Listen to this articleHumaniq is an innovative new generation mobile bank built on blockchain with a goal of connecting the 2 billion unbanked people to the global economy. Humaniq has eliminated the need for passwords and simplified the process by taking advantage of the newest technologies available and using them to identify users via biometrics. To find out more about their platform we sat down with Alex Fork, co-founder of Humaniq:
Q: Alex, could you explain the functions and advantages of your blockchain financial platform?
A: Humaniq’s financial ecosystem is aimed at empowering the $2 billion unbanked people around the world. The goal of our financial platform is to provide convenient blockchain-based financial services and connect the impoverished to the global economy. With Humaniq, users have access to services that are out of their reach – P2P lending, small business loans, insurance, and remote work. These services are offered by third party companies that choose to work with our Humaniq API.
We, at Humaniq, want to craft a completely new financial ecosystem that can be accessed and used by everyone, at any time, regardless of social or financial status. One of the core benefits of our platform is that it is built on the Ethereum blockchain. The system only needs a user’s facial features or vocals to set up identification and create an account. Also, we’ve made the app work perfectly on the cheapest smartphones too; and that’s because we know that the people in underdeveloped countries can’t afford to make such investments.
To use our blockchain-based financial platform, users will have to set up an account and perform certain tasks to accumulate HMQ tokens. Then, they can exchange the tokens to their local currency via third parties, and spend the money as they see fit.
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Q: Can you give us more insights into your technology?
A: Humaniq is not a proprietary blockchain. Our technology is well-established on Ethereum, which means that we’re entitled to create our personal exchange-tradeable token system – the HMQ. We want to make the system as convenient to use as possible, therefore transactions can easily be handled in bitcoin, ether, and other cryptocurrencies. Our concept is completely different from PoS and PoW methodologies. We wanted to adopt a brand-new approach – PoF (proof of face). New HMQ tokens are generated by users’ actions, whether it’s opening an account, performing actions, inviting friends, etc. The goal is to help everyone take advantage of the Humaniq economy. Because we want to make the process effortless, we’ve eliminated emails, passwords and IDs. We use biometric identification for registering users and verifying transactions.
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Q: What’s Humaniq’s story? How did Humaniq start?
A: We launched Humaniq in an attempt to give the unbanked an opportunity to live a comfortable life and at the same time contribute to the growth of the global economy. Over 2 billion people around the world don’t have access to a financial institution. These people don’t have IDs, passports and other documents required to open a bank account. We knew that that there’s a need that must be filled – a new market was born, Humaniq. We took advantage of the most advanced technologies to develop our platform – the blockchain and biometrics, and we made merged these two into one massive next generation bank.
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Q: What makes Humaniq a good choice?
A: As opposite to common cryptocurrencies, Humaniq abides by an egalitarian emission mechanism. People that use our platform can mint a limited amount of HMQ coins; and that’s exactly what makes us so special. We’re not trying to compete in developing the next big thing in specialized software. Our goal is to provide an accessible infrastructure for the people, where the unbanked can earn HMQ coins from the comfort of their homes. They can work using the app, and provide different services and earn coins, and they can get loans and start a business. The beauty of our platform is that HMQ tokens can be exchanged into our users’ local currency.
Q: What are your plans for keeping Humaniq on the forefront of technology innovation?
A: We plan on keeping Humaniq at the forefront of technology innovation by expanding and encouraging the use of cryptocurrency. With our easy-to-use bio-identification process, the company aims to appeal to even the most impoverished countries in Africa and Asia. By reducing poverty levels, we want to encourage remote work, thus widening economic growth at a global scale.
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