- Humanity Protocol has secured $30M for its palm scan identification verification challenge.
- Palm scan tech supplies stable, decentralized identification verification, disrupting outdated-celebrated systems.
- Opponents intensifies in the digital identification trouble as Worldcoin and Humanity Protocol scramble head-to-head.
Humanity Protocol, a web3 digital identification startup, has secured $30 million in funding, catapulting its valuation to $1 billion.
Utilizing palm scans for online identification verification, digital identification startup aims to revolutionize digital identification administration.
Palm scan technology in digital identification verification
Humanity Protocol’s uncommon potential to digital identification verification involves the usage of palm scans.
Unlike outdated-celebrated systems that rely on usernames and passwords, palm scans fabricate the most of infrared cameras to take hang of the uncommon vein patterns in an person’s palm.
This biometric files is then saved utilizing decentralized technology and zero-files proofs, ensuring the safety and privacy of users’ files.
Humanity Protocol’s founder, Terence Kwok, emphasised the importance of this potential, stating that palm scans offer a extra stable and dependable technique of identification verification.
With plans to launch its contain cryptocurrency, Humanity Protocol aims to leverage its palm scan technology to streamline know-your-buyer (KYC) processes and other identification verification procedures.
Humanity Protocol no longer easy Worldcoin in digital identification trouble
Humanity Protocol’s funding success comes amidst increasing competition in the digital identification trouble.
Initiatives luxuriate in Worldcoin, co-founded by Sam Altman, contain additionally sought to revolutionize identification verification utilizing progressive applied sciences.
On the opposite hand, Worldcoin has faced criticism for its iris-scanning technology and industry mannequin focusing on users in the Global South.
Per these concerns, Worldcoin announced that it has established original standards for files security and has deleted earlier iris-scanning files.
No topic these challenges, the rising interest in digital identification solutions underscores the importance of projects luxuriate in Humanity Protocol in addressing the evolving desires of the digital economic system.
