A Worldcoin rival says it is making progress in establishing its own digital ID system.
In collaboration with BIO-key, Humanity International Investments says its Humanity Protocol initiative has successfully implemented palm scan authentication for individuals, primarily in Africa, to secure their digital identities via Non-Fungible Tokens (NFTs). With over 40,000 NFTs claimed and approximately 15,000 palm scans conducted, the project aims to empower individuals with a verified and immutable digital identity.
The Humanity Protocol first announced itself just a couple of weeks ago, positioning its use of palm-based biometrics as a form of identity verification that is “easily accessible through smartphones” – a jab at Worldcoin, which relies on specialized iris scanning devices to fully enroll users, and requires the scans to be done in person. And while its bank of 40,000 registered users pales in comparison to Worldcoin’s nearly 4 million, it nevertheless marks significant progress for the newcomer.
The Humanity Protocol says it has signed up users across 94 countries, and that it has a particularly strong footprint in Kenya, Nigeria, and Vietnam. “This innovative program is designed to provide financial benefits to participants, fostering a robust and financially inclusive community to those at the bottom of the pyramid across Africa and Asia,” said Aly Ramji, General Partner of Humanity International Investments.
The initiative has also introduced a Community Staking program to provide financial benefits and foster a financially inclusive community, particularly benefiting those at the bottom of the economic pyramid in Africa and Asia.
“Community Staking” refers to a novel ecosystem in which individuals participate by using Non-Fungible Tokens (NFTs) to represent their unique digital identities. This system allows community members to support one another not just financially but also as a form of endorsement of each other’s potential contributions to the digital economy.
Essentially, when a community member stakes on behalf of another, it acts as a vote of confidence in that individual’s capabilities and prospects within this new digital framework. This innovative approach aims to foster a financially inclusive community, particularly benefiting those at the economic bottom in regions like Africa and Asia, by enabling direct and transparent economic returns for participants.
–
March 13, 2024 – by the Mobile ID World Editorial Team
Follow Us