Factom Announcements Archive

By Crystal Wiese – Director of Marketing

March 25th, 2015

Vaultoro.com and Factom are collaborating to bring even more transparency to their Bitcoin / Gold trading exchange. By using Factom’s data layer for the blockchain, Vaultoro’s audit transparency strategy can eliminate the third party risk and centralization problems that plague the gold and Bitcoin exchange industry.

The Factom technology uses the same cryptography behind Bitcoin to mathematically prove the existence of any data it receives. Factom hashes that data and embeds anchors into the Bitcoin blockchain. Thus creating a provably time-stamped record keeping system capable of maintaining a near real-time, unforgeable audit trail of Vaultoro’s asset inventory reports, published by its custodian partners.

“We already strive to create the most transparent system in the gold exchange market. Factom gives us tools to set a new industry standard for any exchange.” Said Joshua Scigala, CEO and Co-founder of Vaultoro.com

Adopting Factom will allow Vaultoro to leapfrog the industry by embracing cryptographic proofs of their reserves and user transactions.

“Vaultoro has already created powerful tools for transparency and accountability beyond the scope of all other Bitcoin or gold exchange platforms. By using Factom, they also get to use powerful blockchain technology for their customers to validate and verify everything they do – in a trustless, decentralized environment.” Said Peter Kirby, President of Factom.

Customers are demanding transparency from Bitcoin exchanges faster than government can regulate it. Factom and Vaultoro are delivering a solution that does not need to wait for government regulation as they can now deliver absolute transparency using unbreakable and immutable math.

March 30th 2015

Today, ShapeShift and Factom are proud to announce two ways we are collaborating.

Firstly, Factom is recommending ShapeShift to enable participants in the Factoid Software Sale that need BTC to take part in the sale, to use ShapeShift as an easy way to get BTC for their other digital tokens.

Secondly, ShapeShift recently introduced a simple and secure way to exchange digital tokens and is announcing their plan to support Factoids in their system when the digital tokens are released after the Factoid software sale is complete May 15th. See more details on Factoids and the software sale here: https://koinify.com/#/project/FACTOM.

David Johnston, Chairman of the Factom Foundation said “We are excited that ShapeShift has chosen to support Factoids in their platform, as this will enable many users to leverage this new fundamental technology to build blockchain based applications.”

ShapeShift CEO, Erik Voorhees stated that, “Our team spent substantial time researching the technologies and protocols available to build scalable blockchain based applications and the conclusion we reached is that Factom had a solid approach and architecture for publishing and securing general data to the blockchain and so we decided to integrate their digital token into our platform.”

Blockchains Let Us Balance Transparency and Privacy

Factom is a blockchain technology that is innovating how organizations are managing and recording their data. Businesses and developers can use the simple Factom API to secure any data with the blockchain and make it safe, private, and tamper-proof. This is an incredibly powerful tool for transparency and accountability.

Because all the data managed by Factom is hashed (a process by which mathematical algorithms encode data into a different form), information such as names, addresses, transactions, and finances are encoded. Only the person who sent the information into the Factom layer knows the data it contained, the result is an indistinguishable string of alphanumeric characters. ShapeShift believes it is essential to keep user data privacy and this lead them to support the efforts of Factom by integrating Factoids.

Who is ShapeShift?

ShapeShift is a new piece of infrastructure in Bitcoinland. It is how digital currency exchange should work. From start to finish you can change digital currencies in seconds, with no account required. No emails or passwords. No lengthy sign­up process. No accounts. No bid and ask orders. No friction. ShapeShift’s goal is to be the fastest, safest, and most convenient way to swap digital currencies. See more at: ShapeShift.io.

Who is Factom?

Factom is a generalized data layer for the blockchain that allows users to publish and verify any kind of digital information. The Factom technology is especially compelling for those who want to build trust with users by providing complete transparency and real time audit ability of their systems of record, while at the same time maintaining user privacy. Blockchain based authenticity verification and auditing of document and offers significant value for any business process one wants to make honest and accountable. Check out examples and videos that explain how different companies can use this new platform: Factom.org.

April 17th, 2015

Today, Synereo and Factom are proud to announce a new partnership. Synereo will be integrating Factom’s time stamped immutable ledger into Synereo’s decentralized social network platform.

“This is a great opportunity to use Factom’s blockchain technology to build identity and reputation tools and explore new ways of looking at the attention economy. Synereo is building a fascinating smart social networking platform.” Peter Kirby, President of Factom, stated.

“Synereo’s social contracts will benefit greatly from Factom, allowing users on the network to establish global reputations of different kinds. Parties can publish contracts set up through Synereo to Factom, followed by their execution traces, and eventually update their global reputation scores upon the successful completion of the contract.” Said Dor Konforty, CEO of Synereo. “It is easy to imagine a time when a reputation built on this kind of mechanism is the only way to do business.”

Who is Synereo?

Synereo has completely distributed server software running on a user’s local machine that is capable of creating an Internet network without relying on any central entity. On it, Synereo is developing a fully decentralized and distributed, next-gen social platform. Synereo’s mission is to provide a global solution for decentralized communications and content distribution, also allowing applications to tap into its decentralized social graph. Synereo’s smart contract mechanism and attention economy principles provide content creators with unparalleled benefits, facilitating content distribution and monetization devoid of middlemen. Learn more at Synereo.com.

Who is Factom?

Factom is a immutable and time stamped data layer for the blockchain that allows users to publish and verify any kind of digital information. Factom technology is especially compelling for those who want to build trust with users by providing complete transparency and real time audit ability of their systems of record, while at the same time maintaining user privacy. Blockchain based authenticity verification and auditing of document and offers significant value for any business process one wants to make honest and accountable. Check out examples and videos that explain how different companies can use this new platform: Factom.org.

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