Tuesday, 24 July 2018, 11:30 HKT/SGT

NEW YORK, July 24, 2018 - (Media OutReach) - Internet of People (IoP) is a digital cooperative using blockchain and revolutionary peer-to-peer technology to help everyone connect and do business free from censorship or obstruction and without compromising their digital privacy.

The modern Internet has transformed all our lives, but rapid advancement has come with huge costs. "Move fast and break things" has been the driving motto of online tech development over the past decade.

Well, now things are broken.

We're on the brink of a data crisis. Companies harvest far more data than they need, store it insecurely, and then regularly sell and misuse it. Over-reaching governments force companies to hand over users' private information. Data breaches are a daily occurrence. And once your data and identity are out in the wild, there's no way to reclaim them.

Today's centralized model runs contrary to the original idea behind the Internet. It pretends to connect us but actually locks users away behind numerous barriers. The only way through is to pay, either with money or with data. And when things go wrong, it's the users who suffer while companies keep the profits.

Crypto was supposed to be the answer: eliminate the greedy middlemen and restore power to the users. But if anything the problem is worse: the lure of the ICO funding model has trumped the values which crypto was built on. Now projects pay lip service to decentralization while hiring old-world PR agencies, lawyers and "advisors" who do nothing but look good to whale investors only interested in making a quick profit.

But IoP is doing decentralization right: freedom, privacy and commitment to decentralization inform every part of our project, from the software we create to the way our organization is structured. We want to bring crypto to everyone, so we're building technology people actually need and providing educational resources to help them understand crypto and its benefits. We're collaborating with major universities to streamline their processes and add blockchain and crypto to the curriculum (and not just computing - crypto will be relevant to almost every modern discipline).

We're just putting the finishing touches to our alpha version of Mercury, a communications protocol and dApps platform that punches through all the modern corporate and government barriers to connect users in true peer-to-peer fashion. dApps on Mercury can provide all the services modern centralized companies provide, but users retain complete control over their data. Companies only get the data they need to provide their services, private data is encrypted while public data is signed and stored across a decentralized network maintained by peers, and wherever possible data never even leaves your device.

Our cryptocurrency, IOP, powers our own blockchain, which has been running stably for years. We currently run a slightly modified proof-of-work consensus which uses whitelisted addresses to avoid the ASIC trap and ensure all our global members get a chance to mine. This year we're presenting a brand-new consensus mechanism based on directed acyclic graphs (DAGs), byzantine fault tolerance and virtual voting to make things even more fair and efficient.

We've never needed an ICO, so IOP is only held by people who actively support our project's values. We're still growing, but every step brings us closer to creating a properly decentralized economy. People are paid in IOP, trade in IOP and Mercury dApps will be powered by IOP.

IoP is a digital cooperative, a decentralized global organizational structure designed to keep the efficient parts of corporate structure without the centralization. We have members from almost 40 countries and we're always looking for more. Why not join us and help make the crypto dream a reality?

Media contact:
Chen Peng
18610913014
1940583082@qq.com
Website: https://iop.global

Topic: Press release summary
Source: Internet of People (IoP)

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