Humanity Protocol CEO previously founded the unicorn company Tink Labs and went bankrupt

ChainCatcher news, according to Protos, Worldcoin competitor and Humanity Protocol CEO Terence Kwok, founded Tink Labs in 2012. This unicorn company raised hundreds of millions of dollars to provide smartphones for hotels for guests to use during their stay.

However, the company began to operate at a loss in 2017 due to aggressive expansion policies and other reasons. Eventually, Tink Labs' European division began liquidation in January 2020, followed by bankruptcy proceedings. Last year, Kwok launched Humanity Protocol, a blockchain-based identity verification company that relies on scanning people's palms as a means of identification.