Fermat, the decentralized and blockchain-enabled open source project developing the ‘Internet of People’, have announced major upgrades to its technology and architecture, along with new partnerships. The project’s community currently has over 60 national and regional chapters worldwide, all of which have been established to mine IoP tokens in a decentralized manner.
Launched in April 2016, Fermat’s vision is to enable direct device to device communication, independent of any entity or web server. Data will be stored on end user devices and applications will be built to interact with each other directly. This will be enabled via Person-to-Person apps as part of a new technological paradigm, referred to as the ‘Internet of People’. Over the course of the last year, Fermat has successfully built and implemented the IoP token blockchain, and distributed mining software and IoP Wallets. The key innovation at the blockchain level is it’s unique mining scheme where mining licenses are issued to Fermat local chapters.