Humaniq begins testing its biometric-based, blockchain-powered app in Ghana
Humaniq has launched its app in Accra, the capital of Ghana, with a drive to allow those on low-incomes to take part in the 21st Century economy.
A blockchain-powered, biometric technology-based app gives Ghanaians a new tool to gain verified online identities and advance economically as a pilot gets underway in the capital of Accra.
Ghana is a fast growing African country with a University-level enrolment that is double that of sub-Saharan African average at over 16% and literacy levels are high. Despite having only 29 million people, it has sub-Saharan Africa’s third largest stock exchange and growth, at more than six per cent last year, outpaces that of the region as a whole. And, yet, a lot of this tremendous potential is not being fulfilled and not everybody is able to benefit from these improvements in the nation’s economy.
One eighth of the country’s population has no work, and more than two-thirds of the poorest households have no access to a bank account — and so cannot apply for credit, progress and improve their lives. Ghana’s average age is 30; the country’s young and educated have too many barriers in their way to entrepreneurship as an alternative to chasing the insufficient numbers of jobs. They are not able to share in the proceeds of the country’s $43bn USD GDP.
This is why Humaniq, from this month, will be piloting its app in Ghana, to put a tool for economic empowerment into the hands of young, smartphone-using, urban dwellers. Humaniq’s Chief Business Development Officer, Dickson Nsofor, will launch the pilot by engaging these Ghanaians in the country’s top universities in the capital of Accra. He will demonstrate how they can from this month register on the app and immediately start building up a transaction history and reputation for credit — the equivalent of $1USD for referring each new active user. Crucially, Dickson will also highlight how the forthcoming Humaniq Marketplace API will give them the opportunity to fully participate in a growing economy.
Unlike with any other banking service, the matching geo-service will allow these Ghanaians to connect with each other, promote their services and ideas, seek finance and partners. It is a platform for a new, peer-to-peer economy, a blockchain-based, decentralised app where people are not in the hands of institutions and intermediaries. It effectively scales the long-standing tradition in many African communities of ad-hoc financiers lending to small- and medium-sized entrepreneurs. It allows such local investors in people’s futures to extend their reach — and means people spending less time travelling large distances simply to make transactions with their peers.
For the pilot, Humaniq will establish a country lead, and operations and marketing teams so that engagement around the app and the possibilities they offer is community-led. Humaniq has set its sights on 50,000 downloads of the app in Ghana by the end of the year — ambitious, but only a fraction of the more than 200,000 Ghanaians studying in the country’s tertiary institutions. As further services are launched on the app through the work of the Humaniq Accelerator, including micro-insurance, nutrition, and medicine, the benefits for those downloading the app and joining the Humaniq global community will multiply and grow. The potential prize is enormous.
Humaniq’s ultimate aim, as services are newly offered to all those currently shut out of the 21st Century economy, is to help lift two million people out of extreme poverty. With a young, educated population, Ghanaians are ready: they simply need a tool to unleash their full potential.