Blockchain project Fermat releases alpha version for new infrastructure ‘Internet of People’

Blockchain-enabled open source project Fermat has announced a significant alpha release for its new infrastructure ‘Internet of People’ (IoP).

IoP enables people to communicate with each other using their own devices directly without relying on any trusted third party to establish the connection. The data will be stored on end user devices and applications will be built to interact with each other directly. The project has also announced major upgrades to its architecture and technology.

The latest technology to be released in Alpha is the Profile Server, which is a broader IoP architecture that enable users to discover other user’s profile 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,” Luis Molina, founder of Fermat, stated in a press release.

Last year, the Fermat Project successfully built and implemented the IoP token blockchain, distributed mining software, and IoP Wallets. It is a unique mining scheme where IoP mining licenses are issued to Fermat local chapters. Currently, the project has more than 60 national and regional chapters worldwide that are established to mine IoP tokens in a highly decentralized manner.

With the new alpha release, Fermat Project also welcomed key members in the industry to its team. Heimdall PE Partners AG will be working to bring in additional investment for the project, along with the addition of Søren Fog, an established cryptocurrency and blockchain expert, former UBS Communications specialist Tom Lyons, among others to the team.

“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,” Molina added.

Molina also stated that in 2017, the company aims to establish a successfully operating governance system, add additional members to its management team, meet the network infrastructure goals that are outlined in the roadmap, and grow the community chapter network.

Presently, the IoP tokens are traded on Bittrex, C-Cex, and can also be acquired with fiat currencies at Bitcoin Suisse AG.