But what is novel about Humaniq? What makes it unique? The answer: biometrics.
A big part of the problem for the banking industry and the underbanked are international regulations which require people to be “extremely vetted.” Especially in regions where extremist terrorism is common, banks are wary that anyone might be proxy banking for a terrorist group. They therefore often require more documents than a given citizen can provide, compounding the trouble for these people. Humaniq has no need of such lengthy sign-up processes because it intends to utilize biometrics to secure accounts. Using facial recognition and voice recognition, user funds can be secured against warlords and corrupt government thugs. To be repetitive, Humaniq also enables people in these situations to participate in the global economy, which subsequently creates market opportunities for other start-ups.
Given that the technology is already in development, the concept is already tried and true, Humaniq is probably a good investment opportunity. On a scale of 1-10, this author will give it a 6.5 in terms of safety. Potential risks include local market penetration proving difficult, governmental interference (it’s trivial for governments to ban a mobile application in their region), or adoption being slow enough that it never really takes off.