Humaniq AMA with CTO Anton Mozgovoy
June 15 2018
https://www.youtube.com/watch?v=HmLb36LFwXo 2:05 Start of AMA, agenda. Event explained as well.
3:35 Anton explains they categorized the many questions into three types.
1. Exchanges
2. Cash-in-cash-out
3. Technology/techonology cooperation
4:21 Exchanges. Humaniq has been working hard on getting listed on exchanges, they have applied to many. The process has changed a lot for major exchanges in terms of how new tokens are being added. It doesn’t happen immediately as it usually would anymore, they conduct thorough review processes to find out whether a token falls under the category of a utility token or a security token, the process of investigating the liquidity of the token (who uses the token, why do they use it, etc. etc.), and of course the last is the decision of the exchange itself of listing the token.
By now we all know the hmq token is considered a utility token by swiss lawyers right, there are legal documentation (? Could not hear properly due to video stuttering) that can confirm this.
Humaniq has been going through this process. They have discussed with quite a few tier-one exchanges. They are currently going through the review process, once they are admitted they will share it with the community.
Humaniq has created a team solely working on getting HMQ token listed to new exchanges. It’s been one of their main priorities for some time (getting listed on new exchanges).
6:12 New cooperations and processes. Since last AMA we heard Anton talking about the cooperation with TransBox and others. Since then, Humaniq has signed an MOU (Memorandum of Understanding) with two more companies.
6:40 Prover. We’ve heard about Humaniq’s cooperation with the company Prover, they have started a pilot project together. The team of Prover is working on the bio-identification in videos, these will be linked to the blockchain by creating a hash of the video which ensures the authenticity of the video and the legitimacy of the user actually taking the video at that time. Humaniq (Anton) emphasizes the importance of creating the digital passport, the identification piece is a very interesting product which Humaniq has put a lot of dedication and focus on creating. The cooperation has helped Humaniq in developing this concept even further.
7:20 Rivets. Humaniq has partnered with the company Rivets to further enhance the anti-fraud system, ensuring the hardware data matches the software data layer in terms of the identification on the physical device. This prevents more fraud from happening while also ensures Humaniq maintains a high quality growing user base, helping real users with actual problems of using the app.
8:17 Cash-in-cash-out. “Transferring the tokens; how does it happen, what’s going on, how can we do that?”. For the people who are using the Humaniq app, there is a bot called Nia who can assist users in the transferal process. It is not necessary to use Nia, you can just send the transaction to your exchange wallet address and the money will be delivered. With Humaniq’s hybrid blockchain model, users won’t be subjected to paying exchange fees.
YouTube
AMA with Humaniq CTO Anton Mozgovoy
[Video]
9:27 Token price; why is HMQ token still valued under a dollar for so long, why hasn’t it gone up? To explain this clearly, the general crypto market has dropped quite a bit for the past months, even recently (Sunday) it went into a major dip. Due to BTC’s dominance on the market, the price fluctuations affect others as well. In time we will see more stability as the user base of Humaniq keeps growing. Just to put it into perspective, we have more than 300.000 users of the Humaniq app, which is significant increase considering we had less than 150.000 users five weeks ago (we doubled the number of users in about 5 weeks). The end-product of Humaniq has been released on November 1st, which means we have grown a user base of more than 300.000 members in just a little over seven months. We have grown faster than we expected, in less than a year. It’s the result of an amazing synergy effect between the groups inside our team: marketing; finding the right strategy of connecting with the end-user, product; knowing the differences in nuances in the works and what happening with the product, and technical; who created the solutions to the end-users.
11:45 Availability in other countries. Currently the app is only fully available in 10 African countries. It’s still limited for the rest of the world. The reason behind this decision is due to legislation; Humaniq wants to make sure they’re fully compliant with all the regulatory rules every respective country that apply when entering the market.
However, Humaniq is also working on their Global Expansion Plan; a plan to open the wallet in as many countries as possible. It is estimated that this will happen in just a bit more than five-to-six weeks.
12:56 Will there be an iOS release? Humaniq chose to go with Android first. Mobile phones became something very personal. Humaniq reaches its end-customer directly through providing these services on mobile computing. Due to the price of mobile phones dropping dramatically in the past years, it became a lot more accessible for people to acquire a mobile phone. The main mission of Humaniq is banking the unbanked, empowering the unbanked. Making sure financial inclusing is out there, hence why Humaniq decided to focus on Android first. However, Humaniq is aware of the strong industrial community behind iOS, which is why Humaniq is also working on an iOS app. It is important to note that Apple does not allow HMQ, just like with other tokens. The Humaniq team has been working on resolving this problem, however the iOS app is not a main priority, and it never will be.
14:50 Other new Ethereum technologies. The new Ethereum technologies like Plasma and database sharding are developed for the purpose of solving the problem of scaling, to make sure the network is capable of processing these transactions. With the hybrid blockchain model, Humaniq is not interested in the scaling problem anymore, as they’re capable of growing and consequently getting more and more users.
