The Holonym Foundation, with its significant funding round of $5.5 million, aims to revolutionize the concept of digital personas backed by human verification.
On August 16th, 2024, in Delaware, USA, Chainwire reported this update.
This funding round was spearheaded by Finality Capital and Paper Ventures, with esteemed contributions from Draper Dragon, Arrington Capital, Lightshift, and others.
Holonym Foundation, Holonym Foundation, dedicated to crafting advanced digital identity protection for the decentralized web, has successfully wrapped up a $5.5 million seed funding initiative. Finality Capital and Paper Ventures led this round, with significant backing from Draper Dragon, Arrington Capital, Lightshift, Zero Knowledge Ventures, and several other leading investment firms.
According to Shady El Damaty, one of Holonym's co-founders, they are embedding essential principles into their technology that prioritize users. Their aim is to create a universally accessible open-source framework to empower individuals with the fundamental rights to a digital identity, utilizing cryptographic methods to substantiate their identity.
"Without self-sovereign identities, we can't exercise independent control over our financial resources. The Holonym Foundation is developing vital middleware and applications that will elevate Web3 users above Web2, granting them the authority to own, manage, and selectively share their personal data, fortified with strong privacy and security assurances. Holonym proposes to be part of the solution to transition the next trillion dollars worth of assets onto blockchain,\" stated Kamal Mokeddem, General Partner at Finality Capital.
Private keys are crucial for securing our digital interactions online, but what if they could be created in a more innovative manner? The concept of Human Keys transforms the traditional understanding of private keys. Instead of relying on arbitrary phrases, Human Keys redefine the relationship between individuals and their digital assets, linking ownership to the person who can convincingly verify their identity through biometrics. This pioneering approach renders the internet's ownership dynamics more user-friendly, decentralized, and secure.
Human Keys are powered by three key protocols developed by the Holonym Foundation, each emphasizing security and robust data privacy as their foundational principles:
- Mishti Network, A revolutionary threshold entropy network that calculates an Oblivious Pseudorandom Function (OPRF) using biometric data.
- This technology enables individuals to generate highly secure random keys that are nearly impossible to steal, while simultaneously facilitating private homomorphic computations on encrypted data. This means untrustworthy third parties can verify users without ever accessing their private information.
- This is called an Actively Validated Service (AVS) on Eigenlayer, reinforced by the economic safeguards of the Ethereum network.
- Zeronym, A zero-knowledge identity protocol utilizes Human Keys, allowing people globally to confidentially validate aspects of their identities.
- So far, over 125,000 users around the globe have embraced pseudonymous Zeronym services, establishing their unique identities, residency, and other personal attributes to cultivate a distinctive digital reputation solely in their control.
- Silk, A seamless and user-friendly wallet interface is available for interacting with cryptocurrency protocols.
- Human Keys become accessible to everyday internet users through Silk.
- Silk equips users with advanced security measures to safeguard them from hackers, scams, and malware on the decentralized web.
Nanak Nihal Singh Khalsa, another co-founder of Holonym, remarked: \"Human identity goes beyond mere biometrics like a facial recognition. It includes what you possess, your knowledge, and your essence: your belongings, your memories, and your physical being. On the centralized web today, we tend to surrender the ownership of our data for free. Web3 must be the realm where we ensure robust control over data ownership and secure sharing of our identities, ensuring that no one else holds dominion over our personal information.\"
By providing every individual on the planet with a secure key that only they can possess and command, the Holonym Foundation is paving the way toward global digital inclusion, especially crucial at a time when innovations in artificial intelligence threaten to leave many behind.
Shady El Damaty, a co-founder at Holonym, emphasized that this is merely the beginning for the foundation. \"Human Keys will transform how individuals engage with the internet by curtailing excessive power and strengthening personal rights through resilient decentralized protocols built upon the Zeronym and Mishti Network platforms.\"
The Holonym Foundation is dedicated to pioneering advancements in applied cryptography that tackle pressing real-world issues.
About Holonym Foundation
The primary goal of the Holonym Foundation is to disseminate Human Keys, making security and privacy manageable in environments devoid of trust. They have constructed the necessary infrastructure enabling anyone, anywhere, to generate Human Keys using the Mishti Network, effortlessly utilizing them via Silk, and privately validating identity details using Zeronym.
Holonym Foundation Products
Mishti Network. This is a threshold network aimed at generating Human Keys in a zero-trust setting. It allows for the creation of high-entropy Human Keys derived from private biometrics, passwords, security questions, or other memorably human-centric data. Mishti also powers Zeronym's programmable privacy features for on-chain private banking, payments, and compliance with real-world regulatory frameworks.
Silk. This is the user-friendly wallet designed for quick onboarding. It allows users to employ Human Keys alongside zero-trust protocols for saving, sending payments, accessing global financial services, and managing their private information. Silk offers a secure self-custody wallet that can be restored without the need for trusted guardians.
Zeronym. This platform serves as a proof of identity and private identity management. It offers fast client-side privacy for identity verification, supporting digital credentials from 180 countries. With Human Keys, individuals can confidentially verify any fact without disclosing any information in a zero-knowledge manner. Businesses can leverage Zeronym for compliance-focused KYC/AML procedures with privacy-preserving features for ongoing surveillance.
CONTACT & SOCIALS
For PR enquiries users can contact
Users can stay informed and connected with the Holonym Foundation and its initiatives:
🌐 holonym.id , mishti.network , silk.sc
✖️ X Holonym Zer0nym Mishti Network Silk
📲 Telegram Holonym Official Mishti Network Mishti Community Holonym Dev Support
🎙️ Farcaster holonym zeronym silkysignon
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