity verification tools, making this sector a magnet for investors.
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Blockchain startups are increasingly leveraging biometric technology to meet this demand. For example, World Network, co-founded by OpenAI CEO Sam Altman, offers a verified ID system based on facial and eye scans. Similarly, Humanity Protocol’s innovative approach positions it as a key player in this rapidly evolving market.
Adding to the excitement, Humanity Protocol is on the brink of launching its own cryptocurrency token. “The final preparations are underway to ensure a smooth launch,” Kwok confirmed, hinting at a major milestone for the company in the near future.
The broader blockchain and crypto sectors are also poised for a resurgence, bolstered by President Donald Trump’s return to the White House. Known for his pro-business stance, Trump has pledged to cut regulations that many in the industry consider burdensome.
“I’m excited to see the innovations that will be better supported under this administration. A pro-business environment could accelerate the development of blockchain-based solutions and attract investment,” Kwok remarked.
Humanity Protocol is well-positioned to redefine the future of online identity verification with its innovative technology, strategic funding, and alignment with a rapidly shifting tech landscape. As the company prepares to expand its reach and launch its token, all eyes are on its next steps, which promise to make waves across the blockchain and tech industries.
