Blockchain Firm Humaniq Launches Pilot Project For Its Users In Agricultural Business

Announcements, News | August 10, 2018 By:

Blockchain banking app Humaniq has launched a pilot project aimed at improving the business knowledge that its African users have today.

Founded in 2016 by Alex Fork, Humaniq is a banking application built on the ethereum platform with a shared API for quickly integrating new startups and services from existing companies. The company provides next-generation financial services using its blockchain mobile application to the unbanked and under-privileged in emerging economies globally.

Called Humaniq Farm, the pilot project aims to empower its Africans users in the agricultural business to advance as entrepreneurs. According to a study conducted by the Humaniq team, agriculture is a vital sector for sub-Saharan Africa. However, given Africa’s rapid economic transformation, demographic changes, fast urbanization and a shortage of qualitative data, there is a risk of farmers lacking the expertise to take advantage of new market opportunities.

Humaniq Farm would provide both beginners and experienced farmers across East Africa with advanced knowledge and motivation. The company is planning to start with general and inspiring features and move towards more complex and applied knowledge in terms of market segmentation, targeting, positioning in the agricultural market with a focus on the needs of target audiences.

“The content from Humaniq Farm will simultaneously be included in the Humaniq mobile app that runs even on low-end devices and already has more than 400,000 users in 16 African countries onboard,” the company said. “All Humaniq Farm content is available in both English and Swahili.”

Dennis Nombo, Product Manager at Humaniq, said that a sustainable and resilient agriculture sector is vital for sub-Saharan Africa’s economic future.

“It is a home to nearly half of the world’s uncultivated land that is able to be brought into production,” said Nombo. “Yet a lack of knowledge is a substantial barrier to a prosperous Africa and its people. The Humaniq Farm test project is aimed at eradicating illiteracy in the agricultural sector step-by-step and providing both experienced farmers and those starting out across Africa with the skills and motivation to succeed.”