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Blockchain startup Humaniq announces alpha release of mobile app

Blockchain startup Humaniq announced the alpha release of their mobile app that is focused to tackling the global issue of financial exclusion for people across the world, who do not have bank accounts.

The alpha version of the app will be initially available to 1000 people by invitation only and will be later released to all. The app will be released on the iOS and Android platforms.

“It’s a big day for our company, the first milestone of having something tangible to refine. Launching the app serves two big functions — it lets investors see the service in action and it gives us the data we need to start fine-tuning and adding key features for customers,” Alex Fork, CEO of Humaniq, stated in the blog post.

The application on iOS and Android will have various unique features, which have not been before with banking apps. The app software will have biometric ID for unlocking the app or verifying the transactions, as well as to replace the entire sign up process. The Humaniq app builds user profiles that are based on facial and voice recognition algorithms.

“Our initial target audience is people in emerging economies, and many of them don’t have email” Fork added. “By using biometric ID we make the signup process more inclusive for people with low literacy while also lowering opportunities for fraud. Each real person will only ever be able to create one account, and no one will ever be able to steal their account. For businesses, a network full of real people is a dream come true, for reasons that are self-evident.”

With the launch of the app initially, the blockchain company will focus on developing the core banking services of the app, such as remittance payments and P2P lending. The app will support various cryptocurrencies including bitcoin and ether, apart from Humaniq’s own tokens known as HMQ.

Humaniq is planning to make a global roll-out later this Fall, during which, they plan to have a network of local cashiers in place who can exchange HMQ and other cryptocurrencies for local currency. Its long-term goals are to have third party companies to plug into the network to provide additional services including insurance, data security, small business loans, and pensions.

Humaniq is planning to release their app code on Github in the near future so that 3rd party developers can begin adapting their services to plug into it. Also, the company is kicking off their ICO on April 6th and will be sponsoring a start-up competition at BlockShow Europe 2017 in Munich on April 6th, where six finalists will be competing for a €10,000 prize.

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2017-09-22 21:05:48
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