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43 lines
4.2 KiB
Markdown
43 lines
4.2 KiB
Markdown
---
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date: 2020-11-02
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title: Factom Inc.
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description:
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excerpt: >
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Established in 2014, the founders recognized bitcoin’s limitations to be a practical blockchain for Enterprise data solutions. Generally, distributed records, information and documents have been difficult to protect, challenging to synchronize, and impossible to truly verify because of the manual effort involved. In response to these challenges, we built the Factom blockchain as open source, reaching full decentralization in May 2018.
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layout: single
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permalink: companies/factom/
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canonical_url: 'https://decentralized-id.com/companies/factom/'
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categories: ["Blockchain"]
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tags: ["Factom","DID","DHS","Blockchain"]
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toc_sticky: false
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toc: false
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header:
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image: /images/factom_header.webp
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teaser: /images/factom-teaser.webp
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last_modified_at: 2020-11-02
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---
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* [Factom - About](https://www.factom.com/company/about-us/)
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> We provide a Blockchain-as-a-Service platform for data provenance and integrity solutions built on the Factom blockchain. We help our customers and partners build business-ready apps that preserve evidence, demonstrate compliance, increase process transparency, streamline audits, reduce cost, and automate transactions. All without cryptocurrency exposure or costly infrastructure.
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<blockquote class="twitter-tweet"><p lang="en" dir="ltr">What's next:<br>◻️ Mobile app bringing <a href="https://twitter.com/hashtag/verifiablecredentials?src=hash&ref_src=twsrc%5Etfw">#verifiablecredentials</a> to your pocket (in partnership with <a href="https://twitter.com/Off_Blocks?ref_src=twsrc%5Etfw">@Off_Blocks</a> )<br>◻️ Verifiable organizations<br>◻️ Guardianship, delegation, & controllership credentials<br>◻️ Extended <a href="https://twitter.com/hashtag/interoperability?src=hash&ref_src=twsrc%5Etfw">#interoperability</a> w/ <a href="https://twitter.com/TransmuteNews?ref_src=twsrc%5Etfw">@TransmuteNews</a> and <a href="https://twitter.com/Mavennet_?ref_src=twsrc%5Etfw">@Mavennet_</a> <br><br>Stay tuned 📻</p>— Factom Inc. (@factom) <a href="https://twitter.com/factom/status/1219276914281648133?ref_src=twsrc%5Etfw">January 20, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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## History
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* [Factom - About](https://www.factom.com/company/about-us/)
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> Factom, Inc. is a blockchain innovations company. Established in 2014, the founders recognized bitcoin’s limitations to be a practical blockchain for Enterprise data solutions. Generally, distributed records, information and documents have been difficult to protect, challenging to synchronize, and impossible to truly verify because of the manual effort involved. In response to these challenges, we built the Factom blockchain as open source, reaching full decentralization in May 2018.\
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> [...]\
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> In 2017, we raised over $8 million in a Series A led by Tim Draper, of Draper Associates. This series of funding included many valuable investors such as Medici Ventures, a wholly owned subsidiary of Overstock.com, Inc., Peeli Ventures, and Harvest Equity. With our Series A funding, we built Factom Harmony, our Blockchain-as-a-Service platform
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* [DHS S&T Awards $199K to Austin Based Factom Inc. for Internet of Things Systems Security](https://www.dhs.gov/science-and-technology/news/2016/06/17/st-awards-199k-austin-based-factom-inc-iot-systems-security) (2016)
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> The Department of Homeland Security (DHS) Science and Technology Directorate (S&T) today awarded $199,000 to Factom Inc. based in Austin, Texas, to advance the security of digital identity for Internet of Things (IoT) devices.
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* [Factom Inc. Wins Contract Award from the Department of Homeland Security: Preventing Forgery & Counterfeiting](https://www.factom.com/company-updates/factom-inc-wins-contract-award-from-the-department-of-homeland-security-preventing-forgery-counterfeiting/)
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> The Department of Homeland Security (DHS) Science and Technology Directorate’s Silicon Valley Innovation Program (SVIP) has given a performance-based contract award to **Factom** Inc. The award will be used to develop cross-blockchain technology to help prevent the forgery and counterfeiting of certificates and licenses.
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