The cryptocurrency industry already has countless use cases, even though we are still only beginning to discover all the ways that it can be applied to change the world as we know it. Of course, there are some obvious ones, such as making transactions faster, cheaper, and near-instant around the world. Another one is to use them to fuel development platforms, or receive passive income through procedures like staking.
However, as the adoption is picking up across the globe, and there are already countries that are adopting cryptocurrency — not to mention skyrocketing institutional adoption — there are new use cases that are becoming reality, even though they were only theoretical up to this point.
One example is using digital tokens to pay a distributed workforce, which is something that a project called the HUMAN Protocol is working on. And, as evidence that the protocol is beginning to take root — it was just listed on Bitfinex.
What is the HUMAN Protocol Project?
Combining emerging technologies such as crypto and blockchain with the likes of other new and revolutionary tech and concepts, like AI and Machine Learning has been a long-time obsession of developers from all of these fields. HUMAN Protocol is not solely focused on this, although bringing automation is a part of its long-term goals, where workers would contribute to the future of AI by doing valuable tasks that they would be paid for.
In fact, any kind of work — including microwork — deserves to be paid, but the process of doing so would be too time-consuming and too expensive if humans had to manually approve every such transaction, which may sometimes consist of only a few cents.
Enter HUMAN Protocol, which aims to make such processes fully automatic, recorded, and settled on the blockchain. As such, it would not require trust, nor any kind of manual work by humans. However, this is only the beginning for the project, and only the first of its many potential applications which are now being developed.
Even so, the fact is that the project seems promising to the crypto world, as it was just listed on Bitfinex, as mentioned.
The HUMAN Protocol on Bitfinex
According to the HUMAN Protocol Foundation, their native token, HMT, is now supported by Bitfinex where it is available for trade. The exchange made the coin available for trading on Tuesday, September 21st, starting from 09:00 am UTC.
The project has been kept a close eye on ever since its recent token sale, which likely also impressed Bitfinex. According to available information, HMT was bought by 63,000 unique participants, indicating huge interest, and great potential. In fact, the number of participants alone broke the CoinList participation record.
The HUMAN Protocol Foundation’s Director of Technology, Haryjot Singh, said that HMT was designed to transform the way people work, and to be a truly practical solution to acknowledging every job and activity that workers perform. It is a new way of rewarding effort and contribution, but in order to be accepted and used, it has to be both accessible to Requesters and attractive to workers.
This is why listings like this are crucial for the project’s future, as each one demonstrates the broader vision to increase the token's circulation and utilization.
Bitfinex’s reputation as one of the most powerful, robust, and popular exchanges around the globe has made it one of the biggest goals of the young protocol, and now, this particular goal can be crossed off the list.