Factom – FCT – What’s new?

Yo guys,

It has been quite calm in here lately, and same goes for Factom. Well, it seems so. The last month was quite depressing in term of price growth. We went from a nice 0.0075 satoshi end of August to a mere 0.0040. I have to admit that’s quite a loss.

Here is a little update on what happened on the Factom project, at least what was revealed!

  • Encryption of the Entreprise wallet

Until now the Enterprise Wallet – the officiel GUI Wallet from where FCT conversion into EC is possible – was not encrypted and thus the private key stayed exposed. It is not the case anymore.

  • Exodus – EDEN support

Exodus, the multi cryptocurrencies wallet, has released the beta of its new version called EDEN. Exodus now fully supports FCT transactions. Be careful though, it is still a beta. The release of FCT on Exodus has been postponed a couple of times in the past as the factom network used to stall once every month due to the original design of its block chain.

  • PHP & Kdb+ third party libraries

Using Factom API, the community has developed two useful libraries for Factom. One is in PHP and the other for Kdb+.

The PHP library puts at every website developers’s reach the Factom functionality, getting the internet one step closer to the honesty it deserves. Having this module activated could allow to factomize any content present on a website supporting PHP, to be used as a future proof that data were not compromised or simply modified.

The Kdb+ library is also very interesting even if the language is not known by the average Joe. Kdb+ is used by financial institutions as it handles large amount of data in a very efficient way. Here are some details about who exactly uses Kdb+. Folks, ain’t you aroused?

  • Smartrac & Linxens – dLoc and much more

Smartrac sold to Linxens – the parent company – the Secure ID & Transactions Business which includes dLoc, a technology using both RFID stickers and the Factom protocol to secure data. The cool thing we discovered only recently is that Linxens works on e-government projects. These projects aim at bringing governments data to a higher level of security, by either making data digital or to provide a new layer of protection. It can be applied to both administrative documents and e-passports. Linxens is a Dutch company, and witnessing this country open-mindedness toward the block chain technology it would be a safe bet that these innovations brought by Linxens and Smartrac won’t wait long before they are implemented and used.

  • Factom – Prize Winner – Project in China

Best for the end, Factom was part of a block chain competition in China, held by WanXiang, the Global Blockchain Summit, and won in their own category. In addition to a cash prize, they were also selected for a few things.


It says:

Note I was asked about China and our winning the contest at the Global Blockchain Summit. Accidentally deleted the question… Sorry!

Here was my response though!

I can say what was said at the conference. Factom was selected for improving land and property titles. The project is well funded, and we have staff working in China. We are actively accommodating a number of sectors and applications within Harmony.

I can’t sayuch about timelines, but I can say working with China and Japan (with Kaula, who also won a spot in the contest) has me very excited.

A project in China, well founded, with people already ready to work on it, improving a vital part of a country’s economy: how property titles are secured. Nice. Harmony is the current Factom ready-to-use project about mortgages management. It is highly likely that this project will be revisited as a global plateforme to manage the life cycle of any type of documents, and thus could be used by a very broad panel of industries.

And icing, or cherry if you prefer, on the cake, Tiana Laurence, CMO of Factom, confirms that Factom has several top 500 fortune companies as clients.

To summarize, a broader FCT transaction support (wallets), new integration tools (libraries) and industries (Linxens, Harmony, China), some big clients (Tiana’s call) and a proof of factom work quality (prize)!

I let you draw your own conclusion. In the meantime, feel free to read my previous articles to get the big picture.



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