Holonym Foundation Acquires Gitcoin Passport in Major Merger
Holonym Foundation has acquired Gitcoin Passport, merging their operations in the proof of humanity sector. Key points include:
- Transaction details remain undisclosed.
- Holonym previously provided technology through Gitcoin Passport, which serves 2 million users needing verification of human identity.
- Gitcoin Passport will be rebranded as Human Passport.
- Eight Gitcoin employees will join Holonym's team, expanding it to 30 members.
- The digital passport aims for enhanced portability and privacy, allowing identity verification without revealing personal information.
- Upgrades will incorporate zero-knowledge proof technology for nearly 35 million credentials stored.
- Holonym has facilitated $225 million in airdrop distributions to ensure rewards go to real users instead of bots.
- Future initiatives include partnerships to assist refugees with digital identity verification for accessing financial aid.
- Holonym positions itself as a competitor to Worldcoin, aiming to establish an alternative in the identity verification space.