Message Factom20 Jan 2018 11:26
PART 1.... message via factom.... erm.... you may want to buy some ffwd ...soon. IMO....
During Factom's testnet presentation that occurred on 1/18/18 (today), the Factom team released an Update. Not only did Factom announce that they are eager to announce the names of some of their institutional clients in Q1/2018 (and I repeat - actual clients - not partnerships), but they also announced that along with IOTA, Factom was selected for the Tokyo Metropolitan Government's blockchain business camp Tokyo accelerator program which matches potential enterprise/financial clients with blockchain-based solutions in Japan. Because of the opportunities presented from the accelerator program to match potential enterprise clients to blockchain solutions, factom has decided to open an office in Tokyo in Q1/2018. Factom also has an office in China, as well, and is establishing itself as an international presence in the market for data security.
This news, in addition to Factom's assertions that they have brought on clients in the Fortune 1000 (with MOST discussion as of late being with Fortune 100 companies), shows just how much work Factom has put into the development and marketing of their solutions to enterprise clients. Just as an example, at the Annual Mortgage Bankers Conference, in October 2017, Factom was requested to meet, present, and demo their products 25 times in just two days.....25 times.
For those not familiar enough, Factom creates a decentralized data layer on top of the Bitcoin blockchain, and that data layer can house public chains or private chains. We live in the Information Age, and Factom aims to secure the world's data - making that data immutable and easily auditable. Factom does not store the actual documents; it is not a storage solution for data. Factom hashes the data so it is easily traceable, unchangeable, and trackable over time. Factom SECURES data - it does not store data. And this data security is wildly attractive to enterprise clients (institutional, governmental, financial). By Factomizing (securing) your data, you can prove that documents or even physical parts (such as in security cameras) have or have not been tampered with.
If I am a bank with millions of mortgages, and my mortgages are Factomized through Factom's champion product, Harmony, then I can easily run an internal audit to identify deficiencies or incomplete information, and in doing so, with comprehensive knowledge of the state of my mortgages, I can implement best practice solutions. Not only would I have an effective means of trusting the integrity of my data (through Factom), but I would also have the tools to comply with legal regulations such as Dodd Frank. So not only is my data secured, but I become more protected by lowering my risk.