Review on Humaniq by Othere Obtentus
Financial services through blockchain
There are almost 1.7 billion people in the world who do not have access to financial services currently. There are places that are even unreachable for any financial institution. Humaniq provides a solution for the people who are deprived of financial services.
Humaniq is a next generation model for financial services which is based on Blockchain technology, mobile devices and biometric identification systems. Humaniq aims to help people suffering from poverty by giving them banking tools through loans, investment, online work and cryptofinancing as well as create new opportunities in the digital economy, locally, nationally and internationally.
Humaniq is based on Ethereum Blockchain Protocol and has its own independent HMQ currency which is already listed on some exchanges. Users can authenticate with their biometrics like face or voice. So no formal documents are necessary. And the interface is so simple that any novice user can fully utilize the features.
Pros
- The interface is simple to interact with
- Biometric identification without any documentation
- With open API any project can merge with Humaniq system
- Zero fee money transfers
- A humanitarian project to help lives
- Provides financial services to unbanked
Cons
- Lacks substantial utility of the HMQ token
- Not available in many countries
- Still needs much time to reach the actual needy
- Its large community is not much active
