Humanity Protocol is developing a secure, private Web3 identity system using zk-proofs and palm scans; and in a new interview, founder Terence Kwok explained the advantages of palm recognition over other biometric methods.
“Palm recognition technology offers a balanced combination of security, robustness, and better user experience compared to other forms of biometrics,” Kwok said in an interview with Crypto Briefing. “We’re already familiar with using fingerprints and facial recognition on our devices, but palm scans take it a step further with intricate vein patterns and other unique attributes that tend to stay the same over the course of an individual’s life.”
Kwok emphasized that palm recognition technology, combined with advanced algorithms, can handle variations due to age, injury, or dirt, ensuring accurate identification. The system uses decentralized storage and zero-knowledge proofs (zk-proofs) to maintain user privacy and control, with the biometric data distributed across multiple nodes that can be deleted by users at any time, preventing unauthorized access and data breaches.
The platform’s use of zk-proofs allows for identity verification without revealing personal data, with a cryptographic technique that offers high security by proving identity attributes without exposing them, enhancing both privacy and regulatory compliance.
“With decentralized storage and zero-knowledge proofs, users maintain control of their private data and can choose to selectively share them on a minimal, ‘need-to-know’ basis,” said Kwok.
The protocol is designed to comply with data privacy laws across various jurisdictions, with an eye to secure and lawful biometric data handling.
Kwok also discussed the potential applications of Humanity Protocol’s technology beyond Web3, commenting that “KYC will … be made smoother, as Proof of Humanity will allow financial institutions to verify that a customer is who they claim to be without having to store sensitive information themselves. “
Earlier this month, Humanity Protocol announced a $30 million seed round, spearheaded by Kingsway Capital, with significant investments from Animoca Brands, Blockchain.com, Hashed, Shima Capital, and other prominent investors.
Source: Crypto Briefing
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May 28, 2024 — by Tony Bitzionis
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