Launched on February 20th, Humanity Protocol aims to be a less invasive option compared to other biometric methods like iris scans. Co-founder Balázs Némethi explains, “Unlike often invasive and burdensome proof-of-personhood solutions, Humanity Protocol promotes better equity and inclusion for users.”

Yat Siu, co-founder of Animoca Brands, highlights the user-centric approach: “This cutting-edge, non-invasive biometric technology underpins the proof-of-humanity consensus mechanism, building a decentralized ecosystem that respects true digital ownership and can onboard millions to a verifiable digital identity solution.”

Humanity Protocol hits a milestone with 40,000 claims registered globally!

From Nigeria to Viêt Nam, our community is making waves in over 94 countries.

Thanks to all who’ve joined us on this journey towards a more inclusive digital economy!#NFTAirdrop #CommunityStaking… pic.twitter.com/H6dMCU5yfs

— HumanityProtocol (@HmntyProtocol) February 13, 2024

The protocol boasts 40,000 registered members within just three months. Its security relies on zero-knowledge proofs (ZK-proofs) on the Polygon CDK layer 2 and leverages the proof-of-humanity (PoH) consensus mechanism for identity validation.

Nikita Uriupin, founder of Exverse, believes advancements like ZK-proofs in privacy-preserving tech are crucial for Web3 adoption: “Web3 solutions offer even more confidence for Web2 in the face of constant data breaches.”

Indeed, IT Governance reports 2,814 data breaches in 2023, exposing over 8.2 billion documents. Humanity Protocol empowers users with complete data ownership, unlike Web2 systems.

Sandeep Nailwal, co-founder of Polygon, sees vast potential: “Humanity Protocol lays the foundation for a wide range of applications by being the first blockchain ecosystem that’s both sybil-resistant and integrates verifiable credentials into a decentralized validator network.”

The post Animoca & Polygon Back Humanity Protocol for Secure Web3 Access with Palm Recognition appeared first on Coin Engineer.

Forget “monkey JPEGs” – NFTs are poised to disrupt industries and empower individuals, argues Yat Siu, founder of Web3 giant Animoca Brands. In a recent interview, Siu dives deep into the potential of non-fungible tokens (NFTs) and how they represent the foundation of a new, democratic digital capitalism.

While the NFT market has cooled from its 2021 frenzy, Siu sees this as a positive shake-out, weeding out speculators and leaving behind those who truly believe in the technology’s potential. He emphasizes the core value of NFTs: digital ownership. This opens doors to revolutionary changes in various sectors, from education to gaming.

Imagine: teachers selling their educational content directly through NFTs, bypassing traditional publishing houses and earning directly from their work. Siu’s company, TinyTap, exemplifies this with its platform empowering educators to monetize their content, especially in regions with limited opportunities.

But NFTs are more than just money-making tools. Siu views them as the building blocks of a more equitable and financially literate society. He sees a strong correlation between digital capitalism, as embodied by NFTs and blockchain, and a healthy democracy. He argues that property rights and a capitalist foundation are essential for democracy to flourish.

However, Siu acknowledges the negative perception of NFTs, particularly in the US. He blames this on a lack of understanding and emotional reactions to the financial aspects of NFTs. He stresses the need for education to bridge this gap and address these perceptions.

Interestingly, Siu sees the rise of inequality as a factor driving the popularity of NFTs and blockchain in Asia. He views these technologies as a way to empower individuals and bridge the wealth gap. However, he cautions against the dangers of extreme left-wing ideologies, which he sees as a threat to democracy.

The post Don’t Dismiss NFTs: They’re Pillars of Digital Capitalism, Says Animoca Founder appeared first on Coin Engineer.