After a year of development, “community super app” Fedi is officially launched Release The company announced yesterday its plans to open source its freedom tech stack.
Introduced in 2022 Feddy is a financial platform that aims to harness the power of local communities to provide individuals with financial access and resources.
The release of Fedi, a privacy-first blockchain, marks a major step forward in fostering grassroots economic development and individual freedom. Fedimint’s consensus protocol enables community leaders to organize common resources, support the sovereignty of participants, and inspire social opportunity.
“A single piece of software that can replace multiple legacy apps with safe and secure alternatives, delivered by the community, not by a company.”
Yesterday’s release focused on the individuals behind this effort and their unique vision for the project. presentation The app, available on Fedi’s website, highlights how various partners, including humanitarian organisations, are using it to explore ways to make their communities more sustainable.
“We have the care, vision and determination to make it happen,” says the company’s co-founder, Obi Nwosu.
In keeping with the community’s image
Fedi is based on the idea that individuals should have more power in choosing who they entrust with their money and data. On the Portuguese island of Madeira, a non-profit organization is using the Fedi application to connect entrepreneurs, merchants, and bitcoin enthusiasts.
Free Madeira Feddy runs a federation that provides a range of services that power the local Bitcoin economy, all revolving around the community and its members. Applications like storage, payments and messaging have traditionally been the domain of corporations and opaque service providers, but Feddy empowers neighborhoods, groups and local organizations to use their technology to serve others.
Unlike other Bitcoin protocols that try to eliminate trust, the project aims to enable the possibility of real-world relationships and connections between users.
“We know that the most advanced technology is communities. Communities are creative, innovative and resourceful in their own right. They just need the tools to nurture them and help them reach their potential,” Global Marketing Manager Mary Imasuen said during the project’s virtual event.
Operators, called Guardians, can customize the experience for their communities, allowing each federation to tailor the platform to the needs of its participants. In the case of Chef Lopez in Togo, the application is being used to pioneer a new microloan initiative to improve access to agricultural resources in the region. Farming cooperatives organize through the Fedi application, with delegated representatives pooling resources to purchase the supplies they need to stay operational.
To facilitate greater participation from these communities, Fedi also revealed details of the “Fedi Order,” a group of skilled people who have been deployed around the world to assist with the process.
A radically new approach
Fedi: Feddy Mint The protocol was originally created by Eric Sirion, a Bitcoin developer and co-founder of Fedi. Recognizing the challenges with existing self-custodial solutions and conscious of the risks associated with centralized control, Fedi introduced an alternative called “community-governed.”
Fedi relies on a federation of guardians to pool control over members’ assets and uses threshold signatures to eliminate trust in any single party.
Think of it as a community multi-signature wallet. To improve on existing custody solutions, the project leverages Chaumian eCash, a privacy-preserving form of digital cash that represents a claim on the community’s Bitcoin reserves. This ensures that transactions between community members remain private and prevents balances from being exposed to observers.
Before the advent of Bitcoin and blockchain, computer scientist Nick Szabo recognized the potential of using microorganisms to secure financial transactions, and he coined the idea “Secure ownership of real estate with the owner’s authorityMore recently, the concept of federation has been popularized by the implementation of Blockstream. Liquid Sidechain.
Fedi’s consensus system creates a versatile platform that enables a variety of use cases beyond private, fast and scalable payments. Thanks to its high-performance infrastructure, the protocol allows participants to deploy modular “freedom tools” such as a chat interface supporting encrypted messaging, private groups and social payments. “Fedi mods” can be used by developers and third-party applications to introduce new features to the platform and distribute them to the federated network.
“Mods is a unique web app that seamlessly integrates with Fedi to personalize your experience, allowing you to top up your phone, save with friends, buy gift cards, and more.”
Fedi will be more than just a wallet, it will be the operating system for the communities it supports, enabling them, in many cases, to participate in the digital economy for the first time.
Notable features showcased in yesterday’s presentation were the ability to make offline payments and “stable balances,” which are used to peg users’ balances to their local currency.
The Fedi app is available starting today iOS and AndroidCommunity leaders and organizations interested in working with Feddi can contact them at sign up For programs. Grants are available to support the development of federations.
