Blockchain technology startup Humaniq and global auditing firm Deloitte join forces.
Humaniq is on a mission to provide financial inclusion products and services powered by blockchain technology to the 2 billion unbanked people across the globe. Their first three operational priorities are Africa, South/Central America, and some parts of Asia. And then they will expand to the rest of the world.
Conscious of the challenges ahead when it comes to IP, legal and operational structure Humaniq is preparing for its next challenges. The organisation has recently conducting pilot tech projects in India and is starting in Africa in the next few months, while managing its ICO that raised so far over $3.8M.
Deloitte is a global powerhouse in auditing, legal, IP and a driver in blockchain identity technology, making it the right auditing and innovation firm to manage Humaniq’s structure and operational efforts in multiple countries and locations.
Humaniq aims to repurpose science and technology for the good of the world. The beta version of their fintech application was recently launched in Google Play for Android phones and simply requires a new user to register using their biometric identity by snapping a photo through a face-recognition algorithm.
The Humaniq application uses minimum language as it wants to be based on a simple user-interface and symbols, highlighting its international focus through the use of emoticons. This makes it simple to use even for the most illiterate people in the world. Humaniq will bring a great number of unbanked people into the world economy, enabling financial inclusion.
One example of the Humaniq app’s benefits is a case-study of a Nigerian farmer who lives ninety miles away from the closest bank. Furthermore, he does not have a vehicle or any ID verification to access or open a new bank account. Humaniq enables this farmer to sell his corns or peppers and buy new seeds on an international scale, as long as he has a simple smartphone and basic access to the internet. And all of this happens for a fraction of the fee when compared with traditional banks or money-transfer companies.
In a recent HBR report, Professor Michael Mainelli wrote;
“2.4 billion poor people worldwide, about 1.5 billion of whom are over the age of 14, can‘t answer that question to the satisfaction of authorities. While they certainly know who they are, they are often excluded from property ownership, free movement, and social protection simply because they can‘t prove their identity. They are more exposed to corruption and crime, including people trafficking and slavery.“
In addition to enabling financial inclusion, Humaniq also aims to provide biometric identity to tackle serious issues such as human trafficking and modern slavery.
So far Humaniq has raised just under $4m in its pre-seed Initial Coin Offering (ICO), which ends on 27th April 2017. While announcing a strategic partnership with global auditing firm Deloitte, Humaniq wants to highlight their intellectual property and legal efforts with a powerful global company.
In addition to the aforementioned, Deloitte will also provide industry-leading audit, consulting, tax, and advisory support to Humaniq. Many of the world’s most admired brands including eighty-percent of the Fortune 500 work closely with Deloitte.
Co-founded by blockchain technology visionaire Alex Fork and AI expert Dmitry Kaminskiy, Humaniq is breaking international crowdfunding records with a total value of $3,949,131 and 9,189 participants at the time of writing. Steering the wheel as CEO of this powerful new organisation is successful blockchain/fintech author and entrepreneur Dinis Guarda.
In addition to the board of directors previously mentioned, Humaniq also has a world-class advisory board consisting of over twenty global thought-leaders. This includes people and alumni from organisations such as The Financial Times, The United Nations, Greenpeace, Right Relevance, University of Toronto, Cambridge University, and Save the Children to name just a few.
Through this new partnership, Humaniq and Deloitte ultimately want to help establish sustainable and structured operations to enable more financial inclusion, justice and strong institutions on a global scale.