Detailed Guide About Humaniq
Humaniq has taken an innovative approach to the blockchain technology for using it to do well. It offer self-deploying financial framework for people who do not have access to the banks or they have extremely limited access to the banks. This project has been backed by more than 10,000 investors as well as United Nations only because of the good it can do for the world as a whole. However, it has 12,341 people that have joined the platform so far and this figure is increasing every day. It is a mobile bank which is now in its fourth generation. However, it has a plenty of experience to back up the development, network and more.
How It Works?
The team behind this project has the aim to bring millions of people who don’t really have access to the bank, so this project is designed for them to have a financial network. It will allow everyone around the globe to experience the advantages that are associated with financial inclusion; there is no need to appear at a physical bank near to you. However, it also provides these groups with more than just the basic features of a bank; they will have the comprehensive list of financial services.
According to the data from the Global Financial Inclusion Database of the World Bank has showed that nearly 2.455 billion people on this plant don’t really have access to the banks. According to this figure, nearly 53% of the adults in the world are unable to access physical banks. Therefore, Humaniq will serve them as a bank.
Humaniq will also help startups and other similar projects by offering their services to billions of people around the world.
What Is It?
There are many other online banks that are making use of blockchain technology, but this project has taken a much expanded approach for online banking with the help of blockchain technology. However, the team aims to connect billions of people from around the world that have no access to the bank. The team behind this project has analyzed the 10 years of research by those who have written the portfolios of the Poor that are focused from Africa and Asia. According to this research not only uncontrolled poverty is in these areas but there is no access to the banks in these areas. According to the theory that lack the access to the financial services is directly linked with the poverty. However, this project is the only way which is becoming the most efficient and simple method to bring financial foundations to these people.
In order to solve this problem further, they are also taking a careful look at Metcalfe’s law. According to this law, the value of a network is proportional to the square of total number of users. According to this rule, more unbanked people that join this platform will get access to financial institutions, this network will grow, and other people will become more interested to join this platform as well.
How It Provides Security and Simplicity?
In order to reach the billions of unbanked people around the world, it needs a simple method but in order to keep their baking information secure it also needs more security. However, the overall structure and blockchain of this network provide the solution to the both major issues.
This system makes use of biometric authentication, it verifies users with the face and voice, so there is no need to waste your time or resources on formal documentation for verification. Every single will get the equivalent of $20 in HMQ while signing up for this platform and its value has not link with the local currency of the user and it ensures the equality for every single user. However, the team has also designed this platform by keeping the simplicity in their mind and making it possible for those having no technical background or familiarity with tablets and smartphones for using Humaniq.
How It Helps Businesses?
The most considerable thing about this platform apart from helping people without having access to banks is that it also helps businesses to grow. However, the companies that will make use of it will also have access to the security that is associated with the protocol of Ethereum blockchain. In simple words, the complete decentralization ensures the security against corruption, hacking and loss of information. In order to make it even better, external projects and any helpful ideas will get support from experts as well as an investment in their launch to enter the system of Humaniq. Any project can merge into this system because of the open API of this system which creates an opportunity for all businesses.
How Does It Help?
In addition the particular benefits the business and unbanked people, this platform allows for remote work, as companies can depend on the users base to finish the tasks related to the processing of information. It will involve translating texts, locating geotags, identify photos and more as well as some fees in return.
This network will also manage to help other without getting any kind of risk of corruption that is linked with other charities. However, stakeholders can clearly see how much is spend between the Humaniq framework and blockchain transparency and making sure that it all goes to help other people.
With the help of this system, everyone on this planet will get a commission free loan with the help of a smartphone and app. This will also turn this network into a platform for loans and donations by helping entrepreneurs that are having low income. Therefore, blockchain technology makes it simple to give money to a company that you support, whether as a loan or a direct grant. Above all, there will no fees for transferring money due to the use of HMQ cryptocurrency. However, users will also be able to choose which point to exchange at by taking the advantage of the best rate.
What Are The Future Plans?
This platform aims to continue increasing its user base and it also hopes to get at least a billion of users from all over the world within next few years. However, this figure is almost 40% of the current population of unbanked people in the world. By taking this figure in mind, there is the potential of $4 trillion to be held in user accounts. While there are also more than 200 startups that are planning to enter this platform.
Back in December 2016, Humaniq carried out an ICO and it raised around $5 million towards the growth of this project:
Their ICO (Initial Coin Offering) was the first major chance to get Humaniq tokens and becoming a part of the global community which uses HMQ and believes in HMQ as a digital currency for many people. However, it also followed a pre-ICO back in December 2016 and it also raised $110,000.
However, the chance to be part of this project was widened to as much people in the ICO from the 6th April to 27th April. There were around 11,600 people that participated and made an average contribution of $430 and raised around $5.1m for this project.
How To Buy Humaniq?
Well, it is not possible yet to buy Humaniq with Fiat currency, so one of the easiest way to buy it at the moment is buying it with the help of Ethereum or Bitcoin and after that swap these for HMQ on any exchange. Here, we will help you how to purchase HMQ with the help of a Debit or Credit card using the Coinbase then you will be able to swap it for HMQ at Changelly.
Register At Coinbase
For those who are buying crypto for the first time, it is recommended that you should make use of Coinbase in order to make your first purchase regarding crypto. It is very simple to use even for the first timers. It totally governed by the US Government so that you will trust this platform as the safest and most reputable place in order to buy cryptocurrency. Coinbase offers you an opportunity to buy various coins like Ethereum, Litecoin and Bitcoin with the help of a debit or credit card or you can also buy them by sending a bank transfer. However, the fees charged for the cards will be higher but you will get your currency instantly.
You will have to go through some identity verification while signing up as they have to follow strict financial guidelines. You need to ensure that you will be credited with $10 in free bitcoin once you will make purchasing of $100.
In order to get registered, you will need to “Sign up” button where you will get a registration form where you will have to enter your name, email address and then choose a password.
Coinbase will send you a link through email in order to verify your email account, once you will click the link provided in the email you will be redirected to the verification page. Then you will have to provide your phone number and a photo of your ID. It can be driving license, passport etc.
You can make use of Changelly website in order to swap your Ether for HMQ coin. You can make use of this exchange to enter how many ETH you want to convert and it will show you how many HMQ you will get in return, once you are done you can go ahead by clicking the green “Exchange” button.
On the next screen you will get the message to register an account which can be done easily by making use of a social media account or by entering your email address.
Once it will get done, you will be taken to the next page that will show the transaction details. You can check over and make sure the amounts that are correct. However, once you are happy you will click the “Next” button to proceed.
On the nest page, you will be receive your HMQ wallet address where you will get the coins. You can paste this into the box and click the next button to proceed further.
After that, you will receive a final confirmation screen and here you will need to ensure that all the details are correct before proceeding further.
Changelly will then proceed further and it will provide you with an address to which you must send your Ether, so you will need to copy this address that will be provided by them and then head back to your Coinbase account.
Sending Your Bitcoin Or Ethereum
You will need to click accounts in Coinbase and then select your Ethereum wallet on the left side and then click “Send”.
Here, you will need to enter address that was provided to you by Changelly.
Here, you will need to click continue to proceed further and then you will need to confirm the transaction with the help of your phone number or email address if you have activated the 2 factor authentication mode.
Now, your transaction will be sent over the Ethereum network and it will take a short time to arrive. You can check this in your Changelly account where you will get notified about the following steps:
·Waiting for the payment.
·Sending to your wallet.
Once it will get complete a confirmation message will appear on the screen by showing “Transaction Complete”. However, you can now check your HMQ wallet where you will confirm if you own your HMQ.
In this ever expanding world of blockchain technology and cryptocurrencies, the platform of Humaniq is refreshing as it puts its main focus to help people all over the world. However, this innovative use of this blockchain can make a positive impact on the lives of people that don’t have access to physical banks. This project acts as a worldwide mission by providing life changing technology that shows how people can make use of the blockchain for the good. According to the sponsors and whitepaper, the goals of this platform seem very feasible and helpful for the support of people.
Website – https://humaniq.com/