Humanity Protocol completed a new round of financing of US$30 million at a valuation of US$1 billion, with participation from Animoca Brands and others

PANews reported on May 15 that according to Bloomberg, Humanity Protocol announced the completion of a new round of financing of US$30 million at a valuation of US$1 billion. Kingsway Capital led the investment, with participation from Animoca Brands, Blockchain.com and Shima Capital. Founder Terence Kwok said the company has also raised about $1.5 million from influential crypto figures among “KOLs.” Kwok said the startup plans to launch its test network in the second quarter, with a current waiting list of around 500,000 people. As it rolls out its technology, the plan is to first release an app that can use a phone's camera to scan people's palm prints to determine their identity.

It is reported that Humanity Protocol utilizes palmprint recognition technology and zero-knowledge proofs to ensure user privacy and security, aiming to provide an accessible and non-intrusive method for establishing human proofs in Web3 applications.