Factom is Building Fast, Reliable Document Auditing Services on the Blockchain – A Bit of News

When George Washington was 6 years old, his father gifted him a hatchet. The first thing the boy did was run around the farm chopping stray pieces of wood. Eventually he tested the blade on a young cherry tree. His father discovered the felled trunk and confronted George. The boy immediately confessed: “I cannot tell a lie, I did chop down the cherry tree.”

Washington’s mishap is pure fiction, but the tale illustrates how highly we value honesty in our interactions. Modern society extends this far beyond personal relationships. Trust and transparency are foundational elements of business, government, and financial transactions.

Factom is a blockchain data layer service that maintains trust in document management and accountability. It allows entities to track changes to stored records while maintaining full transparency, all while leveraging decentralized blockchain technology for speed and cost effectiveness.

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