Humanity Protocol: Controversies and Doubts Behind an $1.1 Billion Valuation

Humanity Protocol, as a rising star project in the Web3 identity recognition field, focuses on palm print recognition technology and claims to solve the "Sybil attack" problem. However, as the project develops, the technological strength and operational methods behind it have gradually sparked controversy.

Capital Favor and Valuation Surge

Founded in 2023, the Humanity Protocol quickly attracted the attention of the capital market. In a short period, the project completed three rounds of financing, totaling over $50 million, with a valuation reaching $1.1 billion. Several well-known institutions participated in the investment, including Animoca Brands, Blockchain.com, and Polygon.

The project foundation lineup is equally luxurious, led by the chairman of Animoca Brands, with members including founders of international blockchain consulting firms and senior investment experts.

With the release of the Android version and the announcement of a certain trading platform going live, the development momentum of the Humanity Protocol seems strong. However, with the launch of the airdrop activity, a series of issues have begun to surface.

Technical Controversy

Some netizens have reported that the Humanity Protocol may be a "shell" project. An image from a certain access control manufacturer in Shenzhen was found in the APP code, raising questions about the technical origins of the project. Some analyses suggest that the project may be backed by a company in Shanghai that specializes in outsourcing identity verification systems.

In response, the founder stated that the relevant materials are "historical remnants" of early collaboration and emphasized that the partner has extensive experience in the field of biometrics. However, this explanation did not completely dispel the community's doubts.

In addition, serious security risks were pointed out in the early stages of the project, such as storing users' private keys in plain text in the browser.

Founder Background Raises Concerns

The founder of Humanity Protocol had a controversial entrepreneurial experience. The smartphone company he previously founded, despite receiving investments from several tech giants, ultimately went bankrupt due to poor management, burning over $170 million in investment funds.

This experience has raised concerns among some people about the future development of the Humanity Protocol.

Airdrop Controversy

The first airdrop event of the Humanity Protocol has sparked strong dissatisfaction within the community. Many long-term participants who have engaged in community activities and completed tasks found that the amount of airdrop they received was minimal, and some did not receive any airdrop at all. Meanwhile, some addresses with no apparent contribution records received a large amount of tokens.

This situation has raised questions about the fairness and transparency of the project. Although the founders have stated that they are addressing the relevant complaints, the community is still waiting for a more detailed and responsible explanation.

Conclusion

Although Humanity Protocol has garnered capital favor and high valuations, its technological strength, operational transparency, and fairness face severe challenges. Whether the project can fulfill its promises and address identity verification issues in the Web3 world remains to be seen.