Humaniq launches financial inclusion app with biometric authentication

Humaniq has launched its Blockchain-powered financial inclusion app.

According to a company statement, the app will enable the world’s 2 billion-plus unbanked people the opportunity to start making payments using biometric technology and UI crypto wallet.

The Humaniq ‘LITE’ version of the app will be available for Android on July 31 and will be the focus of a pilot program that will soon be launched in Ghana, West Africa.

For the first time, HMQ tokens (Humaniq coin) will become available to people downloading the app when they register using its IP biometric identification.

The application interface features minimal text, biometric authentication and a visual language, with all non-critical settings removed.

The Humaniq will also be available in a ‘PRO’ version in iOS and Android, later this year, with a full range of features for a wider audience.

The LITE application is based on four main sections, including biometric identification, chat system, contacts (referral) system, and wallet system.

The app allows a user to send funds and to request funds in different ways, such as by selecting a user from the contact book, by scanning a QR code, or by entering a phone number. In the latter case, even if the user doesn’t use Humaniq, he or she will receive a text message with the weblink where they can collect the payment in HMQ

The app also allows users to change the phone number (with phone validation), profile pictures (which must be validated), and passcodes.

The Humaniq app is designed to be widely accessible, including people who cannot read and write.

“We want to tear down barriers to making simple financial transactions for people who have not been offered services by traditional financial players,” Dinis Guarda, CEO of Humaniq, said. “With this in mind, the Humaniq lite app offers almost zero-cost transaction financial inclusion solutions. It is easy to use: you simply need a smartphone number of the person you are sending money to.”

To coincide with the app’s release, Humaniq is launching a new website that will contain information about the company and its product rollout, documentation on how to use the app to its full potential, and will allow users to access all this offline once it is downloaded.

The first pilot program will begin in Ghana, specifically targeting women entrepreneurs, universities and workers in major low-income areas in the metropolitan capital of Accra.

Additionally, Humaniq is developing a complete decentralized financial inclusion crypto economics service, as well as a technology ecosystem and incubator that will strengthen its app product roll out.

The app offers an open source API that will be available for startups to provide services to the large, untapped market of the unbanked.

Humaniq plans to provide the full-range of financial services via its partners in 2018, including micro-credit, business finance, insurance, an in-app marketplace for buying and selling.

Earlier this year, Humaniq conducted a live demonstration of its Ethereum-based blockchain banking app at CoinDesk’s Consensus 2017.

Article Topics

authentication  |  biometrics  |  blockchain  |  financial inclusion  |  financial services  |  Humaniq  |  mobile app