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Humaniq Aims to Bank the Unbanked With its New App

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Humaniq

On April 6 2017, blockchain startup Humaniq launched their ICO (initial coin offering) that will run until April 27. The ICO is meant to raise funds for the Humaniq project, that aims to provide banking solutions to over 2.5 billion people globally, who don’t have access to financial services.

The ICO received plenty of attention from many publications, which gave it favorable reviews. So far, Humaniq has managed to raise over $4,000,000 during their ongoing crowdsale. Previously, the company received several inquiries from investors with pre-order reservations totaling to about 600 BTC. Early adopters will qualify for bonuses ranging from 12.5 to 49.9%, until the 22nd of April.

Creating new opportunities

In an interview, Humaniq CEO and Chief Strategy Officer Dinis Guardia stated,

“We are thankful to the world crypto community and all the individuals that choose to engage with our Humaniq ICO. There are very few organisations and technology apps doing this with all the new tech available. We are focused in creating solutions using decentralized ledger solutions, IOT and AI driven solutions but our aim is to use it in a simple way to tackle financial inclusion.”

In addition to connecting people from emerging economies to the power of the world economy, users will also be able to generate income by performing a variety of services for other users. This include, small business loans, P2P loans, pension and investment accounts, insurance, and document security. The money they earn can be converted into bitcoin or other altcoins like ether, or use mobile cashiers to exchange (HMQ) Humaniq tokens for fiat currencies.

What is Unique About Humaniq?

To put it simply, the Humaniq project integrates blockchain technology to promote financial inclusivity among the unbanked people in third world countries. This will happen through the use of a biometric identification process that requires the user to have a smartphone with an inbuilt camera.

The biometric identification process is mandatory for all users and takes less than 20 seconds to pass. In addition, you don’t need identification documents or an e-mail. Your identity will be verified through modern recognition software, thus the process will only involve the taking of photos, videos, facial gestures, and speech. Users will be able to tap into the Humaniq mobile app and have access to a global financial network to lend, borrow, save and make payments.

Once new users have passed the biometric identification phase, they will be rewarded with Humaniq wallets. Each wallet comes with free coins and users can also obtain more coins, by making transactions and inviting new users to the app.

The smartphone app will be able to work on the cheapest smartphone, as it will use universally recognizable symbols instead of words. Users will be able to tap into the Humaniq mobile app and have access to a global financial network to lend, borrow, save and make payments.

Proof of Concept’ Testing

HumaniqCurrently, the beta version of the smartphone app is available for users and has so far managed over 1000 downloads. This not only shows interest in the project but is also a valuable source of feedback to the company.

I have personally been testing the app and I can definitely see how a simple to use mobile money app could take off in developing countries where mobile phone adoption is high but access to financial services is low.

As stated in the Humaniq project whitepaper, the full product launch (mobile app and exchange app) will occur in July 2017. In September the company will begin expanding the project to underdeveloped regions and large cities such as London and Singapore. The company also plans to further decentralize its structure, with the integration of virtual cards and fintech start-ups in 2018.

If you still want to take part in Humaniq’s ICO you can do so here

 

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46 Companies Join Binance Charity to Launch Stablecoin in Support of Feminine Health

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Binance Charity

An alliance of blockchain companies has joined forces to support a philanthropic project focused on the African continent. Led by Binance Charity Foundation (BCF), the charitable arm of the world’s largest cryptocurrency exchange, the initiative will involve the issuance of Pink Care Token (PCAT), a stablecoin that will operate on Binance Chain.

BinanceThe project will help channel funds to Uganda for the purchase of sanitary products, which many women lack access to. The first batch of Pink Care Token and sanitary pads is scheduled for delivery in the country in mid-July in Uganda, with the aid of government ministers.

“Pink Care Token is the first social-impact stablecoin issued on Binance Chain. A part of our mission is to promote cryptocurrency adoption, and I think charity is one of the most efficient ways to bring cryptocurrency value to more people,” said Binance CEO Changpeng Zhao (CZ).

Leading blockchain and financial companies that have pledged their support for the initiative include Ripple, Tron, Vechain, Matic, Arrington Capital, and Celer. As the size of the cryptoconomy has grown, delivering outsized returns to its early believers, many supporters within the ecosystem have sought to share their success with the world through altruistic means.

Despite their global nature, crypto assets have yet to permeate many of the world’s most underdeveloped nations, where access to food, shelter, and medicine remain challenges that must be overcome in addition to realising full financial access. Initiatives such as Pink Care Token provide an effective way of helping communities in some of the world’s most impoverished regions while capitalising on the transparency that is one of the hallmarks of the blockchain technology that underpins the industry. All of the funds that are contributed to the project and delivered in Uganda can be tracked on-chain.

Contributors are encouraged to join the campaign by donating at:
https://www.binance.charity/period-poverty

Funds will go towards ending ‘period poverty’ through providing sanitary products for Ugandan women, improving their quality of life and providing a clear demonstration of what the crypto industry can achieve through multilateral philanthropic efforts such as BCF’s Pink Care Token.

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Luno Survey Shows Low Consumer Confidence in Current Financial System

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Low Consumer Confidence

As the United Nations Monetary and Financial Conference celebrated its 75th anniversary on July 1, Luno released findings indicating that consumers from emerging markets have low confidence in the current financial system. The conference, also known as the Bretton Woods Conference, established the financial system we use today in 1944.

The Future of Money Survey

LunoLuno’s Future of Money survey discovered that security is one of the areas of concern in the current financial system. These views were given by 36 percent of respondents from South Africa, 35 percent from Nigeria, and 24 percent from the UK. The other areas of main concern are transparency and economic benefit.

Marcus Swanepoel, CEO of Luno, said: “The survey results show that emerging markets are seeking a change to the financial system which was created 75 years ago. The increase in population, changes to the distribution and inequality of wealth, at a time of tremendous steps forward in technology means that the current financial systems need to undergo another Bretton Woods moment.”

Furthermore, the survey showed that consumers from emerging markets have a more developed understanding, protection, and knowledge of money compared to those from developed markets. This is because they do not have direct access to wealth, the report explained.

Struggling Economies

Although our current financial system was established 75 years ago, many countries are still struggling economically. According to the survey, 27 percent of South Africans and 23 percent of Nigerians felt that their economies were performing poorly. This view was held in rural areas more than in urban areas because the former has inadequate financial systems.

Moreover, 23 percent of respondents in Nigeria and 22 percent of respondents in South Africa said it was challenging for them to send money overseas.

“We have seen little change to the global monetary system over the last 75 years, particularly amongst developed economies where financial institutions have built a system around the transfer of currencies, assets, and commodities which benefit a stable and strong economy. As technology advances, it is important that institutions globally find a way of adopting these advancements, enabling emerging markets to have the same access to money and transfer of assets,” Swanepoel stated.

The survey further revealed that 91 percent of South Africans pay for a personal bank account while 75 percent use mobile banking. Additionally, South Africa had the second highest percentage of respondents that said they invest in products such as mutual funds and stocks.

Luno is a global crypto company that carried out the Future of Money survey to understand the world’s view of the current financial system. The survey questioned more than 7,000 people from South Africa, Nigeria, Italy, Malaysia, the UK, France, and Indonesia.

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Youngest Cryptocurrency Entrepreneur in Africa Leads Education Drive in Ghana

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BlockXAfrica

Ghana and the rest of Africa continue to lack behind in bitcoin usage and adoption. Despite the fact that Ghana led the Google Trends chart for the keyword “bitcoin” recently and continues to be part of the top three on the same chart, the West African nation has recorded very low patronage of blockchain technology.

BlockXAfricaIn light of this, the ​Youngest Bitcoin Entrepreneur in Africa​, Elisha Owusu Akyaw, who started his journey of innovation in the blockchain space at the age of 16 seeks to promote bitcoin and blockchain adoption in Ghana through an education campaign.

The young Ghanaian has made headlines with his work in the industry, being described as the youngest “Bitcoin Entrepreneur” and was listed as part of the ​Top 20 Blockchain Influencers in Africa​ by BitcoinAfrica.io.

Elisha’s education drive will be done under the BlockXAfrica brand. BlockXAfrica is a Ghanaian based blockchain startup that seeks to bridge the blockchain and cryptocurrency education gap through advocacy, collaboration, and innovation.

BlockXAfrica believes that blockchain has a lot of potential in accelerating the development of Ghana, including fixing our financial woes through cryptocurrency usage, checking corruption through blockchain backed record systems, fixing our birth and death registry with blockchain solutions and more.

BlockXAfrica is made up of a group of young people from Ghana with the aim of teaching, advocating and spreading the gospel of cryptocurrencies. The aspiring blockchain advocacy powerhouse intends to do this through strategic educational campaigns and social intervention programs & projects.

BlockXAfrica’s education campaigns seek to enlighten people on the importance of cryptocurrency and its various use cases across the continent while addressing the various cryptocurrency scams that have invaded the industry in Africa which is one of the highest contributing factors to distrust in the technology by promoting tested industry standards.

Aside from education, ​BlockXAfrica​ will also be partnering with local developers to create innovations backed by blockchain technology to solve various social issues in Ghana. What’s more, the company will be donating some of its proceeds to charities across the country, as a way to show the masses how blockchain can change lives.’

BlockXAfrica organised its first meetup during the last weekend and plans to embark on a tour across the country.

The guest post was contributed by BlockXAfrica. 

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