Details

Next day after the launch of the Factoid Software Sale, CoinFox contacted Factom for more details. Peter Kirby, co-founder and president of Factom, answered our questions.  

On March 31st, the bitcoin startup Factom launched the sale of its Factoid Software and sold over 1.4 million Factoids worth more than 575 BTC in one day. Factom is a data layer built on top of the bitcoin blockchain to record and securely store data using the blockchain technology. CoinFox reached out to Peter Kirby, co-founder and president of Factom, with several questions:

Did you expect such a success on the first day of sales?

We're totally trilled and grateful to all of the people who believe in the project. We traveled all around the globe talking about Factom and the opportunities to bring blockchain technology to real business projects. It's fun to know it was worth all of those miles.

What do you think is the main reason of the popularity of your software?

Factom solves a lot of real world problems. Big banks, insurance companies, even governments are basically just big piles of records. Being able to make these systems tamper-proof and distributed can solve a lot of pain.

What are your plans for the next step?

We're working hard to deliver the beta of the product in May. We're also working on lots of interesting projects and partnerships to announce soon.

Are you going to enter into new partnerships with cryptocurrency companies?

We have deep roots in the community and have lots of great partnerships in place. We're always looking for new and interesting projects to demonstrate the power of blockchain technology.

How will the ability to store records in the blockchain change the world?

Wow... that's a tall order. Let's just say that the ability to monkey with documents like land title records, financial transactions, and mortgages has caused a lot of pain. If we build transparent and tamper-proof record keeping systems, we'll be a much more honest and secure place.