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.
Based on a brand new report by Reuters, the decentralized identification 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 goals 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 difficulty a token quickly with “remaining preparations underway to make sure a clean launch.”
The corporate says the funding will assist their mission scale up.
“The funding will speed up Humanity Protocol’s growth 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, develop its international attain and drive adoption throughout industries past Web3.”
Kwok provides that US President Donald Trump’s help of digital property will possible generate elevated funding for blockchain-related startups.
“I’m excited to see the brand new improvements that can be higher supported beneath this administration. A professional-business surroundings may speed up the event of blockchain-based options and entice funding.”
The mission is just not the primary to aim 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 identification community.
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