The global economy is inaccessible for a third of the world's population. These people, living in less economically developed countries are not offered the concept of "banking services." There are a number of reasons for this: their physical distance from banks, the high cost of services, even the basic lack of a bank card, all of which limit their financial mobility. Many of these people are very poor: their incomes are no more than $30-50 a month. It is therefore important to note that electronic transactions are cheap, saving almost 90% compared to traditional payments. In addition, this opportunity enables a reduction in the number of people dependent on state benefits and fights against fraud, making payments more transparent, as well as involving women in the process. All of these factors affect both the financial security of the state and the quality of its citizens’ lives. Currently, mainstream financial institutions from leading economies are unable to organize widescale access to electronic payment systems.
It's time for new technologies.
What is Humaniq?
Humaniq is a platform based on the Ethereum blockchain.
Its goal is to give ordinary people the capability to engage with the world economy and change their lives for the better.
Why use blockchain?
1. It is safe.
Users do not need to carry their money to the bank; all payments in the system are transparent and cannot be changed or deleted.
2. It has no maintenance costs.
All data is stored on intrasystem devices.
The main user platform is a mobile app. Gaining access to the system will require only a smartphone with mobile Internet access and a camera. After installing the app, the user verifies their identity via facial and vocal recognition. Once they have opened a full account, they can use it straight away. It is beneficial for both users – because they will never lose access to their profile – and companies, as they can be sure that they are dealing with a real person. All data will be stored in its own database.
Humaniq has its own cryptocurrency (HMQ), which is added to the account of any new user when they first appear in the system. New users can receive HMQ to the value of $18, which arrives in their account upon completion of several stages: identification, friend invitation, making payments. There is the potential for issuing branded smartphones, the cost of which will be equal to exactly 18 dollars. When buying a device, the user pays for their expenses straight away and begins to learn how to use the platform. A nice bonus is a user-friendly interface with a set of games that will become a motivator for the further use of the application.
Mobile wallet, built-in instant messenger for instant money transfers and communication. Transfers between Humaniq users will always be free of charge. All received funds can be exchanged for local currency. Depending on the country, either local partner organizations or LocalBitcoins (P2P-exchange between private individuals) will carry out currency exchange.
The company is the guarantor for the security of the transaction.
But that’s not all. The firm wants to make Humaniq a platform on which to base your projects, in a similar way to the Chinese application WeChat, which allows you to make online transfers, pay bills, and make payments in stores. The first version of Humaniq will include three projects from third-party developers. With their help, it will be possible to work remotely, apply for loans and receive charitable donations.
In spring of this year, the company successfully completed its ICO and more than 12 thousand people around the world became investors. HMQ tokens are now traded on crypto-exchanges, and the company's capitalization is more than $20mn.
After its ICO, Humaniq joined the oldest London bank, Barclays.
Humaniq’s headquarters are located in London, and the company's CEO, Dinis Guarda, was recently named as one of the top-ten most influential people in the blockchain industry.
Humaniq is still growing! The company has created an accelerator for third-party projects and negotiations are underway towards cooperation with the UN and the Bill and Melinda Gates Foundation.
The project has a broad base: teams are working on Humaniq's product all over the world. Brand ambassadors in Humaniq's target countries help the firm to better understand the local specifics and needs of their inhabitants, which we take into account when developing the project.
Humaniq Global Challenge
In order to demonstrate the capabilities of the Humaniq platform to developers and entrepreneurs, the firm is holding the Humaniq Global Challenge in autumn 2017. Team members from the top three projects will travel with us on an expedition to Kenya to see how the potential users of their services live.
The contest will take place over several stages: a qualifying round, semi-final, and final.
The 30 best projects will make it into the semi-final, where they will submit a prototype of their service and pitch to the jury. They will be helped by mentors, who will also participate in the second selection. Ten teams will go through to the final and receive support in promoting their service. From these teams, three will be chosen to receive assistance towards completing their ICO, and one representative from each project will travel to Kenya to meet with people there.
Criteria for evaluating the projects:
● Quality and practicality ● Feasibility of implementation on the Humaniq platform ● Presence of a competent team ● Level of the need for the product amongst unbanked people
Judgement regarding the relevance of the projects will be based on the opinion of the Humaniq ambassadors from Africa, and direct interactions with local residents.
The outcomes of the Humaniq Global Challenge:
● Placing the best projects on the Humaniq platform ● Conducting an ICO for three of the final ten startups ● An expedition to Kenya, during which a film about the people of Africa will be made. ● A conference in London
Competition rules and expedition details can be found at humaniqchallenge.com
Plans and prospects
Humaniq is looking for like-minded people, with whom the company will turn its app into a multifunctional platform for everyone. By 2018, Humaniq plans to connect a million users through the system. For Humaniq, the story of the company is not one of sympathy and pity, but of cooperation and networking.
Many technology companies are beginning to pay attention to the "next billion" mobile users. Humaniq is already taking steps which will allow the world to recognize of the inhabitants of poor countries. Humaniq does not offer a complete solution for saving the world; rather Humaniq invites everyone who cares, to pay attention and to look at the world through different eyes.