Austin, TX (Feb 8, 2016) – Today, iSoftStone and Factom Inc. announced a Memorandum Of Understanding for the integration of iSoftStone’s smart city solution and Factom’s blockchain-as-a-service technology. Factom will offer business advice and technical knowledge as iSoftStone, a technology consulting firm, shapes its blockchain strategy for its smart city solution. As part of this solution, Factom’s Apollo Product will offer a data storage, auditing, and verification layer for several regions in China.
With the rapid urban development in China and other countries, corporations and governments around the world are focused on building new modern infrastructure to accommodate this growth. The push towards building “smart cities” creates an immense opportunity to use blockchains to secure the smart city infrastructure. Blockchain-based systems can provide greater transparency and accountability while cutting administrative and audit costs.
“By applying Factom blockchain technology to our financial services, smart cities big data services, and construction of data exchange, we will drive more innovation in China,” said Mr. Ye Yuping, Executive VP & CTO of iSoftStone. “By leveraging the advantages of both parties, we look forward to seeing a brighter future. We are sure that the integration of Factom and smart cities will bring more development opportunities for both sides.”
iSoftStone is a leader of smart city and industry Internet (Internet +) development, and a leading innovative technology services provider. The company focuses on two major businesses: smart business, and information technology services. In its smart business sector, iSoftStone has launched strategic planning for more than 80 smart cities around the country; in its IT services sector, the company has accumulated extensive experiences in more than ten industries, including telecommunication, banking, insurance, power utilities, transportation, manufacturing and retail, etc.
“We are excited to participate in such an innovative project with iSoftStone,” said Jack Lu, CTO of Factom Inc.“They are industry leaders that can help guide us in the fast moving Chinese market. With iSoftStone’s help, we get to build the framework that will underpin connected modern cities.”
iSoftStone is a technology consulting firm partnering with its clients to create innovative solutions that improve business performance and provide a sustainable, competitive advantage. Backed by proven processes, innovation, and a strong track record with companies that range from emerging startups to Fortune 100 companies, iSoftStone North America navigates clients through today’s challenges while helping them build for the future. The company’s employees work across offices in Seattle, Boston, New York, and Toronto, and a delivery center in Boise. Internationally, the iSoftStone network includes 22 offshore delivery centers across China and over 20,000 employees. For more information, visit www.isoftstone.com.
About Factom Inc.
Factom Inc. is at the forefront of pushing the blockchain revolution towards solving real-world business problems. Factom’s unique back-end infrastructure allows corporations, governments, and organizations to securely integrate, manage, and secure data — any type, any source, and at a massive scale. The result is a new generation of audit and accountability tools for a safer, more affordable way to handle secure and tamper-proof transactions. For more information, factom.wpengine.com.