Humanity Protocol To Challenge Worldcoin with Funding Boost From Animoca, Polygon

Fresh off a significant funding round, Humanity Protocol has emerged as a potential game-changer in the Web3 identity space. This innovative project proposes a novel approach to establishing one’s digital presence, utilizing palm recognition technology as the foundation for its “proof of humanity” solution.

The project has attracted significant backing from industry heavyweights like Polygon’s co-founder Sandeep Nailwal and Animoca Brands’ chairman Yat Siu, alongside over 20 prominent venture capital firms. This support underscores the potential of Humanity Protocol’s approach, which aims to disrupt the way individuals establish their digital presence in the world of Web3.

It promises a user-friendly and privacy-centric alternative to existing verification methods, which can often be cumbersome and raise privacy concerns. Humanity Protocol advocates for palm recognition technology not only for its convenience but also because it prioritizes user privacy.

Humanity Protocol prioritizes user privacy by employing “zero-knowledge proofs” (zk-SNARKs). This sophisticated cryptographic technology allows users to prove they possess certain information (their identity) without actually revealing the underlying data itself. This ensures that users maintain complete control over their personal information, even during verification processes.

Terence Kwok, the founder of Humanity Protocol, celebrated and hailed the funding round as a “pivotal moment” in their journey, highlighting the project’s mission to empower individuals with complete ownership over their data and digital identity within the Web3 ecosystem. This vision aligns with the core principles of Web3, which aims to decentralize control and empower individuals over their online data and interactions.

World Coin vs Humanity Protocol?

It’s important to note that Humanity Protocol isn’t the sole player in the “proof of humanity” game. Worldcoin, with its iris-scanning Orb devices, has also garnered attention for its “Global ID” network ambitions. However, Worldcoin has faced criticism and regulatory scrutiny regarding data collection practices, leading to program suspensions in several countries.

Humanity Protocol aims to carve out a distinct space within the “proof of humanity” space by prioritizing user experience and data privacy over potentially intrusive alternatives. As Humanity Protocol progresses through its testnet launch and navigates the evolving Web3 landscape, several questions remain around its technical feasibility, adoption, and integration. It also would be interesting to see how it manages to handle the regulatory landscape across the globe which has been a challenge in this space.

Despite these challenges, Humanity Protocol’s palm-powered approach represents a unique and potentially viable solution for securing and establishing one’s digital identity within the Web3 environment. By prioritizing user control and privacy, Humanity Protocol presents an alternative path toward a more secure and empowering digital identity experience in the Web3 era.