Foundations of Blockchain

Factom

Factom provides asset management with a precise, verifiable, and immutable audit trail, and eliminates the need for trust. Record management poses the difficult problem of protecting, synchronizing, and verifying record information. Many traditional methods still require some manual effort, which makes it more difficult to scale and to achieve accuracy.

Factom proposes a solution to the asset management problem of securing an individual's or an organization's data by publishing the encrypted data, or a fingerprint of the data, to a distributed ledger. Factom also allows users to audit and verify the data published on the blockchain. Factom achieves this by running a distributed protocol that runs on top of the Bitcoin blockchain.