Factom uses the blockchain technology of Bitcoin to revolutionize the data management and data recording methods of the commercial society and government departments. Use blockchain technology to help the development of various applications, including auditing systems, medical information records, supply chain management, voting systems, property deeds, legal applications, financial systems, etc. Developers on the Gongzhentong platform can create new applications and store data on the blockchain without being subject to various restrictions on directly writing data into the Bitcoin blockchain: such as the speed of writing data, cost , size and other restrictions. NotaryPass is revolutionizing the way the entire world records data, and uses Bitcoin blockchain technology to protect your data security.

1. Project background

Factom, Inc. is a blockchain innovation company. Founded in 2014, the founders recognized the limitations of Bitcoin as a practical blockchain for enterprise data solutions. Often, the records, information and documents that are distributed are difficult to secure, difficult to synchronize and not really verifiable due to the manual work involved. To address these challenges, we built the Factom blockchain as open source and fully decentralized in May 2018. We continue to support its development and be active contributors and community members.
In 2017, we raised over $8 million in Series A funding led by Tim Draper of Draper Associates. The series funding includes a number of value investors such as Medici Ventures (a wholly owned subsidiary of Overstock.com, Inc.), Peeli Ventures and Harvest Equity. Using our Series A funding, we built Factom Harmony, our blockchain-as-a-service platform. Factom Harmony provides you with a full suite of REST APIs and managed services to build Factom Blockchain functionality into your applications, systems and processes.
We provide a blockchain-as-a-service platform for data provenance and integrity solutions based on the Factom blockchain. We help our clients and partners build business-ready applications that preserve evidence, demonstrate compliance, increase process transparency, simplify audits, reduce costs and automate transactions. All without cryptocurrency risk or expensive infrastructure.
(Project background information comes from: https://www.factom.com/company/about-us/)

2. Project application

1. Mortgage industry
Factom Harmony leverages the power of Factom blockchain, combined with SmartProvenance™ to ensure the validity, integrity, and history of documents, data, files, and database information and ownership. Factom's unique model for developing a single data link mirrors existing recordkeeping models. This ensures compliance with all government and industry regulations.

2. Internet of Things
As more and more projects are enabled through IoT connectivity, securing and securing IoT data is critical. Creating an identity log on the Factom blockchain provides data assurance, including: preventing spoofing, eliminating traditional relayer attacks, and confirming data integrity.

These identity logs capture the identity of the device, the manufacturer of the device, a list of available updates, known security issues and authorized authorities, while adding a time stamp for added security.

3. Medical records
In developing countries, treating diseases in a turbulent environment poses serious problems for patients. The system was unreliable and patients had little medical history. Recording a patient's medical information on a blockchain ensures complete third-party accuracy in the absence of often untrusted or incorrect government systems and records.

Creating medical identities around individuals and securing them using the Factom blockchain solves trust and accuracy issues in an affordable and practical way, with unique benefits for developing countries.

Related link:
https://www.factom.com/