The decentralized identification platform Humanity Protocol raised $20 million in funding led by Pantera Capital and Soar Crypto.
The contemporary financing brings Humanity Protocol’s totally diluted valuation to $1.1 billion, based on an organization launch.
Humanity Protocol builds infrastructures for people to confirm their digital presence to scale back the variety of bots, deepfakes and different frauds in on-line areas. Individuals can use the platform to scan their palms and authenticate their blockchain-based digital identification whereas sustaining management over their private knowledge.
The agency plans to make use of the funds to scale its operations, combine with different web3 platforms and construct out its Proof of Humanity and Human ID infrastructure.
“At Humanity Protocol, we’re dedicated to empowering people with digital identities which can be really their very own,” mentioned Humanity Protocol founder Terence Kwok in a Jan. 27 launch. “This funding from Soar Crypto and Pantera Capital brings us one step nearer to realizing a future the place trustless, decentralized identification options are the norm.”
In Could 2024, Humanity Protocol raised $30 million in funding led by Kingsway Capital to carry the agency’s complete valuation to $1 billion, The Block beforehand reported.
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MK Manoylov has been a reporter for The Block since 2020 — becoming a member of simply earlier than bitcoin surpassed $20,000 for the primary time. Since then, MK has written almost 1,000 articles for the publication, protecting any and all crypto information however with a penchant towards NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem tales. MK holds a graduate diploma from New York College’s Science, Well being and Environmental Reporting Program (SHERP) and has additionally coated well being subjects for WebMD and Insider. You’ll be able to observe MK on X @MManoylov and on LinkedIn.
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