TechFlow reports, on January 27, according to Reuters, biometric blockchain company Humanity Protocol announced a $20 million funding round co-led by Pantera Capital and Jump Crypto, achieving a fully diluted valuation of $1.1 billion. The company is developing a palm-vein scanning-based authentication system and plans to expand its product applications in the coming months.
Founder Terence Kwok said the protocol enables users to prove their humanity without revealing personal information, helping address issues such as bots, fake accounts, and online fraud. As concerns grow over AI-generated deepfakes, digital identity verification companies are expected to receive increased attention.
Kwok revealed that Humanity Protocol is preparing for the imminent launch of its cryptocurrency token, with final preparations underway. He also noted that the Trump administration's support for the crypto industry and its commitment to reducing burdensome regulations will foster a business-friendly environment, accelerating the development of blockchain solutions and attracting investment.
