Blockchain applications for enterprises

24th Mar 2017

Basic facts

Factom builds blockchain applications for enterprises. By Nov ´16 they are offering three solutions:
Apollo for real-time auditing and compliance
Iris: a digital identity platform (-> „distributed network of authority“)
Hera: private and permissioned blockchain solution built custom for enterprises

Why Blockchain?

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 and governments alike 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 integrity of stored data remains intact, providing complete transparency, while at the same time maintaining user privacy in an increasingly digital world.
Source: weusecoins.com

Factom expects to continue growing, and has separated its activities into two organisations:

  • Factom Inc, producing tools and app for data management in the block chain
  • Factom Foundation which pushes the open source side of Factom, offering the Factom protocol for anyone to use.

Factom does more than offer a new currency; it offers a new range uses of the blockchain concept. Hopefully, Factom will fulfill all the hopes that they and their fans in the blockchain community have set out. Source: investinblockchain.com


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