On May 15, 2024, media reported that Web3 digital identity startup Humanity Protocol raised $30 million in funding, reaching a $1 billion valuation. The project aims to build a decentralized identity system and is positioning itself as a competitor to Worldcoin, co-founded by Sam Altman.
Humanity Protocol is a startup focused on verifying online identities in an era of AI-driven deepfakes. In under a year, it has emerged as a unicorn by developing a blockchain-based identity solution that identifies individuals through palm scanning technology.
Humanity Protocol, a zero-knowledge decentralized identity project that uses palm scanning for identity verification, has raised $30 million in seed funding at a $1 billion valuation. The funding round was led by Kingsway Capital, with participation from prominent investors including Animoca Brands, Blockchain.com, Hashed, and CMCC Global, a Hong Kong-based crypto investment firm.
The newly secured capital will be used to expand the team, cover development costs, and support the launch of Humanity Protocol’s testnet in the second half of 2024. Prior to this round, the project raised $1.5 million in early March from angel investors and key opinion leaders. Humanity Protocol positions itself as a strong contender to Worldcoin, aiming to provide a privacy-preserving, decentralized identity solution built for the age of AI-driven deepfakes.
Humanity Protocol: A New Standard for Decentralized, Human-Centric Identity in Web3
While Worldcoin uses iris scans to verify identity, Humanity Protocol takes a different approach—using palm recognition. Co-founded by OpenAI’s Sam Altman, Worldcoin has faced criticism for targeting users in the Global South, leading to bans in countries like Portugal and Kenya.
In contrast, Humanity Protocol is building a zero-knowledge, decentralized identity (DID) network that aims to onboard the first 1 billion users to Web3. It offers developers a unique, Sybil-resistant human verification system, giving users full control over their data and digital identity. It serves as the “human layer” for the next generation of the internet.
“Proof of humanity is a powerful concept, but existing solutions struggle because onboarding is invasive and inconvenient,” said founder Terence Kwok. “We’re creating a decentralized identity protocol that protects privacy and data ownership while solving for uniqueness and humanness.”
How Humanity Protocol Combats Deepfakes and Sybil Attacks: A Two-Stage System
Stage 1: Palm Scanning and Proof of Humanity
The first step involves palm recognition to create a unique, secure identity using only a mobile phone. Users simply scan their palm to generate a high-resolution image. Unlike traditional biometrics that focus on 1:1 matches (you vs. your data), Humanity Protocol handles 1:N comparisons — ensuring your biometric signature is not similar to anyone else’s in the network.
This balances accuracy, reliability, and accessibility, laying the foundation for secure and scalable digital identity.
Stage 2: Community-Based Verification
In the second phase, Humanity Protocol introduces a decentralized consensus mechanism for validating identity claims, such as verifying your age or location. It uses a hybrid on-chain/off-chain system where verifiers check the data off-chain, then submit standardized proofs to the blockchain — without exposing sensitive personal information.
This approach enhances privacy and complies with global regulatory standards, while also preparing the system for large-scale adoption.
