Businesses and governments can use Factom to simplify records management, record business processes, and address security and compliance issues. Factom is a sidechain data layer built on top of the bitcoin blockchain to record and securely store data using the blockchain technology. The data layer can be used for financial record-keeping by businesses and for a wide range of other purposes like medical records, voting systems, property titles, and legal applications.Factom maintains a permanent, time-stamped record of your data in the blockchain.
Create applications that store data in the blockchain without the speed, cost, or size limitations of writing data directly to the Bitcoin blockchain. Factom wants to give every developer the ability to use the blockchain to build a new generation of applications.
In April 2015, Factom started selling Factoids, special digital tokens that allow users to add hashes into the Factom network. You can find more information about investing in Factom on bnktothefuture.com and angel.co.
Per december 2015, Microsoft announced it will host Factom on it’s BaaS (Blockchain-as-a-service) offering on the Azure platform.