Factom President: ‘Real Time Auditing of Govt Spending Will Bring a New Level of Accountability’
Factom is the first usable blockchain technology to solve real-world business problems by providing an unalterable record-keeping system. By creating a data layer on top of the Bitcoin blockchain, Factom’s distributed ledger technology secures millions of real-time records in the blockchain with a single hash using cryptographic isolation. Businesses, governments and any other organization that relies on secure data can use Factom to document their information so that it cannot be modified, deleted or backdated. Factom’s technology decentralizes record keeping by ensuring that the....
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London, UK March 10th, 2015. Today, Serica and Factom jointly announced a collaboration wherein Serica will leverage the Factom technology to enhance their transparency & auditing strategy, and the Factom Foundation will use Serica as an important part of its asset allocation model. Serica Proof of Audit. Serica uses Factom for global custodian auditing. Serica's token transaction transparency strategy focuses on eliminating trust through cryptography. The Factom technology uses the same cryptography behind Bitcoin to mathematically prove the existence of any data it receives by hashing....
Factom is perhaps the most anticipated project in the cryptocurrency ecosystem for 2015. Factom promises to introduce new blockchain based software that will bring developers the tools to build a new generation of applications using the blockchain technology while making it available to every type of organization. Factom introduced the first functional blockchain technology that provides an unalterable and safe record-keeping system. By using another data layer on top of the Bitcoin blockchain, the Factom protocol can secure millions of real-time records in the blockchain with a single....
With an eye to the future, China’s government is working with Factom, a blockchain based record verification and auditing infrastructure company along with consulting firm iSoftStone to plan blockchain based administration projects for smart cities. The plan will include strategies for storage, auditing and verification services. Named after the Factom brand, Factoids, a token value, are issues and transferred among users who purchase entry credits and record entries. Factom servers will create entry blocks and directory blocks. The hashing of directory blocks is secured onto the....
Last week The Factom Foundation released its latest project development news update. Factom is this year's most awaited project in the cryptocurrency space. The concept behind Factom is a very innovative one since it enables company's to use the technology without ever owning cryptocurrency. Factom is a distributed, decentralized protocol running on top of Bitcoin. The software is open source, and anyone is free to use it for any purpose. The Factom network gives developers the tools to build a new generation of applications that use blockchain technology. Factom uses a data layer on top....
Factom is a data layer for the blockchain that allows users to permanently secure documents and even whole business processes. The Factom technology is especially compelling for those who want to build trust with users by providing complete transparency and real-time auditing of their systems, while at the same time maintaining user privacy. The blockchain technology is a viable solution for record keeping. It represents a permanent and secure database for recording keeping secured by thousands and thousands of computers distributed around the world. This technology enables us to record....