{"id":20605,"date":"2024-05-16T07:19:23","date_gmt":"2024-05-16T07:19:23","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20605"},"modified":"2024-05-16T07:19:23","modified_gmt":"2024-05-16T07:19:23","slug":"humanity-protocol-reaches-unicorn-status-with-30m","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/humanity-protocol-reaches-unicorn-status-with-30m\/","title":{"rendered":"Humanity Protocol Reaches Unicorn Status with $30M"},"content":{"rendered":"

Dispersed identity management with their latest $30 million financing, Humanity Protocol<\/strong> is now formally a unicorn, valued at $1 billion.<\/p>\n

As Humanity Protocol<\/strong> stated in a May 15 Medium post, Kingsway Capital led the $30 million Seed Round<\/a>, which also included Animoca Brands<\/a>, Blockchain.com, Hashed, Shima Capital, and 20 other investors.<\/p>\n

The money will be used by Humanity Protocol<\/strong> to grow its product development division in order to get ready for the second half of the 2024 public testnet launch.<\/p>\n

By combining zero-knowledge technology with “proof-of-humanity,”<\/em> a consensus technique to verify the user is human and not an AI bot, the project scans user hands and promises to safeguard their digital identities on a blockchain.<\/p>\n

Humanity Protocol<\/strong> expects OpenAI CEO Sam Altman to see its palm scanning as a less intrusive substitute for its iris scanning competitor, Worldcoin.<\/p>\n

Related: OpenAI Unveils ChatGPT\u2019s Human-like Upgrade: GPT-4o Model<\/a><\/em><\/span><\/p>\n

Ten million people have already joined Worldcoin despite its contentious strategy, which has resulted in its suspension in several nations due to privacy concerns.<\/p>\n

Meanwhile, since the Humanity Protocol<\/strong> first surfaced in covert mode a month ago, almost half a million people have signed up.<\/p>\n

February 2023 saw the Humanity Protocol<\/strong> introduced by Terence Kwok via the Human Institute.<\/p>\n

Co-founders of Animoca Brands Yat Siu and Polygon Labs, which assisted Humanity Protocol<\/strong> in constructing a testnet in February of this year, are helping Kwok.<\/p>\n

Even though decentralized ID solutions can be quite effective, Siu emphasizes that they must not be \u201ctoo invasive, complicated, or cumbersome,\u201d<\/em> especially when users register during the onboarding process.<\/p>\n

In a world driven more and more by artificial intelligence, competition in the blockchain-based identity industry is only growing.<\/p>\n

Data from IT Governance indicates that out of 2,814 events recorded in 2023, 8.2 billion documents were compromised.<\/p>\n

According to Kwok’s company, user data will be held “decentralized” and will belong to the individual alone.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dispersed identity management with their latest $30 million financing, Humanity Protocol is now formally a unicorn, valued at $1 billion. As Humanity Protocol stated in a May 15 Medium post, Kingsway Capital led the $30 million Seed Round, which also included Animoca Brands, Blockchain.com, Hashed, Shima Capital, and 20 other investors. The money will be<\/p>\n","protected":false},"author":6,"featured_media":20606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[4508],"class_list":["post-20605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-humanity-protocol"],"yoast_head":"\nHumanity Protocol Reaches Unicorn Status with $30M - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Harnessing zero-knowledge technology, Humanity Protocol secures $30 million in funding, aiming to revolutionize digital identity management.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/humanity-protocol-reaches-unicorn-status-with-30m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Humanity Protocol Reaches Unicorn Status with $30M - 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