How can Humaniq liberate people from a reliance on the old,centralised banks, and how can we help make a more collaborative, peer-to-peer economy happen? How can we maintain a record of all transactions without banks, and offer financial services everywhere? Whether you want to know about the Blockchain or smart contracts, decentralised apps or gas, here we share the technical underpinnings of the Humaniq app and the HMQ cryptocurrency.
Blockchains are still best-known for being the medium that made the cryptocurrency Bitcoin possible. The Bitcoin Blockchain was introduced in 2009 for the purpose of tracking all transactions made in that digital money. Blockchain technology potentially is suitable for recording far more than the amount of cryptocurrency being held and used, including agreements between people. Other providers have since launched other blockchains in order to cater for such wider applications, including Ethereum, which in 2016 launched a new, open-source, blockchain as a platform for any applications that cut out middle-men and widen access to services.. Ethereum facilitates a blockchain-based economy because every new start-up does not need to deploy their own blockchain, with the possibility of revolutionising a range of financial services, including credit and insurance.