Decentralized identity blockchain solution, Humanity Protocol has successfully secured $20 Million in strategic funding. The firm confirmed the development in a blog post today, bringing the company’s fully diluted valuation to $1.1 billion. As revealed, venture capital firm, Pantera Capital and Jump crypto co-led the funding round.
It is worth noting that this investment reflects a strong commitment to the firm’s goals of redefining decentralized identity. This also symbolizes Humanity Protocol’s mission of opening up opportunities for secure, inclusive, and user-owned blockchain ecosystems.
In addition, the funds will also hasten the development of Humanity Protocol’s Proof of Humanity, Human ID, and seamless integration with leading Web3 platforms. Similarly, with support from Pantera Capital and Jump Crypto, Humanity Protocol plans to expand its global reach and drive adoption across industries beyond Web3.
In addition to this, Humanity Protocol also plans to use part of the fund to support upcoming initiatives, partnerships, developer grants, and community-building efforts. Also, funds will be allocated to support the upcoming launch of the protocol’s mainnet. However, it is worth noting that both Pantera Capital and Jump Crypto are renowned blockchain, Web3 infrastructure, and strategic scaling experts, making them an ideal partner for the firm.
The Founder of Humanity Protocol, Terence Kwok gave his insight on the partnership. The exec noted that the protocol would empower individuals with digital identities of their own. Also, Kwok added that the investment brings Humanity Protocol a step closer to achieving a future where trustless, decentralized identity solutions become the standard.
Humanity Protocol partners with LayerZero Labs to Bring PoH to Over 70 Chains
Meanwhile, in 2024, Humanity Protocol partnered with leading software development company LayerZero Labs, to bring Proof of Humanity (PoH) to Over 70 Chains. As revealed, LayerZero Labs deployed Humanity Protocol’s Proof of Humanity (PoH) system to enhance security and authenticity. Using the PoH, LayerZero Labs also upheld the integrity of decentralized governance and airdrops while reducing fraud across over 50 chains.
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