Development of Unbanked Regions: Business Games and the Prospects of 2 Billion People

Advertisement

Humaniq, the blockchain-based financial services startup that wants to reach out to over two billion people who do not have access to traditional financial institutions and modern financial services, has already started to connect with its audience.

The startup’s founder, Alex Fork, recently visited India to meet Humaniq’s development partners as well as his target audience. The entrepreneur, with the help of a translator and a local guide, challenged a group of men to a game, not only to see how they would react to Humaniq, but to witness how social networking can influence communities.

The game’s goal was to gather the largest possible number of tokens (HMQ). In order to do so, each participant needed to recruit friends, family, and neighbors, each of whom qualified them for more tokens. Every time someone was recruited, 100 HMQ was credited to them.  In order to win, participants had to leverage their social connections in the community. The competition was fierce, yet friendly, and even though it wasn’t clear whether some offered part of the prize money to new recruits, there were some very energetic negotiations happening.

The game lasted for 30 minutes and, at the end, the top three players were given real money rewards. The winner got a $10 prize, a purposefully small amount that kept unmotivated participants away, and that didn’t draw too much unwanted attention.

 Humaniq’s Mission

The game was simple but showed that Humaniq’s mission to include everyone in the global economy is feasible. By performing small tasks for other users, those involved can earn HMQ and then have access to modern financial services such as business loans and data security. In order to cash out, all they need to do is locate mobile cashiers who will convert their tokens into fiat currency.

The community’s power was well demonstrated in the game. The power of the collective can allow Humaniq to empower these people and grant them access to the global economy, in which they will prosper. Even though some might not immediately have access to Android phones, the tokens others will earn will give them a chance to buy additional phones for friends and relatives.

Ultimately, giving people in emerging economies access to modern financial services is going to significantly improve their living standards and allow a plethora of new ideas to emerge.

Regarding the knowledge acquired during his trip to India, Alex Fork said:

“These people may lack formal education, but they’re not stupid or lacking hope. They have amazing energy and they’re very clever and inquisitive. Life hasn’t dealt them the best hand, but they’re eager to take advantage of opportunities presented to them. I’m confident that Humaniq is going to be a great empowerment tool for them.”

Humaniq’s Initial Coin Offering (ICO) is currently underway and will end on the 26th of April. In it, it is possible to buy HMQ with bitcoin and ethereum. Early adopters can get a bonus that ranges from 49.9 to 12.5 percent. At the time of press, the startup’s ICO had already broken the $3 million line.

This is a sponsored post.

Image from Humaniq.

Follow us on Telegram or subscribe to our newsletter here.

Join CCN's crypto community for $9.99 per month, click here.
Want exclusive analysis and crypto insights from Hacked.com? Click here.
Open Positions at CCN: Full Time and Part Time Journalists Wanted.

Advertisement

POSTED IN: News, Sponsored Stories
Francisco is a cryptocurrency writer who's in love with technology and focuses on helping people see the value digital currencies have. Twitter: https://twitter.com/FranciscoMemor