Humanity Protocol intends to launch its own cryptocurrency to help pay for verification fees.
The web3 digital identity firm Humanity Protocol raised $30 million in funding, bringing the startup to a $1 billion valuation.
Humanity Protocol aims to launch its own cryptocurrency. Both funding rounds occurred through simple agreements for future tokens , in which a developer promises digital assets at a future time in exchange for an upfront investment. The firm intends to use its financing to grow its team of 20 people and bolster partnerships.
The firm's founder Terence Kwok told Bloomberg it has a waitlist of around 500,000 and plans to launch its test network in the second quarter of 2024. The unique biometric information from someone's palms can be used to expedite know-your-customer protocols among other uses, Kwok added.Worldcoin, co-founded by OpenAI's Sam Altman, is also building infrastructure that aims to prove someone is a real human.
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