Factom Foundation Closes Software Sale With 4.3 Million Licenses Sold

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Factom today announced the close of its software token sale, which sold 4,379,973 “Factoids,” raising more than $540,000

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Factom today announced the close of its software token sale, which sold 4,379,973 “Factoids,” raising more than $540,000. This makes it one of the top ten most successful software token sales in the blockchain industry. Funds raised via the sale go toward the further development of the open-sourced software, which is slated to be released later this summer.

“It has been incredibly humbling to receive such an enthusiastic welcome from the bitcoin community,” said Paul Snow, CEO of the Factom Foundation. “The Factom Foundation wants to thank each of you for helping to secure the future of the Factom Project and allowing us to bring our dream of more honest systems to fruition. Over the next few months we will continue to improve the Factom API and educate developers on how to incorporate Factom into their software.”

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.

Factoids become usable and tradable software tokens with the release of the beta Factom client. Each customer will have a Factom wallet and can use their Factoids to buy Entry Credits or send them to fellow Factom customers. According to Paul Snow, many companies have expressed an interest in making Factoids tradable on their platform, so more partnership announcements will be expected in the future across several industries.

Thirty-three percent of the funds raised will be dispersed when the Factom Foundation releases the beta. They plan to make it available in Q3 of 2015. This means that developers and businesses can now begin to build on top of Factom’s data layer. Over time, the system will add additional layers of security and decentralization.

As with any new system, user testing is a key to its long-term stability and growth. For those interested in testing the software or running their own Factom server, please reach out directly through the Factom website.

Find the full coding tool set on GitHub at github.com/FactomProject, along with useful links to developer tools and documentation. Learn more about the community and connect directly with fellow developers at http://www.factom.org.

About The Factom Foundation
The Factom Foundation 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. Their technology decentralizes record keeping. Factom 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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April Wareham
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