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Terence Kwok
Terence Kwok is the founder of the decentralized identity project Humanity Protocol and the former founder and CEO of the hospitality technology unicorn Tink Labs.[1][2] His career is noted for the rapid scaling of his first major venture and a subsequent re-emergence in the Web3 space with a focus on privacy-preserving, biometric-based digital identity.[3]
Education
Kwok attended the University of Chicago, where he studied Economics. He reportedly left his studies before graduating to concentrate on building his first company, Tink Labs, which he founded at the age of 19.[1]
Career
Tink Labs (2012–2020)
In 2012, Kwok founded Tink Labs, a technology company aimed at the hospitality industry.[1][3] The company's flagship product was "handy," a smartphone provided to hotel guests for complimentary use during their stay. The device offered free internet access, local and international calls, and curated city guides, with hotels paying a subscription fee for the service, which served as a basis for later work with blockchain technology.[1]
Tink Labs experienced significant growth, deploying its devices in over 600,000 hotel rooms across 82 countries and reporting a user base of 12 million customers at its peak.[1][2] The company attracted substantial venture capital, raising over 1 billion, making it one of Hong Kong's first startups to achieve this milestone.[3]
Despite its rapid expansion, Tink Labs faced operational and financial difficulties. Reports cited high operational costs, an unsustainable business model, and an inability to secure further funding as key challenges.[1] In mid-2019, the company began to cease its global operations and conducted mass layoffs.[2] The company officially entered liquidation proceedings in January 2020.[2][3]
Humanity Protocol (2023–Present)
After a period away from the public eye, Kwok re-emerged in the Web3 sector with the launch of Humanity Protocol. The project, developed by the Human Institute in collaboration with Animoca Brands and Polygon Labs, was publicly announced when it emerged from stealth on February 20, 2024.[4][5] As founder and CEO, Kwok leads the project, which moved from testnet development to a live mainnet and expanded from palm-based proof-of-humanity to privacy-preserving verification of online credentials.[16]
Kwok has stated that the mission is to build a "human layer for Web3" by establishing a secure and private method for users to prove their unique identity online.[5] He has contrasted the decentralized approach of Humanity Protocol with the centralized models of Web2, drawing on his experiences at Tink Labs to emphasize the importance of user-owned data and identity.[1] In public discussions, Kwok has articulated the project's goal of creating a more equitable and human-centric internet. During a Twitter Spaces event, he stated, “With deepfakes on the rise, Humanity Protocol focuses on creating an unspoofable way to verify human presence without sacrificing user privacy”.[8]
Humanity Protocol
Humanity Protocol is a decentralized identity project that aims to provide a Sybil-resistant identity verification layer for Web3 applications. The project's core objective is to allow users to verify that they are a unique human without revealing sensitive personal information.[4]
Technology and Architecture
The protocol is built on a technological stack that combines biometrics, zero-knowledge cryptography, and a Layer 2 blockchain solution.[1]
- Proof-of-Humanity (PoH): The system is built around a consensus mechanism called Proof-of-Humanity, designed to verify the uniqueness of each participant in the network.[2]
- Palm Recognition: The primary method for biometric verification is palm scanning. The protocol uses a user's smartphone camera to capture the unique vein patterns in their palm. This method is promoted as a non-invasive and more accessible alternative to other biometric identifiers like iris scans.[1][6]
- Zero-Knowledge (ZK) Proofs: To protect user privacy, the protocol integrates ZK-proofs. This technology allows identity verification to occur without the user's raw biometric data being stored on a central server or shared on the blockchain. The verification process generates a cryptographic proof on the user's device, which can be validated by the network while preserving anonymity.[1][3]
- zkTLS: Available on the live mainnet, zkTLS was developed with Reclaim to let users create proofs of claims based on data from trusted web services. Claims can include travel loyalty, education, financial, or professional credentials; users can prove them without disclosing the underlying webpage or other sensitive personal data.[17][16]
- Blockchain Infrastructure: Humanity Protocol is constructed as a zkEVM Layer 2 network on Ethereum, utilizing the Polygon Chain Development Kit (CDK). This architecture is intended to provide scalability and low transaction costs while inheriting the security of the Ethereum mainnet.[4]
The protocol is designed to support various use cases, including fair airdrop distributions ("fairdrops"), one-person-one-vote governance systems in DAOs, decentralized social media, and enterprise solutions for fraud prevention.[7][4]
Funding and Partnerships
In May 2024, Humanity Protocol raised a $30 million round at a $1 billion valuation, achieving unicorn status.[9] The round was led by Kingsway Capital and Animoca Brands. Other participating investors included Polygon Ventures, Mechanism Capital, Shima Capital, Hashed, CMCC Global, and Blockchain.com.[1][3] On January 27, 2025, the project announced a $20 million round co-led by Pantera Capital and Jump Crypto, valuing it at $1.1 billion.[18]
The project maintains strategic partnerships with its key backers. Its collaboration with Polygon Labs is foundational to its technical architecture, as it is built using the Polygon CDK. The partnership with Animoca Brands is focused on ecosystem growth and integrating the identity solution into Web3 gaming and metaverse projects to combat bots.[4][3] The protocol's leadership includes a foundation with directors Yat Siu of Animoca Brands and investor Mario Nawfal.[10]
Development and Timeline
Humanity Protocol launched publicly in February 2024, with its testnet scheduled for the second quarter of 2024.[4][1] The testnet saw rapid adoption, reportedly onboarding one million users within its first 52 days.[8] Humanity Testnet Beta went live in May 2025. The palm-scan app and $H fairdrop launched in June 2025, and $H is the network token.[19] Humanity Protocol launched its mainnet in 2025, with zkTLS available for credential proofs.[17]
June 2026 Security Incident and Recovery
A Quantstamp investigation summary dated June 11, 2026, reported that on June 5 a Humanity director received a phishing email impersonating Bithumb and downloaded a malicious attachment. The malware gave an attacker remote access and enabled the theft of keys. On June 8, the attacker used a stolen Ethereum account key to move approximately 141.18 million H. On BNB Smart Chain, compromised Safe signer keys enabled the attacker to take control of a ProxyAdmin contract and mint approximately 100 million H.[20]
The investigation described the attacker selling H through Uniswap and PancakeSwap over roughly eight hours. It reported an approximately 89% decline in market price and more than $21 million in ETH proceeds at identified attacker addresses, while BNB proceeds were still being tallied.[20] Reporting characterized the exploit as roughly $36 million.[21] In later comments, Kwok said the exploit was traced to a compromised employee laptop on which production keys had been backed up, and emphasized that the team was rebuilding operational security after the device compromise.[21]
Following the incident, the project retired the affected H token and deployed a new audited Ethereum ERC-20 H token. Eligible holders’ pre-incident balances were captured for a 1:1 replacement distribution; certain balances held in liquidity pools, vaults, or other smart contracts, certain third-party integrations, and eligible post-snapshot purchases still held were directed to a manual claims process.[22][23] The project announced a mainnet relaunch with the replacement H token as its native gas token.[22] An explorer record shows that block 34,373,454, containing two transactions, was recorded on October 15, 2026, establishing that the mainnet was producing blocks by that date.[24]
Public Appearances and Writings
Kwok is an active public speaker and writer, discussing topics related to digital identity, Web3, and the impact of artificial intelligence.
Speaking Engagements
He has spoken at numerous global technology and blockchain conferences. His appearances include:
- Consensus Hong Kong (February 2025): Spoke on a panel titled "In AI We Trust?" as part of the Decentralized AI Summit.[12]
- Proof of Talk Summit (June 2025): Participated as a speaker and held a fireside chat alongside Yat Siu of Animoca Brands.[13][5]
- TOKEN2049 (2024): Discussed decentralized identity and the lessons learned from centralized Web2 models.[1]
- ETHDenver (2024): Presented on Proof-of-Humanity and the challenges of building Sybil-resistant systems.[1]
- Other Events: He is also listed as a speaker at events such as the World Economic Forum in Davos and other Consensus summits.[14]
Published Articles
Kwok contributes to several technology and business publications as part of the Entrepreneur Leadership Network®. His writings advocate for decentralized security models and a re-evaluation of how companies handle user data.
- In Entrepreneur, he authored an article titled, "We Need to Rethink Our Approach to Customer Data and Identity Verification. Here’s Where to Start," which argues for verification over data hoarding.[14]
- In Biometric Update, he published an article on September 30, 2024, titled, "Owning your identity in the web3 age: The shift to decentralized security," discussing the need for individuals to control their digital identities.[15]
Interviews and Media
Kwok has been featured in various crypto and technology media outlets. He was interviewed by The Defiant in October 2024 and by Pulse 2.0 in August 2024, where he detailed the vision and technology behind Humanity Protocol.[7][6] He also participated in a widely followed Twitter Spaces event with industry figures Sandeep Nailwal of Polygon and Yat Siu of Animoca Brands to discuss the protocol's rapid growth and technological advantages.[8] On August 18, 2026, Kwok discussed the exploit, the response, and the token migration and recovery plans in an interview on The Block’s The Starting Block.[25]
Awards and Recognition
In 2016, Kwok was named to the Forbes 30 Under 30 Asia list for his work with Tink Labs.[3]
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