Factom Announces Factoid Software Sale

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Exchange Bitcoins for Factoid Software Tokens Available Upon Beta Release of the Blockchain-based Record-keeping Network

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Factom today announced that starting at 10am CST, it has opened its Factoid software sale, which will run for 45 days. The software tokens, called “Factoids,” can be purchased using Bitcoins through the Koinify platform.

Factoids will enable users to access the Factom open-source software platform in order to permanently record information on Factom’s blockchain data layer. Factoid holders will have a first glimpse into the future of Blockchain technology with Factom.

“The Factoid sale provides the endowment necessary to advance the Factom Project and build a permanent, decentralized, record-keeping system,” said Peter Kirby, president of Factom. “All businesses are giant stacks of records, so this technology can be applied to nearly every aspect of commercial, institutional, and governmental processes. ”

As the host of the sale, Koinify will ensure transparency and accountability by giving Factom the funds one-third at a time as they complete milestones, like the deployment of the beta client, the front end and additional federated servers and finally, a fully decentralized network.

The purchased tokens will be recorded in a public Factom ledger during the sale. The Factom software beta is released after the software sale, and tokens will be sent to the purchasers’ wallet addresses.

Factoids are available for purchase in unlimited quantities during the sale. After the sale, Factoids can be purchased directly from users or earned through running the hardware backbone of the system.

Factoids (FACT) will initially be offered at a discounted price of 2000 FACT to one Bitcoin, or approximately $0.12 each at the start of the sale. The price will increase weekly throughout the sale to finally land at the standard price of 1500 FACT to one Bitcoin.

About Factom
Factom is the first usable blockchain technology to solve real-world business problems by providing an unalterable record-keeping system. By creating a data layer on top of the blockchain, Factom’s distributed ledger technology secures millions of real-time records in the blockchain with a single hash. Businesses and governments alike can use Factom to document their information so that it cannot be modified, deleted or backdated. Factom’s technology decentralizes record keeping by ensuring that the integrity of secured data remains public and readily available. This provides transparency, while at the same time maintaining user privacy. To learn more about the project, visit http://www.factom.org.

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