Factom Purposefully Twisted The Truth Regarding Deal With Honduran Government
The year 2015 has been great for Bitcoin and blockchain technology. In fact, some of the best real-world adoption use cases for blockchain technology came in the form of Factom securing a land registry deal with the government of Honduras. Or that is what everyone was led to believe at last, as it turns out the project is nowhere near being finished, nor is there an official deal between both parties as of right now. According to a recent document that appeared online, there seems to be some confusion regarding Factom’s deal with the Honduran government. Based on earlier reports –....
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Peter Kirby, CEO of Factom, posted a small blog update a few hours ago regarding the Honduras Title Project. In this post, it was mentioned how certain misconceptions regarding the project needed to be cleared up, such as the stalling of the project itself. Even though the team remains optimistic the deal with the Honduran government will come to fruition, it will not take place this year. As we mentioned in yesterday’s article, there were some incorrect statements circulating on the Internet regarding the current status of the Honduras Title Project and Factom. Certain factors regarding....
Decentralized recordkeeping startup Factom has reportedly partnered with the government of Honduras on a new land title registry initiative. Reuters reported that the Texas-based company, in partnership with title software firm Epigraph, was working with the Honduran government to develop "a permanent and secure land title record system" using the bitcoin blockchain, the distributed ledger that tracks all bitcoin transactions. Factom president Peter Kirby told the publication that discussions with the Honduran government began earlier this year. However, the company first hinted at a....
The Factom Foundation has launched its Release Candidate One (RC1) on the Bitcoin Testnet. Developers are invited to try out this early version of the highly anticipated blockchain data layer. In what is probably one of the most notable Bitcoin 2.0 projects in the space, Factom is building an open-source data layer for the Bitcoin blockchain. It can be used by anyone to permanently store all sorts of data on the decentralized computing network. Some of the most notable parties that have so far indicated they will use Factom include land registry startup Epigraph and the Honduran....
Marc Prosser is a freelance journalist who has been involved in many businesses as an executive, advisor and investor. In this article, he explores why blockchain technology could become the backbone of a new generation of government systems. Blockchain technology is frequently touted as the answer to inefficiencies in the financial sector, but it also has the potential to make a wider societal impact if implemented by governments. In May, it was revealed title software firm Epigraph and decentralized record keeping startup Factom were working with the Honduran government on a pilot....
One problem that has plagued governments for centuries is the rightful ownership of property. Revolution or displacement by war have been one cause of this problem, while bold-faced theft by government officials or gangsters has been another. One day you owned it, the next day you didn't. Honduras has faced this problem, especially with the advent of computerized records. According to the U. S. Embassy in Honduras: Honduran laws and practices regarding real estate differ substantially from those in the United States, and fraudulent deeds and titles are common. U. S. citizens considering....