Factom – Securing Data Using The Bitcoin Blockchain

Finding Genius Podcast

Richard Jacobs

Medicine, Health & Fitness

4.4 • 1K Ratings

🗓️ 19 December 2016

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Factom™, based in Austin, Texas, is a distributed, decentralized protocol layer running on top of Bitcoin that allows data of any kind to be memorialized, anchored, time-stamped, and cryptographically secured using Bitcoin's blockchain and tremendous network hashrate. In addition to these benefits, Factom allows the storage of data extremely efficiently, due to its use of Merkle Trees.
Brian Deery, Factom's Chief Scientist, discusses the motivation and mission of Factom, according to Brian, Paul Snow, and others involved in the company. Brian's wealth of knowledge about blockchain technology and the Bitcoin Blockchain can be overwhelming, even to experienced listeners, but this interview is well worth listening to, if you want to further your knowledge in this industry.

Transcript

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0:00.0	Welcome to Almost Here, Almost Here, Round the Corner of Future Technology Podcasts with Richard Jacobs.
0:08.0	Future Technologies Boys to Transform Our Lives, for better or worse, are the focus of this podcast.
0:13.6	Almost here, means these technologies are now here and
0:16.7	starting to be used.
0:18.2	We're just around the corner.
0:19.7	From Bitcoin to artificial intelligence,
0:22.0	3D printing, blockchain, virtual reality, and more.
0:27.0	Hi this is Richard Jacobs with Future Tech Podcasts. Around the corner almost Technology, and I'm here today at Factum, live in their offices
0:36.4	with Brian Deery, Chief Scientist at Factum. How you doing Brian?
0:40.5	Good to be here.
0:41.5	Yeah, thanks for taking the time. So, you know, for listeners, some
0:44.8	relate people, some know more, but real basically what is fact and what is it do?
0:51.4	Hmm. That's a tough question.
0:55.0	That's like asking what is Bitcoin?
0:57.5	Or what is Ethereum?
0:59.0	It's lots of things that can be classified many ways.
1:05.0	The explanation of factum that I like to give right now is it's a document management system. That's the way it was
1:18.4	optimized. So documents being documents interpreted by people or documents interpreted by computers or things that are not really, that would be not really
1:32.0	considered documents by a traditional sense.
1:37.1	So it's a way to publish documents or things that you need people to coordinate on and use a future
1:52.1	technology for that?
1:54.0	So what's the big why?
	...

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