HUMBL (OTCMKTS:HMBL) Blockchain Services on April 13, 2022, announced unanimous approval as well as formation of pilot program with County of Santa Cruz, California for developing digital wallet.
Trading Data
On Wednesday, HMBL stock surged 11.17% to $0.1329 with 18.10 million shares, compared to its average volume of 11.54 million shares. The stock moved within a range of $0.1198 – 0.1460 after opening trade at $0.1210.
The program would be customised to experiment with streamlining as well as equitable distribution of city services through mobile wallet. The pilot will have infrastructure for digital wallet and serve the needs of the community. Sponsored by Supervisor Zach Friend, it was approved unanimously by the County Board of Supervisors. The program would be delivered by August 9, 2022.
HUMBL CEO, Brian Foote believes that a key part of blockchain use will be mobile wallets. Foote added that document storage, delivering personal identification, verifiable credentials as well as payment methods for citizens globally will help in effective interaction with various governments. The CEO believes that it is a positive step towards the future both California and the United States.
The pilot is the first in the state and will be an innovative method to give equitable access to its constituents. The County is keen on exploring variety of blockchain based options. This includes library cards, marriage licenses as well as birth certificates.
Alfonso Arana Jr., Vice President of HUMBL Blockchain Services appreciated the innovative mechanisms adopted by Santa Cruz in adopting blockchain technology.
Key Quote
“At HUMBL Blockchain Services we believe one of the key uses of blockchain will be mobile wallets. Delivering personal identification, verifiable credentials, document storage and payment methods for citizens around the world to interact more effectively with their local, state and national governments,” said HUMBL CEO, Brian Foote. “Today is a positive step towards that future here in the United States and in our home state of California.”
Technical Data
HMBL stock is below the 20-Day and 50-Day Moving averages of $0.13 and $0.14 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.53.
