Digital assets-focused funding companies Pantera Capital and Bounce Crypto reportedly helped a brand new palm-scanning blockchain mission attain a greater than $1 billion valuation.
In keeping with 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 Bounce.
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, pretend 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 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 Bounce Crypto and Pantera Capital, Humanity Protocol is poised to scale its operations, broaden its world 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 will likely be higher supported underneath this administration. A professional-business atmosphere might speed up the event of blockchain-based options and appeal to funding.”
The mission shouldn’t be the primary to aim to make use of physique half scans and blockchain know-how.
In 2023, OpenAI founder Sam Altman launched Worldcoin (WLD), a cryptocurrency mission that makes use of eye-scanning know-how to create an id community.
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