Introduction
Humanity Protocol, a major competitor to the digital identity project World, has made significant strides in advancing its ecosystem with the launch of the Humanity Foundation. This article delves into the details of the organization’s recent developments, its technology stack, and its competition with World.
The Rise of the Humanity Foundation
Launched on January 14, the Humanity Foundation serves as a key driver for Humanity Protocol’s ecosystem. The foundation was spearheaded by Animoca Brands chairman Yat Siu, alongside other prominent figures such as Mario Nawfal and Yeewai Chong. According to an announcement shared with Cointelegraph, the establishment of the Humanity Foundation marks a pivotal moment in the protocol’s evolution.
Centralized vs. Decentralized Identity: A Key Differentiator
At its core, Humanity Protocol is focused on providing decentralized identity (DID) and zero-knowledge proofs (ZK-proofs). These technologies enable users to verify their unique identities without exposing personal data to any third party, including the protocol itself. This approach stands in stark contrast to centralized systems that rely on single points of control.
The protocol leverages biometric technology as a primary means of identity verification. By customizing verified identities with additional credentials such as education, employment history, and social reputation, users can create highly personalized digital identities. Importantly, biometric data is not stored on any centralized server but is instead encrypted and stored in distributed nodes or other secure storage solutions.
The Role of PoH (Proof-of-Humanity)
A standout feature of Humanity Protocol is its emphasis on proof-of-humanity (PoH). Chong, a founding member and interim CEO of the Humanity Foundation, emphasized that biometric verification provides an ideal starting point for building a secure, decentralized identity system. By anchoring PoH in biometric verification, the protocol aims to integrate diverse human attributes into a single, privacy-first identity framework.
Kwok, the founder of Humanity Protocol, stated that individuals retain full ownership and control over their information. "Humanity ensures that identity attestations, such as biometrics, aren’t stored on any centralized server," Kwok explained. Instead, biometric data is encrypted and distributed across a network to preserve privacy and security.
The Roadmap: TGE and Beyond
Launched in stealth mode earlier this year, Humanity Protocol has been steadily building towards its token generation event (TGE). According to Kwok, the protocol has yet to disclose the exact date of the TGE but has outlined the roadmap for its development. The event is expected to mark a significant milestone as Humanity Protocol continues to expand its ecosystem and user base.
A Closer Look at World: The Protocol’s Competitor
While Humanity Protocol is making strides in biometric identity verification, it faces stiff competition from World (formerly known as Worldcoin), a digital identity project launched by Tools for Humanity in July 2023. Sam Altman, the CEO of OpenAI, co-founded the company that brought about World. Unlike Humanity, which relies on palm recognition technology, World employs iris biometric technology.
According to Kwok, the primary difference between the two protocols lies in their choice of biometric technology: palm scans versus iris scans. "The main difference is that the latter uses palm scans instead of iris scans," Kwok explained. "Palm recognition tech offers robust privacy protections and is ‘less invasive while still ensuring security,’" he emphasized.
Kwok further elaborated on the advantages of palm scanning over iris technology: "Users are far more familiar with biometric authentication involving their palm than with the intricate details of iris recognition," he noted. This familiarity makes palm scanning a more intuitive and user-friendly option for verifying identities in a decentralized manner.
The Future of Decentralized Identity
As both Humanity Protocol and World continue to explore innovative approaches to identity verification, the race between these two protocols is heating up. With its emphasis on biometric technology and zero-knowledge proofs, Humanity Protocol is positioning itself as a leader in the growing market for decentralized identity solutions.
Conclusion
Humanity Protocol’s launch of the Humanity Foundation represents a significant milestone in its quest to revolutionize the digital identity space. With its focus on decentralization, privacy, and user-centric design, the protocol is well-positioned to capture a meaningful share of the market. As it prepares for its token generation event, Humanity Protocol will need to continue refining its technology stack and expanding its ecosystem to ensure long-term success.
In contrast, World’s reliance on iris biometric technology introduces an element of complexity that may deter some users. While this approach offers enhanced security, it also requires a greater learning curve in terms of user adoption. As both protocols continue to evolve, the battle for dominance in the decentralized identity space will undoubtedly intensify.