TON Society Allocates 1 Million TON for Identity Verification Rewards

The TON Society has partnered with AI firm HumanCode to implement an identity verification mechanism. A total of 1 million TON (~$5.9 million) has been allocated as incentives for completing the verification process.

? @ton_society has partnered with HumanCode, an innovative AI technology company, to transform the way users verify their identity online!

TON Society offers 1M $TON in incentives for users to verify their identity ?

Why does this matter? Let’s find out ?⬇️ pic.twitter.com/uZPFSXGkmF

— TON ? (@ton_blockchain) April 8, 2024

HumanCode will provide palm scanning technology, which offers “fast and highly accurate” verification.

“The system works on any smartphone or browser and is designed to recognize all skin tones, ensuring everyone can benefit from the advanced identity verification mechanism. The privacy-focused solution confirms human presence without compromising individual anonymity,” the announcement stated.

The partnership aims to tackle the “growing problem of bots” and introduce Web3 identification in Telegram.

The allocated funds will be distributed among TON Society members who verify their identity using a palm print. Anyone can join the community by linking a wallet on the website.

TON Foundation’s Director of Development, Ekin Tuna, told Cointelegraph that supporting verification protocols like HumanCode is a step towards practical blockchain use:

“Scalable, private, and decentralized identification will help connect the first billion users to the Web3 ecosystem in Telegram.”

According to HumanCode founder Tim Zhang, the three-tier data protection system supports American SOC2 security certifications.

This approach ensures that the scanned palm print is encrypted before being sent to HumanCode’s servers. The verification process is conducted locally on the user’s device, eliminating the need to share sensitive data with third parties.

“In our experience, palm recognition technology is inherently more acceptable. For most people, scanning a hand with a smartphone camera seems less intrusive than eye scanning,” Zhang added, alluding to Sam Altman’s Worldcoin project.

Following the announcement of the initiative, the TON token rose by 10.5% to a record $5.9. Its market capitalization reached $20.2 billion.

Previously, developers of The Open Network blockchain announced the distribution of 30 million TON for user participation in ecosystem projects. Starting April 1, the team began distributing coins across various initiatives.

Earlier in April, Telegram implemented a feature for payments in TON for displaying advertisements. Channel owners in the messenger can now receive 50% of the revenue from marketing ad displays.