Description
Factom is a decentralized platform aimed at delivering high-grade data security and integrity by utilizing blockchain technology for enterprise-scale record-keeping. Designed to cater to industries such as mortgage banking, legal, insurance, and government, Factom's protocol allows for the creation of customized records and document management systems. Its innovative approach ensures that data, once recorded on its immutable ledger, is verifiable, auditable, and unalterable, offering a single source of truth. The platform notably employs a dual-token system, consisting of Factoids (FCT) and Entry Credits (EC), to decouple data entry costs from the fluctuating crypto markets, thus providing a stable and predictable pricing model for users. Additionally, Factom's technology supports the use of smart contracts, digital assets, and ensures database integrity, making it an essential tool for businesses seeking blockchain-based solutions for transparent and immutable record management.
Factom is a decentralized platform aimed at delivering high-grade data security and integrity by utilizing blockchain technology for enterprise-scale record-keeping. Designed to cater to industries such as mortgage banking, legal, insurance, and government, Factom's protocol allows for the creation of customized records and document management systems. Its innovative approach ensures that data, once recorded on its immutable ledger, is verifiable, auditable, and unalterable, offering a single source of truth. The platform notably employs a dual-token system, consisting of Factoids (FCT) and Entry Credits (EC), to decouple data entry costs from the fluctuating crypto markets, thus providing a stable and predictable pricing model for users. Additionally, Factom's technology supports the use of smart contracts, digital assets, and ensures database integrity, making it an essential tool for businesses seeking blockchain-based solutions for transparent and immutable record management.
