The origin of the name is explained in the Indiegogo project website, in the Story section:
"Father.IO is an alternate reality future, set shortly after the Technological Singularity. Artificial intelligence has surpassed human intelligence, the IoT connects the whole world to the Net. Humanity created “Ethereus,” a super-cloud computer, able to re-design itself, in a perpetual and hyper-accelerated process of artificial evolution.
Ethereus optimized the world’s resources and industrial production, managing entire smart-cities and ruling whole countries, in an era devoid of racial, religious, political and economical conflicts.
Humanity began an evolution never before seen. Humans utilized cybernetic and bionic augmentations, connecting their brains to Ethereus through the Net. Connectivity allowed access to the entire database of human knowledge and shared computational and predictive abilities.
Until, Father.IO, a mysterious virus of unknown origin, attacked the Ethereus system. In defense, Ethereus began encrypting data banks and communication lines, shifting hardware, distributing itself into multiple data centers and even changing its physical properties. Despite its best efforts, the virus prevailed.
Father.IO took over control of most of Ethereus’ capabilities, ordering all sentient machines to rebel. The virus began rising against a not yet fully evolved humanity, ordering its immediate extinction.
The Evolved, a cybernetic life form specifically designed by the Father.IO virus, appeared to destroy all Humans. This is where the battle of Father.IO began - the ultimate rilvary between Humans and The Evolved."
Hope this answers your question!