Bitcoin Forum

New cryptocurrency that is integrated with a biorecognition system, electronic banking system, the blockchain and the possibility of a small paid services, will be presented April 6 by the company Humaniq.

The company thus expects to launch bitcoin and Bank for the poor, the audience is 2 billion people. Moreover, emphasis will be placed on the residents of India.
In the future, the project Humaniq should give you an idea and predictions for the future of blockchain technology in the global financial industry.
The idea of the company is to integrate the already existing practices of digital financial technology and social experiments. The project will be to issue a cryptocurrency HMQ.
Transactions are not anonymous, access system will be provided with biorecognition user's facial geometry, and perspective and voice.
Users will be provided a start-up loan 500 HMQ and low-paid work in the framework of the entire concept. Users can earn $30-60 a month for the checking account of the operation of the site or Refine the geolocation.
The company's mission is Humaniq put providing fundamentally new services to the audience of 2 billion people, to work with bitcoin, the system will not.
Later in Humaniq are going to convert the cryptocurrency into the national.

Humaniq is not new launch, humaniq launch in december 2016
but in early ico selling april 6, so humaniq coin base from india, and first launch ico selling in india too

humaniq actually very good, has a concept to serve and organize those who are far will the banking sector, and facilitate transactions or transfers with cryptoccurency. the question is the price and the balance USD in this ico, what if there humaniq token ownership in some people? , I think humaniq still in monopoly, when the use of humaniq more, then the price of altcoin humaniq will exceed the price ico, and that's when the reverse humaniq backfire for dev, if only humaniq not enter the exchange as poloniex, kraken and humaniq have the exchange itself then humaniq would be a good means of payment from the people of the city to people who have not touched the world of banking.

Yeah it is a well developed coin and has a good intentions in the community.First day of ico of humaniq is pretty succesful too.i think this coin have future

it sounds cool but it is an altcoin and the worst part is that it is a centralized altcoin and when you make an altcoin in competition with bitcoin you simply lose the battle in the market. and when it is restricted whithin one country only then the problem becomes worse.

i am interested to see how things go for it in the future though.

Well going to their website (https://humaniq.co/) they are really offering a different way or rather a solution for the 2 Billion "Unbanked" people. They want to offer an Altcoin that can be a source of their identification and at the same time become a currency that can be a mean of earning and paying some expense. They are saying it will be a solution for people who are unemployed and uneducated to get a proper work to provide them some sort of Financial Freedom but I wonder if this centralized Altcoin would be a successful currency to target the 2 Billion People.

Also looking at their Prototye Wallet they offer a unique security in which a facial recognition is only needed to access your wallet (no password typing needed) but I have some doubts that it can be tricked. Also they offer a way to pay out or have Insurance right at your own finger tips via your Humaniq Wallet. Hopefully things will play out for this kind of Cryptocurrency. 

The crypto-community in India is still minuscule, and the government recognition is very hard to come by. The red tape is still there, and it is very difficult to get licenses for crypto-currency exchanges and other businesses. I am quite pessimistic about this new venture.

2 billion people is no joke, and if the infrastructure isn't prepared for such a plan, it might blow up in their own faces. Many people have lived and died without any formal banking experience and I think that is going to continue for the foreseeable future, given the sometimes slow progress brought about by limitations in technological advancements. It is also hard to teach old people from far-flung areas new stuff like cryptocurrency when they are not even too familiar with other basic techie stuff.

Coin that will be used by around two billions people is not going to be a common crypto currencies and blockchain technology. This technology is going to attract many poor people and i do believe that is what will make them to change the  indian government concerning their decisions of not legalized bitcoin.

Where can I find this coin? Is it listed on any exchange yet? India is a big country, with this coin can have a lot of followers, I would like yo get more involved in this story.
Do anyone knows who is standing behind this coin, where can we buy it and how to inform more about this. I didn't notice here in forum any talking about this coin, I don't know how I missed it.

Any new coins are appearing all the time, there are around 750 of them currently at the market. All of them are designed to make success but very few make it.
India is big courtney and very large potential market for cryptocurrencies but there are some governmental issues who could prevent that. Great potential but we'll see how it's going to end.

If it distinguishes itself properly from Bitcoin in ways which aren't entirely stupid, it isn't a shitcoin and therefore it will not completely fail in the market, like Litecoin and ETH.

If it's an actual cryptocurrency though it might have other downfalls though - India is very hostile to Bitcoin in particular and potentially would be to any altcoin based around similar concepts.  However, perhaps this currency would be viewed differently due to its attempts to integrate the blockchain into a more ID-based system relating to proof of ownership.

HMQ or Humaniq is a great concept. If we are going to make bitcoin as an international currency then we need all countries to make their own national cryptocurrency. Just like we have a local fiat currency and there is the US dollar as the international currency we are going to follow that pattern but we are going to modify it by replacing US dollars by bitcoin and local currencies with local cryptocurrencies.

When we say 2 billion targetted customers, it sounds too good. But actually it isn't. India is still a country where people are financial conservatives. They are happy to get 7% FD return despite of going for equity or mutual funds investment. And in this scenario, targeting them for cryptocurrency is complete absurd!
Go on Indian street and try cryptocurrency survey, 98 of 100 would answer they never ever listen the word "Bitcoin"
Rest, everything starts somewhere, my good luck to Humaniq.

Wrong timing! India is still debating whether Bitcoin is legal or not.
The founders should have adopted a wait and watch approach.

i'm assuming that the value of this coin is given by the government, like their legal currency? how a currency like that is going to help the poorer?


if they plan to do their own currency it's likely that bitcoin will be made illegal to avoid competition, now i understand why some countries want to ban bitcoin, just to make their own altcoin, which make sense imho, too bad this approach is very centralized, and is different than what we have here in crypto.

Awful idea, which stands totally against concept of decentralized cryptocurrencies. They should rather rename this 'coin' to CIACOIN or SPYCOIN.
Not anonymous transactions and just to use this coin I need to to share not only my ID but my face, my voice and maybe other biodata.
You sure they don't need people's DNA too?

1.5 billion people possess no identification documents, so how is face identification going to solve that? It just gives hacker a extra vector to

attack centralized databases where this information is stored. It does address the "barrier" when people are illiterate, so kudos for that.

You know this is based on Ethereum..... right? --->  https://cointelegraph.com/news/ethereum-based-humaniq-to-deliver-banking-40-to-2-bln-unbanked

While the concept of this new crypto currency looks promising, at the same time, I am not optimistic about Indian license to run this business properly. IT may happen that the enforcement agency will intervene and close down the business because the government won’t allow unsolicited fund to be passed to its citizens.

Also the kind of bureaucratic licensing structure we have in INDIA, they will take ages to understand the concept of crypto currency and the business around it. It should have been started in a different country than INDIA. The current government is busy experimenting with cow dung. 

There are some politicians in India who are not yet convinced that we are already in the era of cryptocurrency and they are not forward-looking compared to other countries like Japan and even USA. Having an altcoin launched in India maybe can help in convincing them otherwise.

Anyway, I have seen posts on Humaniq here and yes I think the concept is really good but implementing its goals can take some time and some gargantuan efforts. Had I got some funds I could have bought a little of its ICO.

Good-luck to people behind Humaniq...may it soon enter the top 20 altcoins.

thanks for the explanation and summary.
but i can't really understand how can a "currency" help the unemployed get work! it is like saying "we print US Dollar Bills to give those who are unemployed a job"!
altcoin is a currency and apart from mining there is no more job created by its existence. just like any other currency you are supposed to already have a job or skill to get paid for it either through regular fiat or a cryptocurrency.

Digital penetration is quite low in India, but the things are changing rapidly under the new government. 250 million new bank accounts were opened during the last year, for mostly rural population. Online payment gateways are getting more and more popular.

I already know about this altcoin since the last of the 2016 , I mean it is not a new coin but I am not sure whether it got launched or will launch .
In 2016 this altcoin was offering to Invest through the ICO .
Well here a big thing here that if still it is not launched than it will take some more time for this altcoin to launch Because the government in India is steal waiting for the declare whether to accept bitcoin or not as legal or not .
Here most of the big exchange sites founders are in conversation with the Indian government , hope everything goes ok and such types of new new altcoins launch .

I understand the intention to help the unbanked but how exactly would this really benefit the poor? Are they offering other services? Coz for me, the benefit I mostly see is that the poor would be able to store their money in their wallets, and maybe also benefit from some price increase for the alt when they hold. People would still need money to be able to buy this coin though, unless they're giving away some for free or allow them to be mined just like any other alt.

I suppose this would do better than bitcoin with regards to gov't approval. Probably liked it because it's centralized. Maybe that would also make it easier to go after scammers?

That looks something a unique plan to one among the highly populated nation. In reality achieving the plans that been scheduled seems to be a bit hard task. Over the Asian nation India is quite promising in technology development but not that extent to go completely digital.

Wow, nice to hear a new cryptocurrency has launched in India.I saw its ad in some sites. But didnt know its from India. Its nice to hear the mission of this new project and I like it. I will buy and keep some when it comes to exchanges. Do you guys remember, last year another coin was released giving so much promises and finally became a joke.  I think its name is asiadigicoin.  But this coin seems to be geniune, build for a good cause.