Blockchain ID project Humanity Protocol hits unicorn status with $30M raise
. Humanity Protocol scans users' palms and claims to secure their digital identities on a blockchain using zero-knowledge technology and "proof-of-humanity" - a consensus mechanism used to confirm the user is human and not an AI bot
Decentralized identity solution Humanity Protocol has become a unicorn after raising $30 million, lifting its valuation to $1 billion. The $30 million Seed Round was led by Kingsway Capital, with participation from Animoca Brands, Blockchain.com, Hashed, Shima Capital and 20 other investors, according to a May 15 Medium post by Humanity Protocol. The funds will be used to expand the product development unit as the firm prepares for its public testnet launch in the second half of 2024. Humanity Protocol scans users' palms and claims to secure their digital identities on a blockchain using zero-knowledge technology and "proof-of-humanity" - a consensus mechanism used to confirm the user is human and not an AI bot. Despite its controversial approach, which has seen Worldcoin banned in multiple countries over privacy concerns, it has already amassed 10 million users. Humanity Protocol's waitlist has seen over half a million people sign up since it emerged from stealth one month ago.
