In a bold move to combat the growing threat of AI-generated identities in the crypto space, VeryAI has secured a $10 million seed funding round led by Polychain Capital.
The company is developing a palm-scan identity verification system designed to distinguish real users from bots and deepfakes. This technology aims to bolster security for crypto exchanges, fintech companies, and online platforms by leveraging the unique biometric properties of human palms.
A New Era of Identity Verification
“We’re entering a period where the internet can no longer assume that every account, message, or video is created by a real person,” VeryAI founder and CEO Zach Meltzer told Cointelegraph. “AI is powerful, but it also breaks many of the trust assumptions that the internet was built on.”
The system captures palm images using a smartphone camera and converts them into encrypted biometric signatures. These signatures are used to confirm a user’s humanity without storing any identifiable data. Palm biometrics are highly distinctive and less publicly exposed than facial features, making them an ideal choice for identity verification in the digital age.
Zero-Knowledge Proofs and Privacy
VeryAI’s platform records identity attestations on the Solana blockchain, utilizing zero-knowledge proofs to allow users to verify their status across platforms without revealing personal information. This approach ensures that users can prove their authenticity while maintaining their privacy.
Meltzer emphasized that the goal isn’t just to prove that a human exists somewhere; it’s to help platforms verify that a real person is present and acting authentically. The company is already collaborating with organizations such as MEXC, Colosseum, Clique, and Talus, with more centralized exchanges and wallets preparing to integrate the palm verification system.
Industry Backing and Future Prospects
The funding round also attracted investments from the Berggruen Institute and Anagram, with Solana co-founder Anatoly Yakovenko joining as an angel investor. The support from these industry leaders underscores the growing demand for robust identity verification solutions in the crypto ecosystem.
As AI-generated identities continue to pose significant risks to the integrity of digital platforms, the need for innovative solutions like VeryAI’s becomes increasingly critical. With the backing of leading investors and a focus on privacy and security, VeryAI is well-positioned to lead the way in restoring trust in the digital world.
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