Humaniq redefines affordability, particularly in emerging economies. The London-based fintech company uses blockchain and biometric technology to provide financial inclusion for the unbanked, primarily in areas with minimal or no traditional banking services. In much of Africa, Asia and parts of the Americas, most of the population has never known the basics of modern banking and has therefore not yet experienced banking. freedom and transformation brought by blockchain technology.
Since its founding in 2016, Humaniq has made remarkable progress in bridging this financial gap by providing a mobile platform that combines multiple innovative technologies to deliver secure, user-friendly financial services to unserved and underserved communities.
Blockchain at the heart of Humaniq’s mission
Blockchain technology is at the very heart of the Humaniq service. This means that every transaction carried out within the network is completely secure, transparent and tamper-proof. Unlike traditional banking systems which are more prone to errors and high transaction fees, blockchain completely eliminates the need for middlemen, allowing this fintech to offer fee-free transactions through its cryptocurrency, HMQ, for people unbanked.
Additionally, Humaniq has a revolutionary user interface that allows for easy navigation in its mobile app. People in rural or disadvantaged areas can now send and receive cryptocurrencies, make payments, and participate in other economic activities without the hefty fees charged by banks. In other words, without much difficulty, developing countries have the opportunity to directly participate in cryptocurrency and blockchain utilities simply, quickly and securely, without the need for in-depth financial education.
The power of biometric identification
What sets Humaniq apart from all other fintech solutions is its use of biometric identifications. Keeping this in mind, facial and voice recognition technology has been integrated into the platform, enabling account opening and transaction verification. This adds a whole new layer of security and opens the way for people waiting or missing government-issued ID to transact on the platform. In addition to creating security, Humaniq also streamlines the process with the biometric approach for onboarding in remote areas. Blockchain provides the required security and decentralization; biometrics guarantee secure and easy access for the users themselves.
The role of HMQ cryptocurrency in financial inclusion
HMQ, Humaniq’s native token, plays an essential role in carrying out financial transactions on its mobile application. Backed by the Ethereum blockchain, HMQ is used in fee-free money transfers and microtransactions, making it an ideal cryptocurrency for users in emerging markets with financially constrained individuals. In these transactions, blockchain provides security and transparency, thus establishing greater trust among users who have until now been skeptical of digital currencies.
Beyond transaction functionality, HMQ allows users to utilize other blockchain-enabled services, such as remote work opportunities and charitable donations. These are key aspects of life in developing countries, as people have fewer job opportunities and often organize fundraisers to deal with severe and frequent financial difficulties.
Empowering the unbanked with Blockchain solutions.
With the growing demand for decentralized financial solutions in the global market, Humaniq strives to meet this demand. By nature, blockchain is meant to be transparent, but the flexibility provided by biometric authentication puts Humaniq in an enviable position to champion the cause of increased financial inclusion for marginalized regions. This minimizes the risk of fraud and removes multiple transaction fees by opening access to financial services to millions of people who might otherwise remain excluded from the global economy. Humanitarian and blockchain-based solutions like Humaniq could well form the backbone of financial empowerment around the world in the years to come.
More information about Humaniq and its mobile application is available at humaniq.com
