{"id":35635,"date":"2025-01-28T15:30:56","date_gmt":"2025-01-28T12:30:56","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=35635"},"modified":"2025-01-28T14:48:02","modified_gmt":"2025-01-28T11:48:02","slug":"humanity-protocol-reaches-1-1-billion-valuation-after-fundraising","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/humanity-protocol-reaches-1-1-billion-valuation-after-fundraising\/","title":{"rendered":"Humanity Protocol Reaches $1.1 Billion Valuation After Fundraising"},"content":{"rendered":"<p>Blockchain identity platform <a href=\"https:\/\/coinengineer.net\/blog\/humanity-protocol-introduces-humanity-foundation\/\"><strong>Humanity Protocol<\/strong><\/a> reaches $1.1 billion valuation after fundraising. With the advent of Web3, <strong>decentralized identity solutions (DIDs)<\/strong> are considered essential for securing users&#8217; digital footprints.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/humanity-protocol-reaches-1-1-billion-valuation-after-fundraising\/#Humanity_Protocol_Secures_20_Million_for_Web3_Identity_Solutions\" title=\"Humanity Protocol Secures $20 Million for Web3 Identity Solutions\">Humanity Protocol Secures $20 Million for Web3 Identity Solutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/humanity-protocol-reaches-1-1-billion-valuation-after-fundraising\/#Humanity_Protocol_Offers_Less_Invasive_Method_Than_Iris_Scans\" title=\"Humanity Protocol Offers Less Invasive Method Than Iris Scans\">Humanity Protocol Offers Less Invasive Method Than Iris Scans<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Humanity_Protocol_Secures_20_Million_for_Web3_Identity_Solutions\"><\/span>Humanity Protocol Secures $20 Million for Web3 Identity Solutions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Decentralized identity platform Humanity Protocol<\/strong> has secured $20 million in venture funding to compete with rivals like World Network in the push for on-chain identity solutions.<\/p>\n<p>This funding round was backed by major venture capital firms such as Pantera Capital and Jump Crypto, reaching a valuation of $1.1 billion. The funds will be used to further develop the Proof of Humanity protocol, which links users&#8217; digital identities to their palm prints across Web3 platforms.<\/p>\n<p>The funds will also support the preparation for the protocol\u2019s yet-to-be-announced mainnet launch.<\/p>\n<p>According to Humanity Protocol\u2019s official website, the platform plans to conduct a token airdrop in collaboration with OKX Wallet.<\/p>\n<p><strong>Humanity Protocol<\/strong> is not the first blockchain project attempting to integrate biometric authentication with Web3 financial services. In 2023, OpenAI\u2019s Sam Altman co-launched Worldcoin (now rebranded as World Network), which uses Orb technology to scan users&#8217; irises and create a unique digital identity.<\/p>\n<p>World Network has faced criticism recently, with Brazil&#8217;s data protection regulator barring the company from serving locals. Additionally, in December, Germany&#8217;s data protection authority issued a warning to World Network for allegedly mishandling biometric data.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Humanity_Protocol_Offers_Less_Invasive_Method_Than_Iris_Scans\"><\/span>Humanity Protocol Offers Less Invasive Method Than Iris Scans<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Humanity Protocol founder Terence Kwok stated that the platform\u2019s palm scans are &#8220;less invasive&#8221; compared to Worldcoin\u2019s iris scans, without compromising security.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-35636 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/palm.jpg\" alt=\"palm\" width=\"2048\" height=\"1639\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/palm.jpg 2048w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/palm-300x240.jpg 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/palm-1024x820.jpg 1024w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/palm-768x615.jpg 768w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2025\/01\/palm-1536x1229.jpg 1536w\" sizes=\"auto, (max-width: 2048px) 100vw, 2048px\" \/><\/p>\n<p>\u201cPalm and fingerprint biometric verification is a method users are far more familiar with than their iris code,\u201d Kwok said, emphasizing the importance of user experience.<\/p>\n<p>Despite the controversy, biometric verification is considered a critical component in the adoption of Web3 and its integration with financial services and healthcare sectors.<\/p>\n<p><strong>Sebastian Rodriguez, Chief Product Officer at Privado ID<\/strong>, stated that biometric verification doesn\u2019t have to pose a privacy threat. He also pointed out that privacy and anonymity should not be confused, as they are different concepts.<\/p>\n<blockquote><p><strong>Rodriguez:<\/strong> \u201cWe shouldn\u2019t confuse privacy with anonymity. Instead of aiming for anonymity, we should fight for consent. Privacy is not about anonymity, it\u2019s about the right to consent.\u201d<\/p><\/blockquote>\n<p>While Rodriguez praised Worldcoin\u2019s technology, he criticized its business model.<\/p>\n<p>\u201cWorldcoin\u2019s business model aims for monopolization,\u201d he said, adding:<\/p>\n<blockquote><p>\u201cThe danger lies in the business model. There\u2019s no issue with the technology. If they succeed and become the only way to prove your uniqueness online, then no other source of uniqueness will matter. And once you&#8217;re banned, that ban will be permanent.\u201d<\/p><\/blockquote>\n<hr \/>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<span style=\"color: #ffcc00;\"><a style=\"color: #ffcc00;\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a style=\"color: #ffcc00;\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,<\/span>\u00a0and\u00a0<span style=\"color: #ffcc00;\"><a style=\"color: #ffcc00;\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0<\/span>channels for the latest\u00a0<strong><a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\"><span style=\"color: #ffcc00;\">news<\/span><\/a><span style=\"color: #ffcc00;\">\u00a0<\/span><\/strong>and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Blockchain identity platform Humanity Protocol reaches $1.1 billion valuation after fundraising. With the advent of Web3, decentralized identity solutions (DIDs) are considered essential for securing users&#8217; digital footprints. Humanity Protocol Secures $20 Million for Web3 Identity Solutions Decentralized identity platform Humanity Protocol has secured $20 million in venture funding to compete with rivals like World<\/p>\n","protected":false},"author":29,"featured_media":35640,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,2],"tags":[11299,4508,11300,620],"class_list":["post-35635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-news","tag-decentralized-identity-solutions-dids","tag-humanity-protocol","tag-privado-id","tag-worldcoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Humanity Protocol Reaches $1.1 Billion Valuation After Fundraising - Coin Engineer<\/title>\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-1-1-billion-valuation-after-fundraising\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Humanity Protocol Reaches $1.1 Billion Valuation After Fundraising - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Blockchain identity platform Humanity Protocol reaches $1.1 billion valuation after fundraising. With the advent of Web3, decentralized identity solutions (DIDs) are considered essential for securing users&#8217; digital footprints. 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