Humanity Protocol Announces Strategic Funding to Build the Human Layer for Web3

Humanity Protocol secures strategic investment from over 20 venture capital funds to revolutionise digital identity and financial inclusion with its Sybil-resistant layer 2 blockchain.

Feb 28, 2024


Hong Kong / Dubai, 28th February 2024 — Following its emergence from stealth last week, Humanity Protocol announces a successful fundraise, securing strategic investment from over 20 prominent crypto native venture capital funds including Hashed, CMCC, Cypher Capital, Foresight Ventures, and Mechanism Capital. This marks a significant vote of confidence in Humanity Protocol’s innovative approach to leveraging blockchain technology for privacy-preserving digital identity verification and financial inclusion.

Humanity Protocol, which uses cutting-edge palm recognition technology alongside zero-knowledge proofs to ensure user privacy and security, aims to provide an accessible and non-invasive method for establishing Proof of Humanity within Web3 applications. The recent funding underscores the project’s potential to significantly impact how individuals interact with digital services in the age of artificial intelligence, prioritizing user privacy and data security.

Terence Kwok, Founder of Humanity Protocol, commented:

“In the heart of Humanity Protocol lies a profound belief that technology should amplify human potential, not compromise it. With the support of our visionary partners, we are not just developing an ecosystem; we are nurturing a global movement towards an inclusive, secure digital future. This funding marks a significant milestone in our journey, enabling us to bring our human-centric blockchain to the world, ensuring privacy and empowering individuals across the globe with a digital identity that they control.”

Accelerating Development and Adoption

The funds will be utilized to accelerate the development and deployment of the Humanity Protocol, enhancing its scalability, efficiency, and user accessibility. This will include preparing for the imminent launch of its testnet, inviting users worldwide to experience its unique features firsthand.

A Collaborative Effort Towards an Inclusive Digital Economy

The venture capital firms participating in this funding round are well-aligned with Humanity Protocol’s mission to foster a more inclusive and equitable digital economy. Each investor brings a wealth of experience and a globally diversified network that will be instrumental in scaling the protocol. Additionally, this strategic fundraise also saw Founding Humans Yat Siu and Sandeep Nailwal personally investing.