While many people have heard ofBitcoinsor cryptocurrency, far fewer people are familiar with the underlying technology called blockchain.
At my last company, CoinTerra, we built Bitcoin connection hardware.
I had to jump in and learn all about cryptocurrency and hardware.
In general, I like to explore areas where different things or technologies happen to intersect.
I decided to go back to school and get an MBA, before moving on to my next venture.
With such a diverse background and set of experiences, how/why did you start Factom?
The name Factom comes from the Latin Factum for Anything stated and made certain.
whom they belong to).
We are building on the experience and knowledge gained from Bitcoin and, more recently, Ethereum.
This is where my previous experience came in.
What is the messiest record keeping problem in the world?
It is worth a lot of money and customers in this industry will pay for it.
The factoid is also a digital token that represents the ability to write data into the system.
How do you define your market?
Who is your specific target audience within that market?
This includes companies in the insurance and financial services industries.
In the future, we will consider addressing other specific markets.
Whom do you see as your main competitors?
There are several relatively well-known competing blockchains, but they focus on different areas.
For example, Ethereum focusses on smart contracts, whereas we focus on data endurance.
Another example would be Ripple, which focusses on financial transactions and is being adopted by banking institutions.
How do you see your tools as different and/or better than theirs?
Yes, the Factom core technology is open source software that is freely available on GitHub.
The Factom blockchain already has over 100 Million data entries written in it.
This platform is more complete and simpler to use than the core project.
We will also host it, so that we can guarantee reliability and uptime.
What are your top three tips for companies wanting to utilize blockchain technology?
How do you see blockchain technology evolving in the next few years?
In 10 years, a billion people will be using blockchains.
Most of them will not know it.
The technology will fade into the background and be fundamental to the way our world works.
What are your future plans for Factom?
Build a healthy, robust business with great products that our customers love!
How many employees do you have today?
Where are they located?
We now have 37 employees.
Most are in Austin, Texas.
We have amazing Dev teams in Krakow/Warsaw, Poland and Buenos Aires, Argentina.
How many hours a day do you normally work?
What do you like to do when you are not working?
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