After a year of incubation, the Community Superapp has been officially launched. It was launched. Yesterday, it announced plans to open source its suite of freedom technologies.
Introduced in 2022, And covers It is a financial platform that aims to empower individuals to access financial resources by leveraging the power of local communities.
Designed with privacy first in mind, the Fedimint Protocol is a major step forward in promoting grassroots economic development and individual freedom. The Fedimint Protocol allows community leaders to organize shared resources, support participant sovereignty, and stimulate social opportunity.
“A single piece of software can replace multiple legacy applications with safe, secure alternatives that rely not on companies, but on communities.”
Yesterday’s issue focused on the individuals behind this effort and their unique vision for the project. Power point In a flyer available on its website, Fedi highlights how different partners including humanitarian groups are exploring ways to make communities more sustainable using the app.
“We are the ones who have the care, the vision and the determination to make it happen,” says Obi Nwosu, the company’s co-founder.
In the image of its communities
At the heart of Fedi’s idea is that individuals should have greater power to choose who they trust with their money and data. In Madeira, Portugal, a nonprofit is working to connect entrepreneurs, traders, and Bitcoin enthusiasts using the Fedi app.
free wood Fedi runs a consortium that provides various services that support the local Bitcoin economy. It’s all about the community and its members. While applications like custody, payments, and messaging have historically been the domain of opaque companies and service providers, Fedi allows neighbors, groups, and local associations to use its technology to serve others.
Unlike other Bitcoin protocols that attempt to eliminate trust, the project seeks to enable the possibility of real-world relationships and connections between its users.
“We understand that the most advanced technology is the community. Communities are creative, innovative and resourceful in their own right. All they need is a tool to help them rise and elevate their potential,” shared Mary Imasuin, Global Marketing Director, during the project’s virtual event.
Operators, called guardians, can customize their community experience, allowing each federation to tailor the platform to the needs of participants. For Chef Lopes in Togo, the app is being used to pioneer new microlending initiatives that improve access to agricultural resources in his region. Agricultural cooperatives are organized through the Fedi app and pool resources for authorized representatives to purchase the supplies needed to support their operations.
To make it easier for these communities to join, Fedi also revealed details about the “Fedi Order,” a group of individuals with technical skills spread across the world to assist in the process.
A radically new approach
Fedi is supported by a new technical architecture based on feed A protocol originally created by Bitcoin developer and Fedi co-founder, Eric Sirion. Recognizing the challenges posed by current self-custody solutions and the risks associated with centralized custodians, Fedi introduced an alternative referred to as “community custody.”
Fedi relies on a federation of trustees to assume joint control of its members’ assets and removes trust in one party using threshold signatures.
Think of it as a multi-signature community wallet. To improve on existing custody solutions, the project leverages Chaumian eCash, a form of privacy-preserving digital cash that represents claims to a community’s Bitcoin reserves. This allows transactions between community members to remain private and protects balances from being revealed to observers.
Before the advent of Bitcoin and blockchain, computer scientist Nick Szabo had identified the potential of using small organizations to secure financial transactions, an idea he called “Title Deed Insurance with Owner’s Authority“Recently, the concept of federations has been promoted by Blockstream’s implementation of liquid side chain.
Along with private, fast, and highly scalable payments, Fedi’s consensus system creates a versatile platform that can unlock a variety of use cases. With its high-performance infrastructure, the protocol allows participants to deploy standard “freedom tools” such as a chat interface that supports encrypted messaging, private groups, and social payments. Developers and third-party applications can use “Fedi Mods” to introduce new features to the platform and distribute them across its network of consortia.
“Tweaks are unique web apps that seamlessly integrate with Fedi and personalize your experience. They let you do things like charge your phone, save money with friends, and buy gift cards.”
Fedi is no longer just a simple wallet, but an operating system for the communities it supports, enabling them, often for the first time, to participate in the digital economy.
Among the notable features introduced during yesterday’s presentation were the ability to make offline payments and “stable balance” used to link users’ balances to their local currency.
Fedi app is available today on iOS And Appearance memoryCommunity leaders and organizations interested in building with Fedi are encouraged to: subscription For the program. There is a grant available to help federations develop.