Decentralized blockchain and graphchain-enabled open source project Fermat has partnered with distributed direct democracy and decentralized application platform Cicada in a deal which allows Fermat’s continued growth.
Fermat’s Internet of People aims to improve the cost effectiveness of globally scaling businesses by removing unnecessary steps which add to transaction costs.
Cicada is a distributed direct democracy and decentralized application platform with the goal of revolutionizing governance on a global scale. It employs a privacy-guaranteeing, decentralized identity and proof of work which promises to deliver a universal basic income while providing immunity against mining centralization. It was founded by system architect Daniel Jefferies.
“Fermat is above all an alliance of values, which is striving to create a more decentralized world where people’s privacy is respected and power is held accountable,” Fermat founder Luis Molina said. “It is our aim to collaborate with projects like Cicada, which share these values and furthermore support our fundamental principles of diversity and personal liberty.
“We have a strong belief in communities and collaboration. Each of these projects take a particular approach to analyzing the problems and focus on certain areas. By joining forces, we end up working with a more holistic approach and are able to deliver better and more comprehensive solutions. This is exactly the case with Cicada – a project which has completed a significant amount of work analyzing the issues of identity, reputation and governance.”
“Cicada will help Fermat with getting decentralized IDs right, along with the reputation system, as well as building the first killer apps for the Internet of People,” Mr. Jefferies said. “Working in a silo only gets you so far. To really flourish you need to work together towards a higher goal, and that’s what this partnership is all about.”