Holonym Foundation Expands With Acquisition Of Gitcoin Passport

According to Cointelegraph, the Holonym Foundation, a project focused on zero-knowledge (ZK) digital identity, has expanded its network by acquiring the identity verification platform Gitcoin Passport. The acquisition, valued at $10 million, aims to enhance Holonym's decentralized identity (DID) tools within its Human.tech suite. This strategic move, finalized in late 2024, integrates Gitcoin Passport’s proof-of-humanity system with Holonym’s Human Network, which utilizes ZK technology to ensure privacy in onchain reputation management. Holonym co-founder Shady El Damaty stated that the combined efforts with Human Passport have resulted in over 2 million users and more than 35 million credentials. These credentials will be transitioned to ZK-friendly formats on the human network in the coming months. As part of the acquisition, Gitcoin Passport will rebrand to Human Passport, reflecting its role as a proof of humanity (PoH) solution. This rebranding allows individuals to verify their identity without revealing sensitive personal information. The Passport functions as an identity verification aggregator, enabling users to collect verifiable credentials, or "Stamps," from various Web2 and Web3 verifiers, including Google and Holonym. It is designed to protect user privacy and prevent Sybil attacks, which involve creating fake identities to manipulate networks. El Damaty highlighted that the Human Passport is intended to be globally accessible, offering a range of verification methods such as online reputation, web accounts, phone numbers, government IDs, or biometrics. He also mentioned the upcoming inclusion of an anonymous biometric method, developed and piloted by Holonym, to provide displaced populations in the Global South with a foundational identity for receiving direct aid and humanitarian services. The acquisition of Gitcoin Passport by Holonym signifies increasing competition in the digital identity sector, with competitors like World and Humanity Protocol also advancing DID technology. El Damaty emphasized that Holonym is not merely an identity protocol but also powers financial coordination networks with keys, wallets, and identity proofs. He noted that the current state of Web3 ID solutions is undergoing consolidation similar to the wallet space. He suggested that the leader in the identity space is likely to dominate the wallet space as well, with entities like Human.tech, which are developing in both areas, being well-positioned for success. El Damaty also mentioned that Human.tech is advancing in wallet development, leveraging recent breakthroughs in 2PC-MPC technology.