The Hypernet Protocol aims to amalgamate instantly finalized, blockchain-based payments with a privacy-preserving, sybil-resistant, "non-fungible" identity registry framework that is governed by the Hypertoken community through a Decentralized Autonomous Organization. The combination of these elements enables merchants to securely accept cyptocurrency payments in their traditional online platforms with minimal code intrusion and without specialized knowledge of Web3 technology and digital assets while also complying with various regulations regarding electronic funds transfer. The authors of the Hypernet Protocol believe that a decentralized, blockchain-secured, community-driven payment and identity solution will revolutionize the cyber infrastructure landscape and that it is broadly generalizable to various decentralized marketplaces and subscription-based services.