Token: HMQ

Decentralized Banking

ICO dates
Start date: 2017-04-06
End date: 2017-04-27

Registrated in: UK

Platform: Ethereum

PREMIUM ICO Screenshot
Humaniq categories
Platform Business services Banking
Humaniq token sale
KYC passing required No | Whitelist No | Restriction for countries No
Price 0.06 USD
Acceppting BTC, ETH
Humaniq news, social
Humaniq search trends in Google
Random whitepaper excerpts

Humaniq Whitepaper
Banking for Unbanked
1 Mission
2 What makes Humaniq special?
3 Vision
4 Emission Model
5 The ICO
5.1 The key holders . . . . . . . . . . . . . . . . . . . . . . . . . . 13
6 The Pre-ICO (survey)
7 Our development process
8 The timeline of Humaniq
9 Technical
9.1 Issues and responses to them . . . . . . . . . . . . . . . . . . 20
9.2 BioID: technology . . . . . . . . . . . . . . . . . . . . . . . . . 21
9.3 BioID: user experience . . . . . . . . . . . . . . . . . . . . . . 21
9.4 Mobile Wallet . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
9.5 Contracts on Ethereum blockchain . . . . . . . . . . . . . . . 22
9.6 Sending a transaction with Mobile Wallet . . . . . . . . . . . 22
9.7 Sending transactions without Mobile Wallet . . . . . . . . . . 22
9.8 Coins are integer . . . . . . . . . . . . . . . . . . . . . . . . . 22

Humaniq Whitepaper
1 Mission
Look at this map:
Banking for Unbanked
“A small body of determined spirits
fired by an unquenchable faith in their mission
can alter the course of history.”
Mahatma Gandhi
Figure 1: indeed, where they are?..
You may notice: there are
regions on Earth. As a matter of
fact, nearly 2.5 billion people live in regions where no banking infrastructure
exist. The only form of payment available in those regions is manually giving
banknotes (and/or coins) to a counterparty.
What makes it worse, even in banked regions, there are millions of people
without passports or any other forms of identity or documentation, thus
they are cut off from modern banking facilities.
According to a recent World
Bank estimate,
the total number of people who did not have identification
documents amounted to 1.5 billion by 2016.
We at Humaniq, will provide a new financial infrastructure for everyone
who h...

Humaniq Whitepaper
Banking for Unbanked
Figure 2: 2.5
are unbanked
To put it in simple words, Humaniq is
banking for the unbanked
Our ultimate goals are:
to integrate 2.5 billion people disconnected from the international busi-
ness community, and empower them to free themselves from the chains
of poverty,
to shift emerging economies into the cryptoeconomy.
2 What makes Humaniq special?
“The biggest room in the world is the room
for improvement.”
Helmut Schmidt
It is natural to ask why the problem of banking for the unbanked cannot
be solved by Bitcoin or any other cryptocurrency. And the questions can also
be asked: «What makes Humaniq special?», «Are you just another startup
offering yet another mobile wallet app?»
Page 4

Humaniq Whitepaper
Banking for Unbanked
At first glance, it looks like any Bitcoin mobile wallet could be used in
unbanked regions. But if you think deeper about this, you will discover the
following issues:

The problem:
the number of satoshis in circulation (or any other
small units of crypto) is insufficient for some regions. E.g., in Indonesia
(250 million people),
there’s just not enough digital currency
to have
substantial daily turnover (volume). Bitcoin is scarce, and if you don’t
have bitcoins, you are inclined not so to be interested in the network.
For regions poorly integrated into the international financial system,
it would take a lot of time for sufficient liquidity to appear in the
local market. But there’s no doubt that such regions have their own
domestic economy
. It’s just they are almost exclusively cash-

Our solution:
unlike other cryptocurrencies, Humaniq provides an ...

Humaniq Whitepaper
Banking for Unbanked

The problem:
some states are concerned with pseudo-anonymity of
cryptocurrencies, which causes recurring legal issues associated with

Our solution:
since app users have to pass bio-identification, there
is no anonymity in Humaniq. That is good news for transparency
advocates, and that makes Humaniq unviable for financing terrorism,
trading drugs and all the other deadly sins Bitcoin is accused of. An-
other point is, Humaniq provides the ability to earn while working from
countries abroad. This enables an export-driven economy in depressed
regions, improves living standards of depressed regions, and reduces
the impetus for migration, which is great for all governments both in
developed and in developing countries.

The problem:
the network effect of Bitcoin (and other cryptocurren-
cies) is relatively small because of relative usage complexity. According
the r...

Humaniq Whitepaper
Banking for Unbanked
methods it increases the likelihood of a near hundred-percent authen-
Our approach is to use one random authentication method
each time. Every authentication takes no more than two seconds and
is as easy as unlocking a smartphone.

The problem:
the lack of crypto evangelists in undeveloped regions,
which contributes to people’s unawareness of innovative payment sys-

Our solution:
the reasons why people don’t promote cryptocurren-
cies in undeveloped regions are understandable: technical complexity
of the subject, language difficulties, no financial incentive etc. But
we’ve targeted our project directly at such regions. Working on the
problem, we have studied nearly everything about the current state of
developing countries. We talked to

100 prominent bitcoiners who live
in developing countries such as Sierra Leone, Afghanistan, Botswana,

Humaniq Whitepaper
Banking for Unbanked
Briefly, bio-identification is obligatory to create a wallet;
every user is
given coins for passing bio-identification
; the process consists of taking series
of photos, recording videos of the user making facial gestures, and recording
the user’s speech. For details, move to subsection 9.3.
To prevent theft of coins, every time a user signs in into the app, he or
she must pass the authentication procedure. The authentication is similar
to bio-identification, but much shorter: the user has to repeat just one of
the recorded gestures in the front of the camera. It is as easy as unlocking a
The software we have developed works with the cheapest hardware solu-
tions on Android 5.0: with smartphones that cost $10-$15. Such affordable
devices are usually fitted with a front-facing camera and microphone, and
thus are sufficient to install a mobile wallet and to authenticate the user.
After passing the bio-iden...

Humaniq Whitepaper
Banking for Unbanked
We feel honored to repeat it once more: Humaniq provides an
emission mechanism.
The amount of coins that one person can mint
is limited
, and that is what makes Humaniq so special.
This mechanism has nothing to do with competing in specialized hard-
ware, having access to specialized hardware, wasting electricity, or owning
the coins preliminarily. It may be called
, as we’ve mentioned,
and there’s nothing more fair than that.
In this section, we are about to present the details of the emission model
we chose. Developing it, we pursued the following objectives:
1) The early adopters should receive more money than the later ones.
2) The total amount of coins that will ever be issued must be five times
bigger than the amount of coins issued via Pre-ICO + ICO.
3) Emission proceeds until
people are registered.
should be

Humaniq Roadmap

April 2016
Inception of the Humaniq idea by Alex Fork.
November 2016
Humaniq Whitebook is written and the original project team is formed.
December 2016 website is launched and pre-ICO is announced
February 2017
Smart contracts are being developed, due diligence and marketing campaign take place. Humaniq team meets with project partners in India. Alex Fork conducts the first performance tests of the project in unbanked regions of India. Humaniq announces first online hackathon Pre-ICO (crowdsale) is launched
March 2017
Alpha version of the app is available for testing on IOS and Android.
April 2017
Humaniq collects $1.5 mln in the first hour of their ICO.
May 2017
App with new enchanced biometrics is being released.
Humaniq is 43 people now, working from 14 countries.
Alex Fork
Alex Fork Head of Humaniq

Dinis Guarda
Dinis Guarda CEO and Co-Founder of Humaniq

Dmitry Kaminskiy
Dmitry Kaminskiy Executive Chairman and Co-Founder

Anton Mozgovoy
Anton Mozgovoy Product Manager

Kherel Kechil
Kherel Kechil Lead Frontend Developer

Dickson Nsofor
Dickson Nsofor Head of Global Institution

Peyman Irani
Peyman Irani SMM, CSS

Rayane Hochine
Rayane Hochine SMM, PR, CSS, Operations

Segrey Blinov
Segrey Blinov SMM, CSS

Danny Kass
Danny Kass SMM, CSS

Andriy Schechenko
Andriy Schechenko Forum Administrator

Lee Baker
Lee Baker Writer

Olga Derbio
Olga Derbio Graphic Designer

Dickson Nsofor
Dickson Nsofor
Head of Global Institution
CEO & Co-Founder
Derin Cag
Derin Cag
Zeeshan Mallick
Zeeshan Mallick
Chief Marketing Officer
Marketing Advisor (Europe)
Dinis Guarda
Dinis Guarda
CEO and Co-Founder of Humaniq
Alex Fork
Alex Fork
Head of Humaniq