Polygon-backed Humanity Protocol has secured strategic investments from over 20 crypto enterprise capital corporations for its privacy-centric Web3 id resolution. Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital are among the many few crypto VCs that invested in Humanity Protocol, as per a press launch shared with CryptoNews.
The funding is meant to help the event and deployment of Humanity Protocol’s expertise, which goals to determine “Proof of Humanity” inside Web3 functions.
The agency didn’t disclose the entire quantity raised in strategic funding from these crypto VCs.
Humanity Protocol to Scale ZKP-Powered Palm Recognition Tech
Humanity Protocol is constructing on using palm recognition expertise alongside zero-knowledge proofs, aiming to supply a user-friendly and privacy-preserving strategy to digital id verification.
Humanity Protocol believes its privacy-centric digital ID options could have a big influence on how people work together with digital providers, significantly within the context of rising issues round synthetic intelligence and knowledge safety.
Terence Kwok, Founding father of Humanity Protocol, said:
“Our core perception is that expertise ought to empower people, not limit them. With the help of those main buyers, we aren’t simply constructing an ecosystem; we’re fostering a motion in direction of a safe and inclusive digital future for everybody. This funding marks a vital step in our journey to deliver our human-centric blockchain to the world, providing people management over their digital id and prioritizing privateness.”
The secured funds might be used to speed up the event and adoption of Humanity Protocol, specializing in scalability, effectivity, and person accessibility. This consists of making ready for the launch of their testnet, permitting customers worldwide to expertise the expertise firsthand.
Notably, the fundraise additionally noticed participation from crypto veterans, together with Yat Siu and Sandeep Nailwal.
