Soft Launch of Factom Genesis

By Nicola Minichiello – Communications

Tech Update Genesis Soft

Factom has reached their first milestone today. Factom Genesis, the beta version of their software. To celebrate the newest iteration of the their software, they have secured “The Universal Declaration of Human Rights” in 443 different translations to the bitcoin blockchain.

The bitcoin blockchain had limited capacity outside itself until Factom. They have created a platform that allows identity, sensitive corporate records, and much more to be “Factomized” into the blockchain for iron-clad security and unbreakable records.

Factom is the first technology that allows every corporation and government to piggyback off of the security of the blockchain. Identity, sensitive corporate records, titles and all the books in Gutenberg Library have already been Factomized using the Alpha version of their software.

A world with greater transparency and accountability is on our doorstep. Blockchain technology is changing every industry it touches and is the topic of discussion on the mind of executives and VCs everywhere.

This young, open source project has garnered attention from governments, VCs, and fortune 500’s that want to capitalize on bitcoin. Recently they were inducted into the fintech incubator at Plug and Play and are raising seed funding for their corporate branch, Factom Inc.

Plug and Play is a platform for innovation that connects forward-thinking corporations with startups that are influencing the financial industries. Factom was selected from around 1,000 fintech startup applications from across the world. As part of this program they will be have access to USAA, Citi Ventures, Capital One, Deutsche Bank, JCB, Banco Original, Intuit, Assurant.

Factom is at the forefront of blockchain revolution, shaping the future of blockchain technologies. It is the first technology to solve real-world business problems using Bitcoin. With a single anchor into the bitcoin blockchain, millions of records become secure in real-time. Once Factomized, information becomes impossible to modify, delete, or backdate. It is unhackable and unbreakable by design.

A future where corporations and governments secure their sensitive information and systems using Bitcoin is here. Ironically,  bitcoin was once the bane of their existence; now it stands to save them.

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