Digital assets-focused funding corporations Pantera Capital and Leap Crypto reportedly helped a brand new palm-scanning blockchain mission attain a greater than $1 billion valuation.
In response to a brand new report by Reuters, the decentralized id mission Humanity Protocol has raised its totally diluted valuation to $1.1 billion after closing a $20 million funding spherical led by Pantera and Leap.
The mission aims to develop a community that makes use of palm scans to confirm that on-line accounts belong to actual individuals.
Says Terence Kwok, founding father of Humanity Protocol,
“The protocol permits individuals to show they’re human with out revealing private particulars. This helps remedy issues like bots, faux accounts and on-line fraud.”
Kwok additionally says he expects the mission to subject a token quickly with “remaining preparations underway to make sure a easy launch.”
The corporate says the funding will assist their mission scale up.
“The funding will speed up Humanity Protocol’s improvement of Proof of Humanity, Human ID, and seamless integrations with main Web3 platforms. With the help of Leap Crypto and Pantera Capital, Humanity Protocol is poised to scale its operations, increase its international attain and drive adoption throughout industries past Web3.”
Kwok provides that US President Donald Trump’s help of digital belongings will seemingly generate elevated funding for blockchain-related startups.
“I’m excited to see the brand new improvements that will likely be higher supported below this administration. A professional-business atmosphere may speed up the event of blockchain-based options and entice funding.”
The mission just isn’t the primary to try to make use of physique half scans and blockchain expertise.
In 2023, OpenAI founder Sam Altman launched Worldcoin (WLD), a cryptocurrency mission that makes use of eye-scanning expertise to create an id community.
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