ICOrating assigns the "Stable" rating to the Humaniq project.
- A promising market direction of the project. Regions with the weak financial infrastructure have been monitored by traditional financial institutions and young fintech companies for a long time.
- Founders have effectively solved the user identification problem in the regions with low literacy rates by introducing bio identification tools.
- Infrastructural nature of the service opens great prospects for its development, by the possibility of connecting a potentially huge number of fintech services that will serve the users of the network.
- The founder of the project has extensive experience in the fintech and the
- Huge scalability potential the project due to its infrastructural nature of the project and a huge number of people that are not covered by financial services.
- A detailed motivation system for ambassadors.
- Potentially serious competitive advantages.
- Successful Pre-ICO.
- Experienced team of technical specialists: Etherion Lab wrote smart-contracts for Waves and Ethereum ICO; VisionLab is a one of leading developer of bio identification solutions.
Weak points in the project include the following:
- Financial motivation of investors is based only on the long term growth of the token market value. There are no other types of reward for investors.
- Since the project is non-profit in nature, the model of further monetization of the platform is still poorly developed. So far the project has only a general outline of ideas, such as creating online jobs with charging fees for transactions by employers that offer remote work for the network users, for example, for viewing or editing content.
- The value of the network, and as a therefore of the tokens, will grow as the number of active users increases, so there is no expectation of an "explosive growth" for the token value. Humaniq is a long-term investment project.
- The introduction of bio identification for the ease of use has weakened the security of users’ funds and the network itself (standard passwords and authentication means are currently more reliable than bio identification), it will be necessary to develop new solutions to protect the data and prevent illegal release of tokens.
At the same time, it should be noted that the growth potential for the token value is of a long-term nature. So investors shouldn’t expect an active growth after the start of the secondary trading and the speculative potential in this case is minimal. As the user base of the project grows, as well as the number of projects connected to the infrastructure, their exchange value will grow, which in the long term can be very profitable.
Due to the long-term prospect of potential growth of the exchange value of tokens, the question whether to buy them during the ICO, or at the secondary market is quite natural. While there is no need to expect a strong price drop at the beginning of the secondary trading, the bonus system at the start of crowdsale gives quite significant benefits to investors.
The fact that the project aims to solve real and objective issues is a substantial advantage as well as a clearly defined target audience.
The potential of the market not covered by financial services is being discussed by both traditional financial institutions and fintech companies for a long time. It was only a matter of time before the first project, that aims to solve this problem would appear. It is not surprising that it came from the blockchain industry since the technology of the distributed database itself solves many problems that prevented traditional players from entering this market.
In our opinion, the team has all the necessary competencies and experience to implement the announced goals of the project.