Factom Partners With iSoftStone For Chinese Smart Cities Strategy
Factom is a blockchain-based platform looking to wield the power of distributed ledger technology for purposes other than financial services. Their bread and butter revolves around record verification and auditing existing infrastructure. In the end, more transparent solutions are created, which will also cut down on overhead costs. Their recent partnership with iSoftStone will see the introduction of the blockchain verification for Chinese smart cities. The concept of creating smart cities has been a hot topic for many years now, as it proposes a mix of new technology and innovation with....
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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....
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....
Blockchain-based data management solution Factom is set to integrate its technology with Ancun Zhengxin's electronic data notarization services in China, International Business Times reports. Earlier in February, Factom signed a deal with technology consulting firm iSoftStone to collaborate on a “smart cities” initiative for several regions in China. Factom says it wants to apply blockchain technology to solving real-world business problems. According to the company, Factom’s back-end infrastructure allows corporations, governments and organizations to securely integrate, manage and secure....
HONG KONG and London, UK March 9th, 2015. Today, Tether and Factom jointly announced a partnership wherein Tether will leverage the Factom technology to enhance their transparency and audit strategy, and the Factom Foundation will use Tether as an important part of its asset allocation strategy. Tether.to Wallet Transparency. Tether.to uses Factom for time-stamping and replication of its wallet database. Tether.to's wallet transparency strategy focuses on eliminating trust through decentralization and cryptography. The Factom technology uses the same cryptography behind Bitcoin to....
Technology is evolving at an accelerated pace, and the opportunities for improving nearly all aspects of everyday life are endless. So many different parts of society can be improved upon by embracing these technological innovations, including the way we deal with resources. This concept in the FinTech space is called smart cities, and some interesting ideas are being tossed around. The term smart cities applies to much more than having intelligent people in charge of handling everyday operations. In fact, according to some industry experts, having a handful of people in charge of cities....