BanQu: Dignity Through Identity™
BanQu has developed the first ever blockchain economic identity technology solution that enables a secure and immutable platform for creating economic opportunities for people around the world who are refugees and/or living in extreme poverty. The BanQu platform uses a proprietary (patent pending) method to create a mashup of selfie plus other key human characteristics for people with no access to technology or banking.
Our technology provides a platform where refugees, the displaced, and the world’s poorest can maintain a free, secure online profile that provides them with a universal fiscal ID and allows them to begin tracking their relationships and transactions. Over time, they build a recognizable, vetted identity, which is the base prerequisite to participating in any form of ownership or transactions in the global economy. While maintaining ownership of their personal information, a BanQu user decides what information to share and with whom. Providing people with control of their own economic identity creates Dignity Through Identity™.
What is Blockchain?
In simple terms, it is a new type of data application or ledger, storing immutable data, which can be directly shared, without requiring a central administrator. This contrasts with traditional databases, which have one single administrator that owns and controls the data. The new “protocol” or design of the blockchain enables transactions directly between two or more parties, authenticated by mass collaboration and powered by economic incentives and self-interests. It is enabling the democratization of data, money, and eventually power. Also, blockchain transactions are based on cryptography which makes them inherently more secure than any traditional database or system today.