February 16, 2017 By: Mike Dautner
Fermat is known to be the widely anticipated decentralized and blockchain-enabled open source project developing the Internet of People. Most recently, it announced some pretty significant upgrades to its technology and framework—in addition to new partnerships after a highly successful 2016.
Presently, the Fermant project’s community contains over 60 national and regional chapters across the globe. All of these chapters have been established to mine IoP tokens in a most decentralized fashion.
Having gotten its start back in April of 2016, Fermat’s vision began as a way to enable direct device-to-device communication, totally separate from any other entity or web server. Data will be carefully stored on end user devices, and apps will be made to interact with each other directly. This will be possible due to P2P apps as part of new technological phenomena often called the Internet of People. You may already be familiar with the Internet of Things. It is essentially an ambitious vision from Founder Luis Molina, and people are beginning to take notice of his efforts.
Throughout 2016, Fermat had successfully built and implemented the IoP token blockchain, and distributed mining software and IoP Wallets. The number one innovation at the blockchain level is it’s one of a kind mining scheme wherein mining licenses are distributed to Fermat local chapters.
“Completing the development of the Profile Server is a significant milestone for the project, as it is an essential component of the Fermat infrastructure. This combined with the completion of our Location Based Network and Content Address Network puts us firmly on track to meet all of our development goals in 2017,” said Molina.
The Location Based Network is the foundation in which the geo-localized services Fermat will offer to entrepreneurs building IoP connected apps.
“One ambition of mine for 2017 was to expand our management team 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 look forward to watching the project grow and succeed with their expertise and knowledge of their fields. The next step is to hire a full-time senior management team. The size of the project already demands it,” said Luis Molina, Founder of Fermat.
“Developing a global community is crucial to building a decentralized platform such as the Internet of People. We have seen a significant growth in interest from countries, states and metropolitan regions across the world since the Chapter network was established in November 2016 increasing our local chapters by over 20 month on month,” added Molina.
“Looking ahead into 2017, we aim to establish a successfully operating governance system, add additional members to our management team, meet our network infrastructure goals outlined in our roadmap, and further grow our community chapter network. I envision an extremely bright future for this project, where IoPs are a widely-traded token by the end of this year,” concluded Molina.
