I. Introduction
Unemployment is a severe problem in today’s society, especially in the context of the ongoing COVID-19 pandemic. According to the International Labor Organization (ILO) report, the unemployment rate in 2020 increased from 4.4% (2019) to 5.7%, and 81 million jobs were lost only in the Asia-Pacific region. Stemming from the fact that demand for searching virtual jobs is higher than ever under the impact of restrictions and social isolation, Human Protocol was born in this urgent situation.
First, let’s make a few things clear: HUMAN Protocol has not yet been a marketplace for job seekers; it’s leveraging the existing workforce for a new job now. However, this is only the beginning; HUMAN Protocol and its partners are planning to bring more applications. So what is precisely HUMAN Protocol doing currently? Suppose you have expertise in engineering or information technology. In that case, you probably know that training data for Machine Learning models are not accessible. Yet, you still have to do it every day without being paid any money by completing captchas on your visit websites. For example, the captcha asks you to choose photos with a bus in many pictures to prove you’re not a robot, which means you’re guiding their AI to identify which bus is and which is not. That’s unfair to all of us!
The HUMAN protocol is a new protocol for humans and machines to work together. It provides a way to ask questions that machines cannot answer without human assistance. HUMAN allows you to ask questions, provide data and pay helpers. The protocol enables automated job markets with repetitive jobs to be handled by machines. Network participants use HUMAN Protocol tokens to pay for labor through smart bounties and reward validators that provide services to the network.
II. Market Analysis
The worldwide blockchain market size is required to develop from USD 3.0 billion out of 2020 to USD 39.7 billion by 2025, at an amazing Compound Annual Growth Rate (CAGR) of 67.3% during 2020–2025. Along with AI and Big Data, Blockchain is also the core technology of the 4.0 revolution. Therefore, a project that can combine all three technologies to solve real-life problems will have a huge market.
Similar projects:
Keep3r. Network ($18,530,104.15 as of 7/7/2021): It is a decentralized platform designed to facilitate coordination between those projects that need resources outside the scope of development activities and provide the necessary services.
III. Product Highlight
(This diagram demonstrates the interaction between different components and entities within the network)
Artificial Intelligence and Machine Learning
AI/ML requires labeled data. Applications that run on top of the protocol provide tools and connect the workforce to dataset labels. We have explained and given examples about the way it works in the introduction of the Deep Dive.
This allows companies to build AI using HUMAN APIs to gain user insights. Below is an example of the data path for hCaptcha.com – An application built on the HUMAN Protocol.
Proof of HUMANity
Blockchains sometimes need to know if a real person is interacting with it. HUMAN enables on-chain authentication to protect users from bots. This enables blockchain-based verification for markets like token exchanges, prediction platforms, and more.
Empowering the Gig Economy
The gig economy is based on flexible, temporary, or freelance jobs, regularly including interfacing with customers or clients through an online stage. It also benefits people who want to make their work more adaptable to the moment’s needs and demand for flexible lifestyles.
It is difficult to recruit workers, ensure quality, and pay wages according to the scale. HUMAN allows anyone to post a job, and a distributed workforce will complete it. In principle, almost any type of work can be posted on HUMAN Protocol, with evaluation and compensation managed by the software.
Prediction Markets
Prediction Markets are decentralized protocols where anyone can trade the outcome of events on algorithms (smart contracts) that execute when certain conditions are met.
The prediction Market can be a powerful tool, but finding the consensus rate of any given event is difficult. Accuracy requires a high approval rate. With the ability to link many people globally, HUMAN allows prediction markets to ask questions and get votes on the probability of many people. The results are stored on the blockchain.
HUMAN Wallet
(It will be the primary way to interact with dapps and platforms in the protocol’s orbit)
The HUMAN Wallet will be used to view jobs as posted and secure the Human network by staking with trusted validators and exploiting cross-chain applications.
HUMAN Wallet will enable entry into this new decentralized job market for human intelligence tasks. The availability of the new Proof-of-HUMANity developer tool will ensure the integrity of participation in blockchain networks.
Translator and many more apps in the future
Millions of people work on knowledge jobs represented by HUMAN tasks, but reaching the right people at the right time is difficult. The protocol allows different types of work done by the right workforce, with software-guaranteed quality and payment from interpreting to transcription.
Whitepaper: Papers are publicly available and transparent. Details can be found at
Github: Public and regularly updated. Details can be found at Human Protocol · GitHub – Repositories.
The product status: There are many products and applications that apply HUMAN Protocol. The most prominent among them is hCaptcha. You can experience it at hCaptcha – Stop more bots. Start protecting privacy.
IV. Unique Selling Point (USP)
Access the World’s Workforce
Arrive at a vast number of laborers across 247 nations and regions.
World-Wide Micropayments
HUMAN trades power from one to numerous micropayments. A considerable number of times each day.
Consistent Markets
Almost all of the aspect in the exchange is automatic from Software algorithms, smart contracts to the governance of the transactions.
Trustless
There is no need to identify people on the other side of the deal because HUMAN software will implement following the rules. Smart contracts ensure the bounty and reward are released if work is completed according to the specifications.
Seamless Integration
HUMAN Protocol allows API-driven platforms that automatically manage the labeling, evaluation, and data delivery process for machine learning and other applications at web-scale. In addition, giving AI/ML systems new capabilities to respond to the world through human insight.
Proven Apps
Applications powered by HUMAN are used by hundreds of millions of people every month, including AI services, protection against bots, and more. HUMAN is network agnostic and supports options like Ethereum, Polkadot, Solana, allowing users to choose the platform based on their needs.
Empowering the Workforce
The HUMAN Protocol tokenizes and implements interchangeable tasks of any size and requirement to help both companies and individual workers become independent, maximize their time and resources.
Supporting job market after the pandemic in global
Support the creation of decentralized job markets in which entities on both sides can transact securely, reliably, without intermediaries. This is a perfect solution to help solve the unemployment problem during and after the pandemic.
V. PR & Marketing
Telegram (Contact @hcaptchachat) – There are more than 10000 active members.
Twitter (HUMAN Protocol (@human_protocol)) – Has more than 9,400 followers.
News: Information about the HUMAN Protocol has appeared on major news channels such as Coin Desk, Yahoo Finance, News Bitcoin,… You can read some of them at:
VI. Investors and partners
Investors:
The amount invested is not public, while there is little information about this project’s venture capital investment activities.
Partners:
HUMAN has partnered with Solana, Polkadot, and Chainlink, with further partnerships planned.
Eli-Shaoul Khedouri (Eli-Shaoul Khedouri – CEO – Intuition Machines, Inc.)
Advisor
CEO of Intuition Machines, an AI/ML company that serves a significant number of the world’s most famous companies with AI/ML-powered products and services, including hCaptcha.com, used by more than 15% of the internet for now.
VII. Team
HUMAN Protocol team is very diverse, coming from both traditional and crypto fields includes alumni from many of the world’s top institutions, including EY, Playfair Capital, Ohmdata, and more. Some of them are the founder who sold their company to giant corporations. The founding team includes:
VIII. Roadmap
The project has achieved previously set milestones….
The following plan is still being updated…
Based on the milestones that the centrifuge team has set and implemented on time with high efficiency in the past. This also demonstrates the commitment and trustworthiness of the project.
IX. Token Economy
Token Distribution
Token Utility
Human (HMT) is the native token for the HUMAN network. Its role within the network as a local currency with practical functions and characteristics is as follows:
- Network participants use it to pay for labor purchased via smart bounties on the network.
- Reward validators who provide services to the network
- The Reputation Oracle requires HMT for authenticating the work
- The Exchanges get HMT for the work being in the same league as the requested job
For example, a business that wants to get a million images labeled to train Machine Learning models. They must fund the smart contract with HMT; the websites and Workers on the other end, who complete the work, are paid in HMT. Network service operators are also compensated in HMT.
(No individual or organization can get more than 1% of the network through a public sale)
Network Valuation & Asset Pricing
Because the token was only released on Coinlist on June 15, 2021, there has not been yet much data on the token price. However, in the last public sale, HMT was priced at $0.5 and $0.75 for Option 1 and Option 2 respectively. You can see it as a benchmark for your future investment decisions.
