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Interview with Hazem Danny Al Nakib, Executive Advisor at Humaniq




1. Can you provide an overview of the Humaniq project?

Humaniq is a platform aimed around financial inclusion which provides an array of social oriented services ranging from a blockchain-based wallet to messenger and group-chat functionalities. The application and the continuous rollout of functionalities are particularly targeting those who do not have bank accounts and have either been rejected from opening them or choose for other reasons not to have one. Humaniq leverages biometric technology in its mobile application which creates a digital ID for users. Our application and platform are built on a unique hybrid blockchain system which enables users to enjoy near free transfers to send and receive HMQ between the locations within which we are operating, which is currently 21 countries. Humaniq also provides security communication through our secure messenger with P2P encryption for file- sharing and transfers.

First and foremost, Humaniq’s aim is to bring those without banking the opportunity to have options and choice to better be able to make certain decisions for themselves where and where aspects of their lives are at least slightly ameliorated. This support that we are providing in the form of digital transformation and financial alternatives ranges from diversifying an individual or household’s income, building businesses, connectivity to other markets, or access to education. Recently, a new functionality within the application was introduced – Humaniq Stories which provides unique educational and informative content, and which can be processed in areas of low internet speed. The Humaniq team is also working on a fiat-to-HMQ solution which will help solve the cash-in cash-out issue. We are planning on launching a pilot of this in Uganda soon.

We are also planning to reach1 million app users by 2020 and are already approaching 400,000 downloads and hope to continue working as a team with our local stakeholders and contributing beneficially to the lives of many through providing additional choice, access, and opportunity.

2. What sets Humaniq apart from other “charity” cryptocurrencies?

 Humaniq is focused on leveraging emerging technologies and applying them to existing processes and problems that were either previously not possible or too costly. Our differentiating factors revolve heavily around how we are able to mobilize various stakeholders in support of financial inclusion, the speed with which we operate and roll out, but also the level of local buy-in we have achieved and continue to achieve based on the receptivity and involvement of many communities we operate in.

3. Which countries does Humaniq already have a presence in? What specifically do individuals have access to?

Currently the Humaniq application is offered in 21 African countries – Tanzania, Senegal, Zimbabwe, Rwanda, Kenya, Botswana, Ghana, Uganda, Cote d’Ivoire, South Africa, Zambia, Cameroon, Burkina Faso, Guinea, DRC, Sierra Leone, Burundi, Sudan, Liberia, Equatorial Guinea, Republic of the Congo. Users in these locations benefit from the application’s current features which include a secure messenger with end-to-end encryption, bio-identification, live support chat, and a blockchain based wallet on a Hybrid Blockchain which allows Humaniq users to make small transfers with near-zero fees.

4. One of the key goals of Humaniq is to provide banking services to the unbanked. Can individuals who use traditional banking services use Humaniq?

We are not providing banking services per se, what we are in fact doing is providing an option to those who are unable to engage with traditional banking services. And in terms of who can use our application and its various functionalities, anyone in the 21 jurisdictions we currently cover and are operating in can access our mobile application.

5. How does Humaniq work for those who do not have access to mobile devices?

At present, only those with an Android device, including low-cost devices and an internet connection can use the Humaniq application within the 21 jurisdictions. However, those are two significant problems that we, along with many other organizations are looking to solve. We will find ourselves partnering with more organizations that are focused around solving those two issues so that we are able to cross-pollinate with them, share best practices and collaborate on initiatives. We are also exploring ways we may be able to venture into those two spaces and package such operating lines so that they are strategically beneficial to our users and to the organization, that they reflect the reality of individuals in the countries within which we operate, and provide real value given how it is structured as it will require the right partners and resource allocation. Time will tell if it is a good decision to begin providing phones for example which we have explored but it has not yet made sense until we have reached much more adoption.

6. Why the Humaniq Global Challenge? What do you expect to achieve through it?

Those companies, individuals, and startups that are driven by ameliorating the challenge of two-thirds of Africans not having access to banking services begin by acknowledging the need to draw on the needs and experiences of communities in Africa themselves and the differences between each and every community. It is not enough for entrepreneurs to generate business or social ideas from afar. Proposed new solutions can be perfect on paper, but only those founded on listening to the real needs of individuals in their target market on the ground will succeed. It is for this reason that Humaniq runs a ‘global challenge’ to facilitate the development of new financial inclusion solutions, which invites social entrepreneurs to submit proposals for blockchain-based solutions. The challenge involves selected developer teams meeting with local communities and other stakeholders who stand to benefit from new services in Kenya as well as to test and adapt their approach, business plans, and solutions.

Three projects were selected for the first Humaniq Challenge, which attracted a total of 450 entries, included a blockchain-based land registry project, a micro-loans system, and a remote-workplace application. The challenge winners went on a trip to Kenya as part of their efforts to build on the rapid take-up of mobile money across Kenya. The idea was to develop applications that make use of smartphones which are increasingly available in certain locations, leverage emerging technologies adequately and within a systems framework that is user-friendly, but that are also tangible in their application in how they would be beneficial and which problems they will be solving, specifically and tangibly.

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your thorough research before investing in any cryptocurrency and read our full disclaimer.

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property loans for foreigners in Singapore

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In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  


As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

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