The Fermat community grows with over 60 localchapters established worldwide
New York, New York – February16, 2017 – Fermat, the highlyanticipated decentralized and blockchain-enabled open source project developingthe Internet of People, today announced major upgrades to itstechnology and architecture, along with new partnerships following a productive2016. Today, the Fermat project’s community boasts over 60 national andregional chapters worldwide, all of which have been established to mine IoPtokens in a highly decentralized way.
Launched in April 2016, Fermat’s vision is to enable direct device to devicecommunication, independent of any entity or web server. Data will be stored onend user devices and applications will be built to interact with each otherdirectly. This will be enabled via Person-to-Person apps as part of a new technologicalparadigm, referred to as the Internet of People, an ambitious vision fromFounder Luis Molina.
Over the course of the last year, Fermat has successfullybuilt and implemented the IoP token blockchain, and distributed mining softwareand IoP Wallets. The key innovation at the blockchain level is it’s unique mining scheme where mining licenses are issuedto Fermat local chapters.
The latest technology to be released in Alpha is the Profile Server, the cornerstone of the Internet of Peoplesystem. As a piece of the broader IoP architecture, the Profile Server willenable any user to discover another user’s profile and establish adevice-to-device connection directly between them.
“Completing the development of the Profile Server is asignificant milestone for the project, as it is an essential component of theFermat infrastructure. This combined with the completion of our Location BasedNetwork and Content Address Network puts us firmly on track to meet all of ourdevelopment goals in 2017,” said Molina.
The Location Based Network (LOC NET) is the foundation forthe geo-localised services Fermat will offer to entrepreneurs building IoPconnected apps. Services built on the Fermat stack in the future will be ableto partner with LOC NET nodes, and by doing so, these services will becomegeo-localized.
In 2017, the project has already attracted a number ofreputable partners – Heimdall PE Partners AG, a Swiss advisory firm forinvestment vehicle structures and private equity; Tom Lyons, Founder ofLyons Communications, a Swiss-based communications agency specializing inFintech; Søren Fog, CEO and Co-Founder of iprotus, a leading blockchainconsultancy; and Jeremy Epstein, CEO of Never Stop Marketing.
Based in Switzerland, Fabian Langaard and his team atHeimdall will be working to bring in additional investment for the Fermatproject. Søren Fog, an established cryptocurrency and blockchain expert basedin the Crypto Valley will connect his current blockchain projects to theInternet of People. Former UBS Communications specialist Tom Lyons has alsojoined the Fermat project consulting on the internal and externalcommunications of the organization.
“One ambition of mine for 2017 was to expand our managementteam with world-class talent. I am delighted to welcome Heimdall PE Partners,Tom Lyons, Søren Fog and Jeremy Epstein to the Fermat project and I lookforward to watching the project grow and succeed with their expertise andknowledge of their fields. The next step is to hire a full-time seniormanagement team. The size of the project already demands it,” said Luis Molina,Founder of Fermat.
The Fermat Community is organized into local “Chapters”with currently over 60 located worldwide, including Australia, UAE, Canada,Brazil, Singapore, the UK, and within nearly all European countries. Led by achapter president, each group is charged with advocating for the Fermat projectwithin their country, region, or city, with tasks including running a testnetnode, holding meet-ups, marketing the project, and mining IoP tokens. A mininglicense is shared among a chapter with additional licenses available as thechapter grows. Each chapter holding a license is entitled to run one miningnode and receive IoP tokens from the IoP blockchain as reward.
“Developing a global community is crucial to building adecentralized platform such as the Internet of People. We have seen asignificant growth in interest from countries, states and metropolitan regionsacross the world since the Chapter network was established in November 2016increasing our local chapters by over 20 month on month,” added Molina.
“Looking ahead into 2017, we aim to establish asuccessfully operating governance system, add additional members to ourmanagement team, meet our network infrastructure goals outlined in our roadmap, and further grow our community chapter network. Ienvision an extremely bright future for this project, where IoPs are awidely-traded token by the end of this year,” concluded Molina.