Factom™ technology is leading the world in applying blockchain solutions to Enterprise, Government and Non-Profit systems. The Factom™ data layer provides active solutions for compliance, identity, transparent assets, and securities. With the Factom™ data layer, our solutions can sustainably scale and be customized to the needs of all sized businesses at a low cost. With the ability to anchor into a secure, decentralized network, your data has never be more secure.
Using Factom™ data-layer solutions will save your company time and money on auditing tasks that can keep your people from focusing on customers and big picture initiatives. Factom™ technology is also architected to integrate seamlessly with legacy systems so companies can apply a blockchain backend to secure almost any system.
Smart contracts need outside data to work. They need an "Oracle" to tell them what has happened. This information allows them to perform their "contract." Oracles, on the other hand, need a way to share this real world knowledge.
Factom Acolyte allows users to build Oracles for smart contracts and convey the questions that smart contracts pose.
How does Factom Acolyte work?
- A Questioner posts a Question entry to a watched Chain.
- One or more Oracles post a bid for the answer along with a payment method.
- The Questioner determines which Oracle to use and pays them.
- The paid Oracle posts a receipt for the answer
- The Oracle posts a reputation entry into the Questioner’s Identity Management chain
- The paid Oracle posts the Answer
- The Questioner enters a reputation entry into the Identities management chain. (This functionality will be built in the future.)
Thank You, we will be reaching out soon to provide you with more information on Factom Acolyte.
Who is talking about us?
"By decentralizing data through the blockchain, Factom avoids critical failures due to user error or hacker."
"The US Department of Homeland Security has awarded Factom $199,000 to advance the security of digital identity for IoT devices."
"Factom has partnered with the government of Honduras on a new land title registry initiative"
"Factom is to integrate its technology with Ancun Zhengxin's electronic data notarization services in China."
"Factom ... is working with technology consulting firm iSoftStone to shape a smart city strategy."
"Provider of a data layer solution described as a giant database in which anyone can insert data directly on the Blockchain."
"to clean up the Property Institute in Honduras have asked Factom to provide a prototype of a blockchain-based land registry. "
"using the blockchain to build a permanent and secure land title record in Honduras, where land-grabbing and corruption are rife."
"Factom is working with a Central American client to try to get their system for registering land titles into a Blockchain."
"[The blockchain] brings a level of auditing that’s based on mathematics and not based on trusting a third party."
"Factom ... can reduce the cost and complexity of audit trails, managing records, and complying with government regulations."
"Blockchains are like the internet – they’re owned by everybody and nobody."
"The issue of lost tax returns is one that the startup Factom is using to illustrate the potential of its business."