Fermat, an ambitious decentralized and blockchain-enabled open source project developing the Internet of People, has made announcements about recent upgrades to its technology and architecture as well as new promising partnerships for 2017.
Participants involved in the Fermat project are working to enable direct device-to-device communication where data is stored on end user devices and applications directly interact with each other. This will be enabled via Person-to-Person apps as part of a new technological paradigm, referred to as the Internet of People.
Fermat project is only 27 months old but it can already boast of more than 60 national and regional chapters including those in Australia, UAE, Canada, Brazil, Singapore, the UK, and nearly all European countries. The mining scheme where mining licenses are issued to Fermat local chapters is a unique innovation at the blockchain level.
The release of the latest technology in Alpha, the Profile Server, will allow users to discover other users’ profiles and establish a device-to-device connection directly between them.
“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 Luis Molina, Fermat’s founder.
The Location Based Network (LOC NET) is the foundation for the geo-localized services Fermat will offer to entrepreneurs building IoP connected apps. Services built on the Fermat stack in the future will be able to partner with LOC NET nodes, and by doing so, these services will become geo-localized.
The Fermat team recalls the first year when several people with ambitious goals teamed up to forge the vision and design the system architecture. More than hundred people were involved in the project on the second year. And now, at the beginning of the third year, the team is planning to release all the Internet of People components (it is a technically challenging project as far as there are many components). This will be a starting point to bootstrap the P2P economy, create tools and client-side infrastructure to easily develop device to device P2P Apps.
The Fermat project has ambitious plans for 2017 as it has already attracted a number of reputable partners – Heimdall PE Partners AG, a Swiss advisory firm for investment vehicle structures and private equity; Tom Lyons, Founder of Lyons Communications, a Swiss-based communications agency specializing in Fintech; Søren Fog, CEO and Co-Founder of iprotus, a leading blockchain consultancy; and Jeremy Epstein, CEO of Never Stop Marketing.
“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 Molina.
The team aims to develop a successfully operating governance system, attract new members, achieve all the goals outlined in the roadmap, and further grow the community chapter network. The most important here is that people involved in the project believe in its bright future, where IoPs are a widely-traded token by the end of this year.