Blockchain
Humanity Protocol Raises $30M at a $1 Billion Valuation to Build Zero-Knowledge Worldcoin Competitor
Humanity Protocol, the rapidly growing zero-knowledge (ZK) decentralized identity project, today announced a $30 million Seed Round led by Kingsway Capital with participation from Animoca Brands, Blockchain.com, Hashed, Shima Capital and 20 other industry-leading investors. The team at Humanity Protocol plans to use the funds to accelerate hiring and product development ahead of their public testnet launch in the second half of 2024. As the project closes its most recent funding round, its latest private valuation has hit $1 billion.
Sybil-resistant at both the network and application levels, Humanity Protocol’s Proof of Humanity (PoH) consensus mechanism ensures the uniqueness of users’ identities within a decentralized system. This maintains the integrity of both online and offline environments by mitigating the risk of identity fraud and sybil attacks. As a result, the protocol fosters trust and credibility within decentralized networks and in the real world.
With the ambition to become the world’s largest decentralized open identity graph, PoH allows users to perform various transactions, such as asserting their ownership of real-world assets, accessing restricted services, or proving their education and employment history, without having to disclose their personal information to third parties. Activities, such as the distribution of Universal Basic Income, can also become more equitable as these transactions are tied to real human beings, not bots or AI agents.
The project has garnered significant public support, with over half a million waitlist sign-ups within one month of emerging from stealth. The protocol maintains efficiency and interoperability as its user base grows over time through its zkEVM Layer 2 blockchain.
Terence Kwok, Founder of Humanity Protocol, said: “The world needs a truly self-sovereign identity framework that is built on first principles of inclusivity, privacy, and decentralization. Proof-of-Personhood is a powerful concept but the solutions that exist today haven’t seen adoption because onboarding is invasive and high friction.”
“Humanity Protocol fixes this. We’re creating a decentralized identity protocol that solves verifiable uniqueness and humanity in a way that protects user privacy and self-ownership of data.”
Manuel Stotz, Founder at Kingsway Capital, said: “Supporting innovative ventures that champion the human identity online isn’t merely an investment in technology, but a commitment to breaking down the barriers blocking financial and broader digital inclusion in particular for the world’s bottom billions.”
“In the world of AI, as Sybil attacks continue to plague our online experiences, we’re thrilled to support industry leaders, including Terence Kwok and Yat Siu, in building a solution that will uphold the integrity of our online interactions. With their expertise and our investment, we’re confident that this initiative will pave the way for a more secure and resilient technology world for all.”
Yat Siu, Co-founder and Chairman at Animoca Brands, said: “As an advocate for true digital property rights, I’m very passionate about ensuring that users’ digital identities remain secure and protected. Traditional Proof-of-Personhood methods often come with drawbacks, whether they’re too invasive, complicated, or cumbersome.”
“Humanity Protocol is revolutionizing the authentication process with its user-centric approach which ensures a seamless experience, allowing billions to access a decentralized digital identity solution. By upholding the principles of genuine digital ownership, we’re fostering equity and inclusion, empowering every participant in the journey towards a more inclusive digital future.”
The post Humanity Protocol Raises $30M at a $1 Billion Valuation to Build Zero-Knowledge Worldcoin Competitor appeared first on HIPTHER Alerts.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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