Factom is a company which built the Factom blockchain to solve the Bitcoin’s core issue i.e. smaller block size and slow transaction speeds. Factom blockchain uses Factoids (FCT) as the settling coin for transactions. Current Factoid supply is 8,753,219 FCT. Eventually Factoids (FCT) will be issued at a fixed rate.

Factom provides two major services over its blockchain i.e. Factom Harmony (solve problems of mortgage industry) and dLoc (document authentication and verification). Factom ockchain provides the decentralized mathematically proven notarization service. Factom uses proof of process, proof of publication and proof of audit protocols to secure and verify the documents, contracts, and settlements.

Factom was developed by 8 co-founders where Paul Snow is the present CEO and David Johnston is Chairman of the Board. The team consists of 26 members and 4 advisors.