Factom Q&A15 May 2019 08:17
I reached out to Carl DiClementi, Director of Product Management at Factom Inc to talk enterprise and the Factom Protocol.
Q. In your opinion what are the three most important aspects of the Factom protocol that make it a superior choice for enterprise use?
A.
i) Publicly verifiable - A vital aspect of the Factom protocol is that all data written to the blockchain is independently verifiable. This is a strong selling point that many of our customers value over competitors that do not have a decentralized network and focus on private blockchains.
ii) Two token system - We all know about the volatility of the cryptocurrency market. Enterprises require clear budgeting and forecastable costs, so this list must include the two token system, as it results in fixed USD costs per write.
iii) Data layer - There's elegance in simplicity. While other blockchains focus on on-chain code execution and other complex computations, the Factom Protocol's simple data layer design is the groundwork for greater scalability, performance, and countless use cases.
iv) Honorable mention: chain of chains architecture
Q. Are you getting any traction with enterprise?
A. Absolutely. At Factom Inc we continue to make progress with organizations large and small. Harmony Connect has caught the interest of developers from around the world, and we have several enterprises engaged with us on Harmony Integrate implementations.
Q. What would you say is the most exciting thing happening in the Factom Protocol ecosystem right now?
A. There's so much! Identities (DID) and tokenization (FAT) are two incredible projects, but most of all, I would have to say that the progress being made on the decentralization of development has me most excited. Decentralizing the management of authority nodes was a major step for the Factom Protocol and the overall ecosystem, but if we look back in 5 years I think we'll see that the decentralization of development was the catalyst that propelled the Factom Protocol forward. It won't be easy, it will definitely be hard, but it's the last hurdle left for full decentralization.
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