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Alternate cryptocurrencies => Announcements (Altcoins) => Topic started by: Admin on March 04, 2016, 12:18:40 AM

Title: [ANN] FACTOM - Introducing Honesty to Record-Keeping
Post by: Admin on March 04, 2016, 12:18:40 AM
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Factom is a system for securing millions of realtime records in the blockchain with a single hash.
This gives you the tools to build applications with all of the security of the blockchain without the speed, cost, or size limitations.
Our goal is to involve the Bitcoin and Crypto community to engage with us, look at our work, and collaborate with developers across the industry
and beyond.

Factom is a next generation platform for creating enterprise tools and applications using Blockchain technology.
Factom allows you to build applications on top of the Bitcoin blockchain. Factom uses a simple API that lets you build projects that were not possible  
before while still harnessing the trust and security of the Blockchain.

Factom is a solution to:

  • Blockchain bloat
  • Off chain transactions
  • Use cases and project ideas for hashing data into the blockchain

In a nutshell, what is Factom?
Factom is a system to record entries in a way that makes the list unique (everyone gets the same copy) and allows anyone to add to the list, but does
not allow anyone to change entries once they are in the list.

As a designer of business applications, why should I consider using Factom?
Factom is a method of creating an immutable audit trail. It is also a mechanism to communicate changes in a system. If your application needs a
central server to coordinate processes, you might be able to eliminate the central server in favor of using Factom.

Does Factom use a cryptocurrency?
Yes. You can use Factoids (the Factom currency) to purchase Entry Credits with a simple transaction. The protocol does the conversion, so you
effectively purchase the Entry Credits from the protocol. You assign those Entry Credits to a public key.

Who controls Factom?
Factom is a distributed, decentralized protocol running on top of Bitcoin. That means nobody controls it, but that it is software that people all over
the world run to make the protocol work. is releasing and maintaining the software. But the software is open source, and anyone is free to use it for any purpose.

With Factom is really possible to build safer and more secure record keeping on a truly global scale.
There are three types of proof that allow Factom to do that:

  • Proof of Existence: a document existed in this form at a certain time.
  • Proof of Process: a document existed and is linked to this new updated document.
  • Proof of Audit: an updated document can be verified to have changed according to a set of rules.

Docs & Demos

  • WhitePaper (
  • Consensus Mechanism Paper Draft (
  • Wiki (
  • FAQ (
  • Alpha API release (v0.0.2) (
  • Factom Explorer (

Partners & Collaborations

Announcement ( - Video (
Announcement ( - Video (
Announcement ( - Video (
Announcement ( - Video (
Announcement ( - Video (
Announcement (
Announcement (
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Announcement (
Announcement (
Announcement (

Factom: A Data Layer for the Blockchain

Trust is a rare commodity in today’s global economy. Yet we must trust various parties to participate in this increasingly computerized marketplace.
Until recently, electronic records have been particularly hard to protect, challenging to synchronize and difficult to verify, largely because computer
records are so easy to change. We use heavy regulation to try and minimize failures, and massive insurance systems to pave over the failures that
none the less occur.

Then Bitcoin introduced the blockchain. A blockchain is a distributed mechanism to lock in data, making it immutable, verifiable and independently
auditable. The Bitcoin blockchain was used to create a secure digital currency and payment system.    

But think of the benefits if you could also use the blockchain to secure and verify general purpose data!

Using Factom, you can.

“Bitcoin is used to transfer value between parties. With Factom
we can use this powerful ledger to secure general purpose data.”

Factom is most easily understood as a protocol that provides unlimited books of blank paper. Users of the protocol can take a book, label it with
the title of their choice, open the book, and write on a page. When that page is submitted to Factom it cannot be altered or deleted. Nobody can
back-date a page. All the data written into the book is preserved in the order it was presented to the Factom protocol.

“Factom does practically nothing. But by limiting itself to simply
recording and securing data, Factom enables practically anything.”

Factom was designed to scale. Just like you can go into a library and select only the books that interest you, Factom allows users of the protocol
to select only the books of interest to their application. Users do not have to download and process the whole library.

And again, Factom is like a library. A library can support the documentation of any information at all, from fiction and romance novels, to scientific
journals and history books. Factom can also support any application at all that needs to document the past.


All decisions are made based on data. To defend a decision, proof is needed of the data on which a decision is based.

Factom becomes the technology applications can use to validate and verify the creative process of producing art, music, and literature. It becomes the
technology that allows tracking of licensing of creative works. Factom can even be used to track their use.

Factom becomes the technology to secure land titles. And it does so in a way that ensures the records belong to the people. The records cannot be
changed or altered without in fact adding such changes to the book. This ensures a permanent record if fraud occurs.


It is said that the winners write the history books. But Factom provides the seed for a technology that does not allow for the selective recording of
the past, editing of the past, or inventing the past. Factom provides the means of creating records honestly and securely.

The Factom Alpha API is available today, and many developers are beginning to work with it. Open source, cryptocurrencies, and distributed
applications are changing the world. This is just the beginning of their ultimate applications.

The most exciting days are still ahead!

by Paul Snow - Founder & CEO, Factom

Official Videos and Use Cases

What is Factom? (

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    How Does Factom Blockchain Technology Work? (

     ( (

Saving BoA $17 Billion (

( (

     Unlocking $9 Trillion in Land Value (

     ( (

Protecting Sony Pictures with Blockchain Technology (

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     Factom Transforms KYC and Keeps Private Data Private (

     ( (

Interviews & Related Videos

Let’s Talk Bitcoin - October 27, 2014
The Bitcoin Game #2 - Factom (

Epicenter Bitcoin - November 9, 2014
EB52 – Paul Snow & Peter Kirby: Factom, Proof of Existance, Proof of Process, Proof of Audit (

Money2020 - November 12, 2014
Tatiana Interviews Paul Snow from (

Decentral Vancouver - November 13, 2014
Salon Talks w/ Peter from Factom and Andrew Wagner of Bitcoin Magazine #BlockchainBloat (  

Bit n Mortar - November 18, 2014
Factom interview - Solves the Bitcoin speed problem / Proof of audit (

Phil Maher and Paul Snow - December 4, 2014
Factom Live Hangout - 12/4/14 - Denver Bitcoin Center (

Ed Eykholt and Peter Kirby - December 11, 2014
Factom Presentation at the Seattle Bitcoin Meetup (

Ernest Hancock and Paul Snow - December 30, 2014
Freedom's Phoenix: Paul Snow Interviewed by Ernest Hancock ( - January 17, 2015
TNABC 2015 - PAUL SNOW COFOUNDER FACTOM Innovating the Blockchain (

MadBitcoins - January 23, 2015
MadBitcoins interviews Paul Snow from Factom #BitcoinMiami2015 (

Chris DeRose - January 25, 2015
What is Factom? An interview with Paul Snow (

Coin Republic - February 2, 2015
Blockchain based document proof system Factom, at the Bitcoin Singapore Meetup in Hackerspace (

World Crypto Network - February 3, 2015
"Honesty is Subversive" - Interview with Paul Snow from Factom (

Decentral Vancouver - February 21, 2015
Salon Talks: COINFEST 2015: Vanbex Edition! Synereo, Factom, Trustatom, Etherparty, Opalcoin (

Bruce Fenton - February 25, 2015
Paul Snow explains Factom at the Dubai Bitcoin Conference (

Bruce Fenton - February 25, 2015
David Johnston Bitcoin and history and the future of the blockchain (

Factom Hangout - March 9, 2015
Tether + Factom Collaboration Announcement  (

Factom Hangout - March 10, 2015
Serica + Factom Collaboration Announcement (

Factom Hangout - March 10, 2015
Factom Talk With D.C. Bitcoin Meetup (

World Bitcoin Network - March 10, 2015
Bitcoin 101 - A Million Killer Apps - Part 2 - Blockchains & A Global Shared History (

Factom Hangout - March 11, 2015
Coinapult + Factom Collaboration Announcement (

Factom Hangout - March 12, 2015
Tradle + Factom Collaboration Announcement ( - March 13, 2015
Inside Bitcoins Berlin 2015 - Day 1 - Peter Kirby (

Factom Hangout - March 24, 2015
Texas Bitcoin Conference Hackhaton Developer Q&A (

Factom in the News

The Wall Street Journal - November 5, 2014
BitBeat: Factom Touts Blockchain Tool for Keeping Record-Keepers Honest (

Bitcoin Magazine - November 6, 2014
Ensuring Network Scalability: How to Fight Blockchain Bloat (

Omni Foundation Blog - November 9, 2014

CoinTelegraph - November 13, 2014
This is How Factom Can Solve Blockchain’s Bloat AND Scalability Issues (

CryptoCoins News - November 17, 2014

CoinDesk - November 18, 2014
Decentralised Apps Promise New Way of Doing Business Online (

CoinDesk - November 19, 2014
Factom Outlines Record-Keeping Network That Utilises Bitcoin's Blockchain (

Brave New Coin - December 19, 2014
Factom: Digital Fingerprints Tackling Banking Fraud (

CryptoCoins News - December 21, 2014

TechCrunch - December 26, 2014
Bitcoin 2.0 And Tokenizing The User Experience (

AllCoins News - January 3, 2015
Q&A With Factom’s Peter Kirby – Scaling Blockchain Tech for Robust Applications (

CoinDesk - January, 3 2015
Crypto 2.0 in 2015: Turning Bitcoin Theory Into Big Business (

CoinDesk - January 4, 2015
19 Crypto 2.0 Projects to Watch in 2015 (

Inside Bitcoins - January 5, 2015
Bitcoin 2.0: One World, One Cryptocurrency Is ‘Unrealistic And Counter Productive’ (

Inside Bitcoins - January 9, 2015
How Blockchain Technology Could Revolutionize the $1.1 Trillion Insurance Industry (

Crypto Articles - January 11, 2015
Coin Proz co-founder Tim Frost: 2015 can be the defining year for Bitcoin (

FuzzieLabs - January 13, 2015
Blockchain: The real gold behind Bitcoin (

CryptoBiz Magazine - January 2015 Issue
Factom (

CoinDesk - January 18, 2015
TNABC Day 1: Bitcoin Industry Undeterred Despite Price Decline (

O'Reilly Radar - January 21, 2015
The 3Ps of the blockchain: platforms, programs and protocols (

CoinsSource - January 31, 2015
Blockchain Brings the Internet of Things (

Financial Times - February 3, 2015
Bitcoin: possible bane of the diamond thief (

CoinDesk - February 15, 2015
Factom is Serious About Stopping Smart Dishwasher Fights (

WSJ MoneyBeat - February 19, 2015
BitBeat: Dell Takes Bitcoin Into Canada, the U.K. (

NewsBTC - February 26, 2015
Bitcoins and Factoids: a Symbiotic Relationship (

NewsBTC - March 3, 2015
EXCLUSIVE: Interview with Peter Kirby, Factom President (

Bitcoin Magazine - March 9, 2015
Tether + Factom Announce Collaboration ( - March 9, 2015
Factom And Tether Announce Partnership (

Bitcoin Magazine - March 10, 2015
Serica + Factom Announce Collaboration (

BTCFeed - March 11, 2015
Factom, Build Applications On The Blockchain ( - March 13, 2015
Tradle and Factom: Delivering Blockchain Economies Of Scale (

CoinReport - March 14, 2015
Factom, Tether collaborate on wallet transparency, hedging plan ( - March 15, 2015
[VIDEO] Factom Partners With Coinapult As It Preps Software Sale (

CoinDesk - March 16, 2015
Factom Announces Launch Date for Token Crowdsale (

Business Insider - March 23, 2015
The 25 most exciting bitcoin startups (

Brave New Coin - March 25, 2015
Factom and Coinapult Partner For Token Sale (

AllCoins News - March 26, 2015
Vaultoro, Factom Partner to Offer More Gold Market Transparency ( - March 26, 2015
Factoids: The Tokens that Drive the Factom Protocol (

Get in Touch

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Title: Re: [ANN] FACTOM - Introducing Honesty to Record-Keeping
Post by: Admin on May 19, 2017, 03:49:23 AM
lol, really wish I would have invested more in this coin.  ::)