Photo Credit: Global Diaspora News (www.GlobalDiasporaNews.com).
by MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – A blockchain-based economic empowerment initiative has been announced as a significant step forward in the integration of biometric technology with blockchain for identity verification in the continent.
Called the Humanity Protocol, it is a partnership between Humanity International Investments (HII) and BIO-key International, the biometrics technology firm.
The new scheme enables individuals, particularly in Africa, to authenticate their identities through a palm scan and securely claim their digital footprint through a Non-Fungible Token (NFT).
The innovative approach is anticipated to enhance security and privacy in digital transactions and empower individuals by providing them with a verified and immutable digital identity.
To date, the partnership has already garnered approximately 15 000 palm scans with plans to verify each of the current registered users.
The Humanity Protocol is hailed as pioneering a digital identity revolution, leveraging the potential of Africa’s young and rapidly urbanizing population to ensure broader access to the decentralized digital economy.
The community staking program is Humanity International Investment’s commitment to inclusivity and security in the digital space.
“This milestone demonstrates our commitment to revolutionizing digital identity in Africa and beyond, made possible by our partnership with BIO-key, a leading biometric technology provider,” said Aly Ramji, General Partner of HII.
Humanity Protocol has expanded to include a groundbreaking Community Staking programme, engineered to function as a comprehensive ecosystem where NFTs represent the identity of participants. Each NFT assigns a unique digital identity to each user.
The initiative has thousands of unique registered users across 94 countries, with a significant footprint in Nigeria and Kenya.
“This innovative programme is designed to provide financial benefits to participants, fostering a robust and financially inclusive community to those at the bottom of the pyramid across Africa and Asia,” Ramji said.
HII is a Dubai-based social impact fund dedicated to fostering financial inclusion across Africa.
– CAJ News
Source of original article: Technology – CAJ News Africa (www.cajnewsafrica.com).
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