SEATTLE, Dec. 15, 2022 /PRNewswire/ — The Fenomy System team, in collaboration with project partners and investors, is establishing the Fenomy Foundation – an international organization.
The Fenomy Foundation’s main objectives are as follows:
– further growth of the Fenomy System and system partner projects
– management of ecosystem component development
– promoting the Fenomy System among people around the globe for real-world application.
– partnership development with industry specific organizations
The Fenomy Foundation’s founders will consist of team members, partners, and key investors in the early stages of development. Thereafter, any interested individual or organization will be able to join the Fenomy Foundation. The Fenomy Foundation shall own all of the Fenomy System project’s property, assets, technology, and intellectual property rights. The Fenomy Foundation participants will annually hold election of the organization’s Board of Directors, as well as make all strategic decisions on project development and fund distribution. To ensure complete transparency, the Foundation will publish financial statements quarterly.
The Fenomy System team began work on the project in early 2020 as a self funded project with the help of private investors. The first two years were spent in closed development, followed by open testing. Fenomy allows creating of tools that ensure personal and family safety, particularly in life-threatening situations. The Fenomy platform can be used to create a wide range of tools, from household to commercial, coordinate interaction between groups of people on-site, members creating, assigning, distributing and completing tasks business process management, financial instruments, and much more. Using the concept of personal loyalty, Fenomy provides a unique algorithm for forming loyal ties and circles among system users.
– Anonymity. Personal information such as a participant’s name, email address, or phone number are not required. There is no need for direct contact between participants
– Autonomy. The technology will be able to function in private networks that do not have Internet access. The system is not dependent on smart devices.
– Trust and loyalty. The system uses a novel concept to form loyalty circles among system participants while maintaining anonymity. The reputation of members and groups is an important component of the ecosystem.
– Dependability and security are essential. Decentralization. All operations are verified using a secure Blockchain that is proprietary to the company. In most cases, the principle of transferring instructions rather than data is employed.
– Self-sufficiency. The system is self-sufficient at the participant and circle levels, regardless of the total number of participants.
The Fenomy System project has successfully completed the first year of public ecosystem testing. During this time, the project community has grown to 20,000 participants, and new tools and capabilities have been developed, including:
– The “Reputation” tool, which can be made public on third-party platforms to increase trust between anonymous participants.
– The “People’s Dispatch” tool, which allows you to organize communities to assist strangers in need.
– Phase 3 of Fenomy Blockchain testing for secure system operations.
Other critical ecosystem components will be developed soon, significantly expanding the possibilities for using Fenomy for safety in natural settings and during public events. The Fenomy ecosystem is being developed as an open non-commercial product with no restrictions or requirements.
All constituent information of the Fenomy Foundation will be available on the official website. If you are interested in finding out more about this project, want to help with testing or try it out for yourself, we encourage you to visit the website or contact the team directly.
SOURCE Fenomy System