On January 3, BlockBeats invited Terence Kwok, founder of Humanity Protocol, to talk about the new opportunities for Humanity Protocol, the biggest competitor of WLD, with the theme of (Humanity Protocol is about to issue tokens, will identity authentication be a new narrative in the new year?)
BlockBeats: Please briefly introduce yourself and the Humanity Protocol project
Terence Kwok: Hello everyone, I am Terence, the founder and CEO of Humanity Protocol. I was born in the United States and grew up in Hong Kong. I previously founded an Internet company, which is also a unicorn in the Hong Kong market. A few years ago during the epidemic, I entered the cryptocurrency circle and began to study identity authentication. Humanity Protocol completed a $30 million financing in mid-2024 with a valuation of $1 billion. Our test network was launched about two months ago, and currently more than 2 million users have participated. We plan to launch the main network in the first quarter of 2025 and conduct a TGE.
In the past year, we have gained support from many investors, including Animoca, Shima Capital, Hashed, and Mechanism Capital, among others. We have also received support from several well-known angel investors.
Since the ICO era in 2017, people have mentioned that blockchain identity verification is a promising track, but no one has really brought this track to fruition until the emergence of Worldcoin. In fact, this will also be a very important field in the future. Many people compare us with Worldcoin, but in reality, there are significant differences between us, and our visions are not the same.
BlockBeats: Could you introduce the key mechanisms and core technologies of the Humanity Protocol, such as palm print scanning, which is quite different from Worldcoin's iris scanning? Also, what is Proof of Humanity (PoH)?
Terence Kwok: People often compare us with Worldcoin mainly because we use biometric technology for human identity verification. However, from a technical perspective, there are many ways to achieve biometric verification, commonly including facial recognition and fingerprint recognition. Worldcoin uses iris recognition while we use palm print and palm vein recognition.
In fact, these biometric technologies are quite mature; many people have researched this technology over the past decade or two, and many companies are working in this area. Only recently have iris recognition, palm print, and palm vein recognition been applied in the Web3 field for identity verification. Comparatively, if we look at these two technologies, they are roughly similar in terms of accuracy, but palm print and palm vein recognition have an advantage: they are not as intimidating as iris recognition and are less aggressive. Scanning the palm is a more comfortable method for most people.
In fact, Web2 companies are also using this technology. For example, Amazon and Tencent are also leveraging palm print and palm vein recognition to create some application scenarios. So this technology is quite mature. Besides the different biometric methods, our main difference from Worldcoin lies in our goals. Worldcoin aims to create a UBI (Universal Basic Income) product, believing that if AI replaces all human jobs, they need to give money unconditionally to unemployed individuals, which is the philosophy behind their product. Our philosophy is different; we believe that there are many application scenarios that can arise purely from identity verification, and UBI is just one of those scenarios.
Whether at the Web3 or Web2 level, there are many areas that require human identity verification. In the Web3 field, many people exploit airdrops or mining, and many studios can systematically exploit airdrops. This is not very friendly for project parties, as they hope to attract users who have a long-term interest in the project. Therefore, from an ideal perspective, human identity verification is very useful.
At the Web2 level, we are currently seeing that many websites, such as Facebook and X (Twitter), often require human verification, such as clicking on traffic lights or entering verification codes to prove oneself as human. This is because there are now a large number of bots generating content. Many people do not like to see content created by AI or robots. From a business model perspective, most Web2 companies' business models are related to advertising. If all content is fake, about 40%-50% of it is already fake, which is not attractive to advertisers.
From the perspective of proving humanity, I believe AI or robots are becoming increasingly important in the current environment. We have built a foundational certificate system; our chain is different from the World Chain. We not only provide identity verification but also introduce various identity verifiers. Identity verifiers may be different universities, companies, or even banks that verify relevant information. For example, if you graduated from Harvard University or Tsinghua University, these universities can publish your diploma or related information on our system to prove that you indeed graduated from Harvard. If you work at Animoca, then Animoca can issue a certificate on our platform to prove that you have indeed worked at this company. Banks or exchanges can also issue certificates in the system to prove that you have not been sanctioned. This way, other platforms or applications no longer need to conduct a complete KYC themselves.
BlockBeats: What achievements have been made since the launch of the Humanity Protocol testnet in early October?
Terence Kwok: Our testnet is still relatively simple. About two weeks ago, we shipped the first batch of hardware devices we produced, which consists of about 10 devices, and we expect to produce dozens more next week, with full production expected after the Spring Festival, anticipating over 2,000 devices to be put into use.
Our users are distributed across different regions, mainly in Europe. In two weeks, we will allow users to connect their social media accounts on the testnet to verify their identity information. A person has many attributes, with the first and most important attribute being to confirm whether you are human. Other attributes may include work location, nationality, or activity level online. We will gradually verify these different attributes. Our current testnet address is https://testnet.humanity.org/, and interested users can register to experience it.
After registration, you can recommend friends to join, and when your friends join, you will receive testnet reward tokens. After recommending others, you will receive additional rewards. We plan to airdrop tokens during the TGE, and the main condition for receiving airdrops is that you need to scan your palm print or palm vein or verify other attributes to confirm you are not a robot.
BlockBeats: Can palm prints or palm veins only be scanned offline?
Terence Kwok: Palm prints can be scanned on the app, while palm vein scanning requires specific hardware devices. We have already set up collection points in several cities in Europe to scan palm veins. We plan to launch the app in the first quarter of 2025, while palm veins need to be scanned offline. Our goal is to have about 2,000 to 2,500 devices distributed globally by the second quarter, and we currently have 2,500 devices in production. In comparison, Worldcoin currently operates about 1,000 Orb devices worldwide.
BlockBeats: Humanity Protocol is about to have its TGE. How will the RWT on the testnet convert to governance tokens? What are the application scenarios for the native token of Humanity Protocol in the ecosystem?
Terence Kwok: I can briefly explain the basic principle. The more people you recommend and the more active they are, the more rewards in RWT you will earn, and the more governance tokens you can exchange for. At the same time, we have mechanisms in place to prevent users from creating a large number of fake accounts. We do not want the system to be filled with bots or fake accounts. One of the application scenarios for the native token is to pay for gas. The native token will also be used as verification fees. For example, if you are a developer wanting to verify whether a certain address or account has passed human identity verification, you need to pay a fee, which can be paid with the native token. This fee will be distributed to different parties. First, the issuer of the certificate will receive a portion, the blockchain validators will receive a portion, and the nodes providing ZK proof will also receive a portion.
BlockBeats: How does Humanity Protocol circumvent regulations and store user information, given that its competitor Worldcoin often encounters restrictions imposed by sovereign nations for the protection of national identity information during the development of iris verification?
Terence Kwok: We never store the original images of users' palm prints or vein information. We encrypt these patterns and convert them into hash values. Then, we use ZK proof technology to compare these hash values, and we cannot obtain the user's original palm print data, and other certificates are similar. For example, if an institution issues a certificate proving your graduation time, major, and grades, if an application needs this information, it must first obtain the user's consent. The user can decide whether to provide this information, and all data is encrypted.
We store the encrypted hash values in a decentralized system because we always give users the right to delete their information. Even if the information is encrypted, if users do not want it stored anymore, they can delete it. Worldcoin's biggest mistake was not collecting user information but not giving users the right to delete their personal information. This is crucial according to European laws, which require that users have the right to delete their own information or data. We have a large legal team to ensure compliance in different countries and regions. Beyond compliance, we also need to ensure that we can securely protect users' information.
Our team has been researching palm print recognition technology for nearly 2 years, and we have conducted extensive research globally, acquiring several companies that have focused on biometric research for over the past decade. We have a solid foundation in building data models. Worldcoin developed this technology from scratch, and relatively few people have ventured into the field of iris recognition. So their biggest problem is that during operation, they not only scan the iris but also take a photo, keeping the original image. These original iris images are retained for machine learning training. However, they did not disclose this to the users, which is their biggest issue.
BlockBeats: Can you introduce the verification process of the Humanity Protocol?
Terence Kwok: We have a hardware device, and you can go to an offline operation point to scan your palm prints and palm veins. If you already have a Human ID, you can bind your palm print and palm vein with your Human ID. Interestingly, our data is not stored in the cloud but rather in the hardware device. The data is encrypted and converted into hash values before being uploaded to a decentralized storage system. If an application needs to verify whether a certain address has been verified, it needs to match a ZK Proofer. In the future, we will have many ZK Proof nodes to ensure the accuracy of the information. Throughout the process, all original data is confidential and will never be accessed.
In addition, data encryption and zero-knowledge proofs have already been applied to the testnet. Now, when you register and bind your email address on the testnet, we cannot see your email address. Many testnets or platforms directly store your email address and other information in their databases, but we do not store this information at all. We cannot obtain this information unless we have the user's permission.
BlockBeats: AI is undoubtedly the hottest track in 2025. As a unicorn in the privacy track, will Humanity Protocol have any involvement or layout in AI data?
Terence Kwok: We have actually made some progress in the AI field, but I would prefer not to disclose too many details at this time. One issue we are concerned about is how to prove who should be responsible for AI if it becomes increasingly powerful. We are also considering releasing a certificate later to prove that this AI is actually controlled by a certain entity. We are researching and developing these, but it is still in the early stages. Verification can be used not only for humans but also for AI technologies. Regarding the combination of data and AI that you mentioned, we have not considered it too deeply yet, as the project is still in its early stages. We need to focus on doing a good job with biometrics and identity verification first, and the next step is the certificate system, along with introducing a group of verifiers to issue certificates to people. I think it's best to take it step by step.
BlockBeats: After the rise of AI technology, digital identity will also emerge. How large will the market for human identity verification led by palm print verification be?
Terence Kwok: We are the first Web3 project to use palm prints and palm vein recognition for identity verification, but we do not rule out the possibility of adding new features. Before the TGE, we have established partnerships with several projects and may also use other methods for identity verification. What we care most about is the authenticity of data because it is very easy to falsify data now. For example, it is quite simple to find my photo or video online for facial recognition forgery. Voice can also be faked; if you recorded my voice, you could use voice-changing technology to make me say anything. Therefore, we believe that offline, hard-to-mimic verification methods are important.
Currently, there is a blue verification mark on Instagram or X (Twitter), but even robots can obtain the blue mark. We are also discussing cooperation with some large Web2 platforms. Humanity Protocol can at least prove that a certain account has undergone human identity verification, which is very important. Now, with the rapid development of AI, using AI agents to automatically send messages on Twitter has become very simple, making it difficult for ordinary people to distinguish whether the content is written by a machine or a human. From both content creation and consumption perspectives, discerning the authenticity of content is valuable. This does not mean that machine-generated content has no value; we believe it is important to have the ability to distinguish whether the content is created by humans or machines.
Advertising and other business models have been impacted by false content, so human identity verification is actually very important. We not only focus on human verification but also involve authentication in areas such as education, employment, and medical records, creating an immutable identity graph where the attributes must be real and cannot be arbitrarily changed.
BlockBeats: What is the current business model of Humanity Protocol?
Terence Kwok: Worldcoin's model is based on UBI, printing money and distributing it. We mainly want to establish a sustainable business model. We have already seen many verifiers coming in, and they will be announced before the TGE. These verifiers can be a university or a company. If they want to prove that a person is a journalist or an employee of a certain company, they can stake tokens to issue certificates. For example, if an institution wants to verify whether another person is indeed a journalist for BlockBeats, they need to pay a small fee in tokens, which will be distributed among the parties: BlockBeats will receive some money, the chain will receive some money, and the ZK Proof nodes will also receive some money. This model provides incentives for all participants and helps promote the development of the project.
We find that previous blockchain projects focused on identity verification have been overly idealistic, believing that all certificates should be public and free, which is actually unfeasible. We are discussing cooperation with some large financial institutions that can issue certificates to their tens of millions of users, proving that a person has passed the institution's KYC and has not been sanctioned. This means that if a DeFi platform wants to ensure compliance, it may set up a pool that only accepts users who have been certified by financial institutions for trading. This is a relatively important narrative in the long term. We are gradually discussing collaboration with different institutions and companies to complete this plan together, and we have also started developing and promoting SDKs and APIs for different developers to use.
Currently, the authenticity of certification information is becoming increasingly important. For example, if I create a personal profile stating where I'm from, where I studied, and where I have worked, others have no way to know the truth of this information. Similarly, if I send an email using an email address, the recipient finds it hard to confirm my identity. Especially since AI and LLMs (large language models) can easily imitate various scenarios, the authenticity of certification information is truly important.
BlockBeats: Could you share the upcoming roadmap or development plans for the Humanity Protocol?
Terence Kwok: Our foundation will be established soon, and after it is established, we are preparing for the TGE. Before the TGE, we will announce some cooperation news with Web3 and traditional financial institutions. We also recently completed a round of financing, and this news will be announced soon.
BlockBeats: At a time when AI technology is so hot, how do you think AI and Crypto will combine? What role will Humanity Protocol play?
Terence Kwok: This is purely my personal opinion. A few days ago, CoinDesk published an article mentioning that the threshold for releasing meme coins related to AI agents has become very low, and I personally have poor coding skills. The current situation is similar to when people first used ChatGPT; they thought AI agents were impressive, but in reality, creating a meme coin for an AI agent does not require much technical expertise. I believe that the sustainable development of AI will definitely rely on the progress of infrastructure. I have also bought some AI agent coins, but in the long run, it still depends on infrastructure development.
I would like to add that many people think Worldcoin's valuation is high, but I believe it is relatively low. For example, Ripple addresses liquidity issues, but identity verification addresses information liquidity issues. Especially in the AI era, many people have yet to recognize the importance of this issue.
Space link: https://twitter.com/i/spaces/1YqxovpXzLMJv
