Factom (FCT)

Factom (FCT) is a decentralized, distributed ledger technology that was designed to make it easier for businesses and individuals to store and protect their data. The platform utilizes the blockchain to store and secure data, which is protected by smart contracts and authentication protocols. Factom was founded in 2014 by Paul Snow and David Johnston. Factom was created in-order to solve many of the challenges associated with storing and protecting data on the blockchain. The Factom protocol helps protect stored data from manipulation, tampering, or loss from cyber attacks. As opposed to data being stored directly on the blockchain, Factom creates an abstraction layer, which means that the blockchain isn't directly connected to all the data stored on the platform. This helps to enhance security and privacy of the data stored on the Factom blockchain. Factom is unique because it doesn't require the users of the platform to be familiar with cryptography or blockchain technology. The platform has easy-to-use graphical interfaces and a simple API that allow users to securely store and access data. Additionally, Factom stands apart from other blockchains by offering low fees, fast processing times, and robust security features. Factom is being utilized in industries such as banking and finance, healthcare, supply chain, real estate, and government. In the banking and finance industry, Factom is being used to streamline compliance procedures and reduce the potential for identity theft and fraud. In healthcare, the platform is being used to store patient data securely and privately. In supply chain, Factom is being used to track and trace goods as they move through the supply chain. And in the real estate industry, Factom is being used to store ownership information, title deeds, and other important real estate documents securely and permanently. Factom can be purchased and sold directly on cryptocurrency exchanges, such as Binance, Poloniex, and Huobi. The token is also available on peer-to-peer trading platforms like LocalBitcoins. In conclusion, Factom (FCT) is a powerful and advanced distributed ledger technology that is designed to make it easier for businesses and individuals to store and protect their data securely and privately. The platform is being used in a variety of industries, including banking and finance, healthcare, supply chain, and real estate. Factom has easy-to-use graphical interfaces, a fast processing speed, and low fees. The token can be purchased and sold directly on cryptocurrency exchanges and peer-to-peer trading platforms.