Ghana Trial of HMQ App Gets Underway in Earnest

The real-world trial of Humaniq’s blockchain-backed mobile banking platform is getting underway in earnest.

Ghana Trial of HMQ App Gets Underway in EarnestMoving beyond an initial pilot of a ‘Lite’ version of its app meant to test Humaniq’s HMQ cryptocurrency, Humaniq is collaborating with Ghana’s Local Women Entrepreneurs network and a civic development organization called Reach-Out Integrated to onboard 2,000 users, who are biometrically enrolled in the platform via two selfie photos and an SMS confirmation. From there, the users are able to perform transactions using the HMQ cryptocurrency, even with non-users, who are flagged by the app, prompting the registered user to invite them to join the platform. If they do, the user who sent the invitation receives an incentive reward.

The aim of the pilot is to ultimately get 10,000 participating users who can provide Humaniq with feedback as the company prepares to officially launch its Humaniq Marketplace API. In a statement announcing the pilot, Humaniq said it “effectively scales the long-standing tradition in many African communities of ad-hoc financiers lending to small- and medium-sized entrepreneurs.”

The effort comes as Humaniq expands into fintech financing with its leadership of a funding round for Securrency, a startup aiming to automate regulatory compliance for investors backing emerging technologies. That could in turn lead to more investment into HMQ, especially if Humaniq’s Ghana pilot proves a success.