Delaware, United States, August 16th, 2024, Chainwire
Led by Finality Capital and Paper Ventures, with participation from Arrington Capital, Draper Dragon, Lightshift, and others.
Holonym Foundation, an organization building the next generation of digital identity security for the decentralized web, is announcing the completion of a successful $5.5 million seed funding round. The funding round was led by Finality Capital and Paper Ventures, with significant participation from Draper Dragon, Arrington Capital, Lightshift, Zero Knowledge Ventures, Zero DAO, and other prominent funds.
Shady El Damaty, Co-Founder of Holonym, said: “We’re building core person-first principles into the technology we ship out to the world. Our goal is to build a global open-source layer that upgrades the abilities of each citizen with basic access to a digital identity using cryptography to prove their personhood.”
“We can’t have self-sovereign control of our monetary assets without self-sovereign identity. The Holonym foundation is building critical middleware and applications that will make Web3 users the envy of Web2 users by giving them the power to own, govern, and selectively share their data with strong privacy and security guarantees. Holonym will be part of the solution to usher in the next trillion dollars of assets into blockchain.’’, said Kamal Mokeddem, GP of Finality Capital.
Cryptographic keys, or private keys, run the web and secure every digital interaction on the internet. But what if private keys could be built differently and in a more sophisticated way? Human Keys completely change how private keys are derived. Instead of creating private keys from random phrases, Human Keys make humans into keys. This new framing shifts ownership of digital assets from the holder of a random seed, to the human that can uniquely prove their biometrics. Human Keys make the ownership layers of the internet built on top more consumer-friendly, decentralized, and secure.
Human Keys encompass three protocols built by the Holonym Foundation, all having security and robust data privacy systems as core principles:
- Mishti Network, a breakthrough threshold entropy network that computes an Oblivious Pseudorandom Function (OPRF) on biometric data.
- This allows humans to derive random secure keys that are hard to steal, and it unlocks private homomorphic…