Web3 digital identity startup Humanity Protocol has raised $30 million in funding, achieving a $1 billion valuation. The funding round was led by Kingsway Capital, with additional support from Animoca Brands, Blockchain.com, and Shima Capital. Humanity Protocol, which aims to launch its own cryptocurrency, conducted the funding through Simple Agreements for Future Tokens (SAFT). The startup plans to use the funds to expand its team and strengthen partnerships. It uses an innovative approach to digital identity verification by scanning an individual's palm to note the unique composition of the person's veins, storing this information using decentralized technology and zero-knowledge proofs. Founder Terence Kwok revealed the company has a waitlist of around 500,000 and plans to launch its test network in Q2 2024. The article also mentions Worldcoin, co-founded by OpenAI's Sam Altman, which aims to verify human identity through iris scanning but has faced criticism and regulatory challenges.