HUMANIQ: A BRAND NEW FINANCIAL ECOSYSTEM
Humaniq will provide blockchain-based financial services and access to the global economy to users in emerging economies via a mobile app. We believe this app can create a huge network of users who will access services such as insurance, P2P lending, remote work, and small business loans, all provided by third party companies who will plug into Humaniq’s API.
Let's be very clear: we are not talking about a generic mobile app for a traditional bank, nor are we going to be yet another mobile bitcoin wallet. At Humaniq, we are creating an entirely new financial ecosystem, built on top of the Ethereum blockchain. And this is truly a win-win - the end users have the opportunity to lift themselves out of poverty, and engage in the digital economy, and the supporters of the currency will have a token that will have stability and longevity - as well as have utility.
What if many users do not have access to formal identification and are unfamiliar with email and 2FA?
Humaniq is using the well-established architecture of Ethereum, rather than a proprietary blockchain, as the basis of our platform. For this, we are creating our own exchange-tradeable token - HMQ. In addition, our system will also be able to handle transactions in ether, bitcoin and possibly other cryptocurrencies.
We’re using a new concept called Proof of Face (PoF), a radical departure from the energy and computationally intensive PoS and PoW methods used for most blockchain currencies. New tokens will be generated by user actions, such as opening an account, inviting friends, and carrying out other one time actions, so that every user will start with a limited amount of HMQ that they can use to begin interacting with the Humaniq economy.
To eliminate the need for formal ID or emails and complicated passwords, Humaniq is using biometric identification to both register new users and to verify transactions. It will be the first network where every user is guaranteed to be unique.
After discussing this idea with many blockchain and fintech experts and following their very positive feedback, we are now proud to present to you: Humaniq, a new financial ecosystem whose focus is on connecting the unbanked and underbanked, worldwide.
Usage Case 1- P2P and Small Business Lending
A user has an idea to do something productive, but needs capital. They select the P2P lending function on the Humaniq app and negotiate a small loan with another user.
Usage Case 2- Insurance
A craftsman wants to send hand-carved figurines to an international buyer, but the nearest international shipment center is hundreds of miles away. The seller finds an insurance provider through the app and insures their items so that they are compensated in the event of damage or loss during transport.
Usage Case 3- Remittance Payments
A worker overseas wants to send money back to their family, but neither of the parties have bank accounts. Rather than pay an excessive fee to go through a transfer agent, the worker converts his currency into bitcoin and sends it to his family member, who uses a mobile cashier service to convert bitcoin to the local currency.
Usage Case 4- Remote Work
A company has easy online tasks that are difficult to automate, yet not cost-effective to hire locals for. A Humaniq user selects tasks that they can do, and makes a small amount of bitcoin, HMQ, or ether for their work. Tasks can include things like rating products, providing reviews, or moderating videos.
Beta app release: august 2017.