Collaborating to Create New Blockchain Technology Tools.
London, UK – 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.