Humanity Protocol raises funding from top cryptocurrency investors, including Hashed Foresight Ventures.

humanity protocol, a privacy-preserving biometric palm recognition technology for Web3 identity verification, has secured strategic investments from more than 20 prominent cryptocurrency-backed venture capital funds. According to a press release shared with AlexaBlockchain, notable backers include Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital.

In particular, the fundraising round further strengthened the momentum of the project with private investments from Founding Humans Yat Siu and Sandeep Nailwal.

Catch up quickly: This initiative, launched by the Human Institute, Humanity Protocol released Developed in collaboration with Animoca Brands and Polygon Labs on the Polygon Chain Development Kit (CDK) testnet on February 20, this groundbreaking technology represents a significant step forward in leveraging blockchain for secure digital identity verification and financial inclusion.

Details: At its core, Humanity Protocol leverages cutting-edge palm recognition technology combined with zero-knowledge proofs to ensure stringent user privacy and security standards. The protocol aims to provide a seamless and non-intrusive way to establish proof of personhood within Web3 applications and sets a new standard for digital identity verification.

• Positioned as the human layer of Web3, the Humanity Protocol aims to onboard the first billion individuals to a Sybil-proof blockchain network.
• Through the fusion of Sybil resistance and verifiable credentials within a network of decentralized validator nodes, Humanity Protocol aims to facilitate a wide range of applications, from decentralized social media to enterprise-level DeFi solutions.

Raise funding from top cryptocurrency VCs It serves as a solid vote of confidence in Human Protocol’s innovative approach and confirms its potential to reshape the way individuals engage with digital services in an era dominated by artificial intelligence. With an emphasis on user privacy and data security, the project highlights our commitment to empowering individuals within the digital environment.

• Terence Kwok, founder of Humanity Protocol, expressed the spirit behind the project when he said, “At the core of Humanity Protocol is the deep belief that technology should amplify human potential, not compromise it.”
• Kwok emphasized the project’s mission to foster a safe and inclusive digital future, fueled by the global movement toward user-controlled digital identities.

Future Plans: Humanity Protocol said the funds raised will play a key role in accelerating development and deployment, with a focus on improving scalability, efficiency, and user accessibility.

As the protocol prepares for its imminent testnet launch, users around the world will have the opportunity to experience the protocol’s unique features first-hand.

Participating venture capital firms that deeply identify with Humanity Protocol’s mission bring a wealth of experience and a globally diverse network. Their strategic investment highlights our shared commitment to fostering a more inclusive and equitable digital economy.

As Humanity Protocol continues to advance its vision of a privacy-centric digital ecosystem, this strategic investment marks a pivotal moment in its journey, paving the way for a future where individuals have greater control over their digital identities and online interactions. means.

Read: Blockchain and Identity Verification: A New Era of Security and Transparency