Humanity Protocol, backed by Polygon, has received strategic investments from more than 20 prominent crypto venture capital firms for its Web3 identity solution
Notable investors include Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital, among others. While the total funding amount remains undisclosed, it is intended to bolster the development and deployment of Humanity Protocol’s technology, which seeks to establish “Proof of Humanity” within Web3 applications.
Humanity Protocol aims to leverage palm recognition technology and zero-knowledge proofs to offer a user-friendly and privacy-centric approach to digital identity verification. By prioritizing privacy and user control over digital identity, the platform aims to address growing concerns surrounding artificial intelligence and data security.
Founder Terence Kwok emphasized the company’s commitment to empowering individuals through technology, stating that the funding represents a critical step towards realizing their vision of a secure and inclusive digital future.
The secured funds will be utilized to accelerate the development and adoption of Humanity Protocol, with a focus on scalability, efficiency, and user accessibility, including the upcoming launch of their testnet. Notably, the fundraising round also saw participation from industry veterans Yat Siu and Sandeep Nailwal.