The Good And Bad Sides Of Humaniq (HMQ)
Humaniq (HMQ) is attempting to offer a self-deploying financial system to help those who cannot have access to banks.
The number of people who have joined the platform has increased because of the good that it has been designed to do with its state of the art approach to the blockchain. This is a mobile bank with plenty of knowledge to back up its development, network and other facilities.
The platform is working to ensure that the billions of people, especially in developing countries without bank accessibility, can buy things without the bank.
Humaniq coin is using the crowdsourcing strategy to raise money in form of ICO (initial coin offering). The public is requested to give Ethereum or Bitcoin to this project and in return, they are offered HMQ.
Pros of Humaniq (HMQ)
You may be wondering why HMQ has become the talk around the market these days. The following are some of the benefits of the platform.
The simplicity of Creating Account
There are protocols involved when it comes to creating a bank account. The customer is expected to show official documentation and passports, which may not be available to some customers. Humaniq has made opening bank accounts easier with biometric ID.
The ability of customers to know where the currency is heading and coming from is what makes the platform absolute transparent. The blockchain technology that HMQ is using is amazing and clear to understand.
Free Currency Transfer
You can transfer money instantly from any part of the world without delay or fees.
Cons of Humaniq (HMQ)
There are problems that Humaniq is still battling to solve;
Vulnerable to Hacks
The technology of HMQ may be stunning but it has a huge problem in achieving its biometric ID. The HMQ app makes use of the Photo ID that is rare and very common to hack. It is easy to get hold of the user’s photo and impersonate the person.
The solution may be to use facial movement and voice to ensure that security is beefed but this type of technology is yet to be built successfully.
Potential in 2018
Humaniq has done well since the beginning of 2018. It has traded up 24.9% against the dollar on January 28th. The successful outcomes in its trading against dollars have been on for weeks as one HMQ can be purchased for $0.40 or 0.00003511 BTC on YoBit ,Bittrex, EtherDelta and Liqui. There is more than the coin can achieve as it works to bridge its disadvantage with better technology.
In our world of cryptocurrencies and blockchain technologies that are ever expanding, it is expected that Humaniq works with security on its platform. Based on the sponsors and whitepaper, the aims of the platform is worthy of support and seem very feasible.
The platform is always taking a consideration at the Metcalfe’s law, which states that “a network’s value is proportional to the square of the total users.” What this means is that as more customers join Humani (HMQ), and get financial institution access, the better it will be for the financial market.