Humaniq’s roadmap for building a critical mass of usersEvery new app-based service has the same challenge: how do you get people to use your app and then recommend it to their friends and family? Advertising can get you initial users, but by far the most effective way of building up a large base of clients is by having them also be your advocates. The central tenet is that if someone likes the services your app provides to them, then they probably know other individuals with similar needs who would also benefit from using it. Easy, right? Well, like many ideas in business, it’s very simple to understand but difficult to execute well. As an offer of proof to this assertion, one only has to look at the long history of hyped up apps that started with a bang and disappeared with the faintest of whimpers. Humaniq is guided by the principle ofMetcalfe’s Law. Simply stated, the value of a network is greatly increased the more users you add to it. Think of Facebook — with 1000 users it’s a novelty, with 1 billion users it’s a monolithic powerhouse because every business wants access to that user base. Why do I bring this up? Because Humaniq is not a micro-purchase gaming app that can make a significant profit from a small user-base. Humaniq needs to get big before its full potential will be realized. It will still be profitable with a relatively small number of users, but the services it offers become significantly more powerful when there’s a huge network of users. Now to the discussion of Humaniq’s plan for building a solid network that spreads quickly among friends and family of users. Some of you may know whoAlakanani Itireleng is, but for those who do not, she’s a tireless advocate for Bitcoin and cryptocurrency adoption on the continent of Africa. We are fully aware that Africa is a huge landmass with 54 countries, 1.2 billion people, and somewhere between 1500–2000 spoken languages. But our ambitions are not limited to Africa. There is a large need for Humaniq in India, Latin America, and south-east Asia. That’s why Alakanani, from her base in Botswana, is head of our ambassador program and will be receiving a lot of help from the team she’s coordinating, along with the full support of Humaniq team members in London, Luxembourg, and Moscow. Humaniq’s ambassadors are regional and country specific advocates who will be educating influencers and recruiting a network of local advocates who will show people how to use Humaniq. They are planting the seeds that will let our financial services ecosystem take root and flourish. Humaniq’s ambassadors have an additional mission: scouting out the locations and companies that will act as mobile cashiers. One of the key features that will assist in adoption is the ability to exchange cryptocurrency tokens like HMQ, ETH, and BTC for local currency. Most of our target audience make their local transactions for food and products using cash. Enter the mobile cashier, which has already been pioneered by M-Pesa and other companies. In some areas we’ll be able to piggyback off of the existing networks that other companies have built, while in others it will be necessary to build out a network from the ground up. This is a challenge we accepted when we began development of this project, and our plan is to build out networks of cashiers in the larger towns and urban centers first, and then expand them outwards as we make our user adoption push into smaller towns and villages. Building this network is going to take significant work, but it’s not a herculean task. We’ve segmented our plan into smaller, achievable tasks that lead to bigger milestones, and we’re taking it one step at a time. Our marketing and business development teams are working closely with our ambassadors to ensure that our strategy is realistic and will match the realities on the ground in the diverse environments we will operate in. We’re very excited to meet these challenges head first and bring our solution to areas and people that have largely been ignored by traditional banks and financial services companies.
Hockey Sticks in EthereumCredit for hockey stick and rainbowHockey stick
is a common term used in startups to denote exponential growth in a
metric such as users and revenue. In this article we look at some
potential hockey stick charts for Ethereum.
is the native token of the Ethereum network and is used to pay fees for
state changes to the blockchain including creating and interacting with
smart contracts. It can be easily transferred from one account to
another with no jurisdiction restrictions and is traded on many online
exchanges mainly against bitcoin, USD, EUR and KRW. Ether was first
created in a crowdfund to raise funds for development by exchanging for
is also created constantly by a process called mining where fees plus a
block reward is given to anyone or anything that is able to verify
valid transactions and add them to the blockchain through proof of work.
This adds about 5 ether to the total supply roughly every 14 seconds.
Therefore the total value is also relevant when looking at the price of
more miners participate to verify blocks, blocks can be verified much
faster than 14 seconds and more batches of 5 ether will be created. To
counteract this, a difficulty is set for miners and can be adjusted
dynamically to ensure a more constant block time of around 14 seconds
and control the rate of ether creation. The difficulty of the network
can be used to measure the amount of resources dedicated to mining
Trends gives an indication of the amount of internet search interest on
Ethereum, which can include new people wanting to know more about it to
developers searching for smart contracts solutions to entrepreneurs
trying to build next generation applications.
state changes in Ethereum such as ether transfer and interactions with
smart contracts are done through transactions. Transactions are all
signed cryptographically and stored. The number of transactions can give
a rough indication on the amount of activity and utilization of the
The Ethereum subreddit
is the main place where public discussions happen. Topics can range
from new comers asking for help, project/event
announcements/discussions, encouraging each other and friendly banter
with developers and other Ethereum lovers/haters.
is currently the most popular Ethereum client. It is open source and
implemented in golang. It is an Ethereum node and can be used to
communicate with other Ethereum nodes, verify transactions,
broadcast/relay transactions, interact with smart contracts etc. The
Github stars can indicate the amount of interest Github users have in
the more technical aspect of Ethereum.
is a chrome extension that enables users to interact with applications
built on Ethereum from the web browser without the hassle of running a
client like geth. This allows developers to leverage on existing web
development technologies to build decentralized applications. The number
of active users is a good indication of Ethereum users and usage of
is one of the libraries built for more abstract communication with
Ethereum nodes. It enables creating and signing of transactions,
querying smart contracts etc. The amount of downloads is a good
indication of the amount of developers building and exploring Ethereum.
is one of the main framework for developing Ethereum smart contracts.
smart contracts. The amount of downloads is a good indication of the
amount of developers building smart contracts.
solc-js is one of the compilers for Solidity,
one of the smart contract language for Ethereum. It compiles high level
language into machine code for execution in the Ethereum virtual
machine. The amount of downloads is a good indication of the amount of
developers building smart contracts.
Visit Ethereum main site to learn more.
Visit our site to see how we are enabling employees to receive part of their salary in Ethereum tokens.