We’re building a market in Africa from scratch

[Bithub]

We take interest in areas where there is a lack of traditional banking. It is like creating a “blue ocean” of new economic activity – we are building an uncontested market in Africa from scratch. Existing payment systems and banks take no interest in the people that we work with – who cares about a guy with 5 USD in his account? – says Alex Fork, Founder of Humaniq in Bithub.pl’s #SundayInterview.

Your claim is Empowering the unbanked. How exactly do you plan to do that?

Alex Fork: There are many aspects of our everyday life that require us to have our ID to hand – be it financial services, payments for remote work, healthcare and numerous others. But millions of people around the world don’t have identification, and therefore no access to the digital economy or banking. And yet, most of the world population do have access to a mobile phone. The software we have developed works with the cheapest hardware solutions on Android 5.0 – with smartphones that cost $10-$15. Such affordable devices are usually fitted with a front-facing camera that can identify and authenticate a user, and in addition allow the installation of a mobile wallet. Having gone through a bio-identification process, everyone is invited to earn additional coins by engaging friends and making transactions. Essentially, what we do is enable everyone to earn a living just by using their mobile phones. The possibility of putting your money to use in digital transactions, accessing the next-generation financial infrastructure, and having an ID all makes one a part of the modern world economy and even allows one to own part of a business. Humaniq provides access to all of the above, which many take for granted.

Full interview on https://bithub.pl/english/sundayintervi ... m-scratch/