Richard Butler-Creagh Blog

Richard is a Property and Finance Consultant who owns Henley Finance Ltd a specialist lender providing bespoke short and medium-term funding solutions to the residential and commercial property markets. We like to keep you update with all financial news that we think is important in today’s financial market

Internet of People Blockchain Fermat Signs Up New Partners

Fermat’s goal is to enable direct device to device communication, independent of any entity or web server.

Fermat, a decentralized and blockchain-enabled open source project developing the Internet of People (IoP), has announced upgrades to its architecture. Launched in April 2016, Fermat’s goal is to enable direct device to device communication, independent of any entity or web server.

Over the course of 2016, Fermat has built and implemented the IoP token blockchain, and distributed mining software and IoP Wallets. Its key point is a mining scheme where mining licenses are issued to local chapters. Its native IoP tokens are currently traded on two cryptocurrency exchanges, Bittrex and C-Cex.

The latest technology to be released in Alpha is the Profile Server. As a piece of the broader IoP architecture, the Profile Server will enable any user to discover another user’s profile and establish a device-to-device connection directly between them.

“Completing the development of the Profile Server is 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 Founder Luis Molina.

The Location Based Network is the foundation for 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 its nodes, and by doing so, these services will become geo-localized.

Partnerships

The project has also attracted a few new 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.

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