• Humanity Protocol has secured $30 million for its palm scan id verification undertaking.
• Palm scanning expertise gives safe, decentralized id verification and disrupts conventional strategies.
• Competitors within the digital id house is heating up as Worldcoin and Humanity Protocol go head-to-head.

Web3 digital id startup Humanity Protocol has secured $30 million in funding, pushing its valuation to $1 billion.

The digital id startup goals to revolutionize digital id administration by leveraging palm scanning for on-line id verification.

Palm scanning expertise for digital id verification

Humanity Protocol's distinctive method to digital id verification includes the usage of palm scanning.

Not like conventional strategies that depend on usernames and passwords, palm scanning makes use of an infrared digicam to seize the distinctive vein patterns in a person's palm.

This biometric knowledge is saved utilizing decentralized expertise and zero-knowledge proofs to make sure the safety and privateness of consumer data.

Terence Kwok, founding father of Humanity Protocol, emphasised the significance of this method, saying palm scans present a safer and extra dependable technique of verifying id.

Humanity Protocol plans to launch its personal cryptocurrency and goals to leverage palm scanning expertise to streamline know-your-customer (KYC) processes and different id verification procedures.

Humanity Protocol Challenges World Coin within the Digital Id House

Humanity Protocol’s funding success comes amid rising competitors within the digital id house.

Tasks like WorldCoin, co-founded by Sam Altman, are additionally utilizing revolutionary expertise to revolutionize id verification.

Nonetheless, WorldCoin has confronted criticism for its iris-scanning expertise and enterprise mannequin concentrating on customers within the World South.

In response to those issues, WorldCoin introduced that it had established new requirements for knowledge safety and deleted earlier iris scan knowledge.

Regardless of these challenges, the rising curiosity in digital id options highlights the significance of tasks like Humanity Protocol in assembly the evolving wants of the digital financial system.