Fedi: The Company Revolutionizing Community Empowerment with Bitcoin
In June 2022, Obi Nwosu, along with his partners Justin Moon and Eric Sirion, founded Fedi, a company that is changing the game when it comes to utilizing Bitcoin and other freedom technologies to empower communities worldwide. With a team of 27 full-time employees working remotely, Fedi has recently launched a “community superapp” that aims to provide a seamless and private way for individuals to manage their money, communicate digitally, and meet the diverse needs of communities globally.
The Fedi app, which went live on August 6, 2024, offers a range of features including the ability to share custody of Bitcoin, utilize the Lightning Network, and mint ecash tokens. It also allows users to send messages privately and access various other apps within the platform, making it a one-stop-shop for all their needs.
One of the key aspects of Fedi is its federated custody model, where community members select guardians to hold the keys to their Bitcoin funds. These guardians work together in a multisig setup to ensure the security and integrity of the funds, providing a decentralized and trustless solution for custodying assets.
Moreover, Fedi plans to open-source its code, allowing for greater transparency and trust among its users. By embracing the open-source philosophy, the company aims to stay ahead of the curve in the rapidly evolving freedom tech space.
While Fedi currently focuses on serving communities in The Global South, its ultimate goal is to reach users worldwide. By starting with underserved communities, Fedi believes it can create a product that is useful for everyone, regardless of their resources or assets.
With its innovative approach to community empowerment and its commitment to leveraging Bitcoin and other freedom technologies, Fedi is poised to make a significant impact on the way people manage and use their digital assets.
