$5 Million Incentive Program Launched for Palm-Based Identity Verification

In collaboration with The Open Network (TON) Society, biometric developer HumanCode AI is launching a $5 million incentive program to encourage users to participate in their palm-scanning, proof-of-personhood program. The HumanCode project aims to provide reliable identity verification while preserving user privacy, utilizing blockchain technology to combat bots. Community members who complete the palm scan using their smartphone will be eligible for the incentive program.

Biometrics Developer HumanCode AI and The Open Network Society Launch $5 Million Incentive Program to Promote Palm-Based Identity Verification

Hong Kong, April 9, 2024 - In a bid to bolster user enrollment in its palm-scanning proof-of-personhood program, biometrics developer HumanCode AI and The Open Network (TON) Society have unveiled a one million Toncoin incentive program valued at approximately $5 million. The announcement was made during the Hong Kong Web3 Festival on Monday.

Palm Scans for Reliable Identity Verification and Privacy

Unlike WorldCoin's preferred method of eye scans, the HumanCode project employs hand scans to provide reliable identity verification while upholding user privacy. This blockchain-powered identification and authentication system effectively combats bots and enhances online security.

"With a quick scan of their palm, our technology can ascertain a user's humanity in mere seconds while preserving their physical anonymity," stated TON Society.

Seamless Integration and Accessibility

HumanCode's scanner is compatible with various browsers, cameras, and skin tones, ensuring widespread accessibility. TON Society members can connect their TON wallet and complete the palm scan using a smartphone to validate their personhood on the TON Society website. They can subsequently qualify for the incentive program.

Combating Bot Threats and Privacy Concerns

Co-founded by Dr. Dong Zhang in October 2022, Singapore-based HumanCode AI boasts over 900 million monthly active users. Zhang emphasizes the urgency of addressing the proliferation of bots and the need for robust proof-of-human solutions.

"My extensive experience in developing bots for major tech companies has highlighted the significant threat they pose to the web," Zhang said. "HumanCode's palm system provides greater user privacy protection and does not necessitate specialized hardware."

Industry Landscape and Biometric Identification

Identity verification has emerged as a growing industry, primarily driven by the rise of AI-generated deepfakes. However, while scams involving generative AI have gained prominence, bot and social engineering scams remain prevalent concerns for cybersecurity experts.

Other blockchain industry players engaged in biometric identification tool development include Sam Altman's Worldcoin and its contentious eye-scanning orbs. Worldcoin raised $115 million in Series C funding in May and has recently committed to open-sourcing key components of its Orb technology to enhance transparency.

Telegram's The Open Network and Toncoin

The Open Network project, originally conceived by the Telegram messaging app's team, was initially abandoned in 2020. However, a dedicated group of developers revived the project in May 2021, with the TON Foundation assuming management.

In March, the Telegram game Notcoin announced a $400,000 Toncoin giveaway ahead of its April 20th airdrop. Toncoin also experienced a two-year high in March amid speculation that Telegram might go public.

Currently, Toncoin, the native token of The Open Network, stands at $6.26 per coin, reflecting an over 18% weekly increase. This aligns with the broader crypto market rally in anticipation of the Bitcoin halving later this month.

"A scalable, private, and decentralized identity will be crucial in bringing the first billion users to the Web3 ecosystem on Telegram," said Ekin Tuna, Director of Growth for the TON Foundation. "We eagerly anticipate the exciting use cases this technology will unlock for our community and TON developers."

Additional Information

For further inquiries, please contact:

HumanCode AI
[email protected]

The Open Network Society
[email protected]

About HumanCode AI

HumanCode AI is a biometrics developer committed to providing reliable identity verification while safeguarding user privacy. The company's palm-scanning technology combats bots and promotes online security.

About The Open Network Society

The Open Network Society is a community of developers dedicated to building the TON ecosystem. The group focuses on promoting the adoption and development of The Open Network, a scalable and decentralized blockchain.