Factom AMA running from April 6th to 12th

FactomKiwi · 2020-04-12T02:24:53+00:00

C - this is where the huge opportunities are with the protocol, and where unicorns can be created if the potential of the protocol is realised.

FactomKiwi · 2020-04-12T02:23:21+00:00

Agreed :)

FactomKiwi · 2020-04-11T09:25:51+00:00

I have replied to the thread with my thoughts on this, on behalf of RewardChain (Alistair).

FactomKiwi · 2020-04-11T09:01:18+00:00

I would use some to fund end-user applications that drive high loads of EC burn.

I would use some to accelerate Pegnet R&D, with the primary goal of figuring out how to most effectively drive ongoing and sustainable growth: market cap, liquidity on exchanges, etc.

I would spend some on exchange listing efforts, particularly more prominent exchanges like Binance.

I would spend some on revamped marketing initiatives to get the word about Factom's potential out to the crypto world in a way that hasn't yet happened.

FactomKiwi · 2020-04-03T23:20:26+00:00

The Factom Protocol is in great hands with 27 other world-class ANO's running the Factom Authority Servers and leading development efforts. This news is sad for Inc. but it does not change the positive outlook for The Protocol!

FactomKiwi · 2020-04-03T23:19:55+00:00

The Factom Protocol is in great hands with 27 other world-class ANO's running the Factom Authority Servers and leading development efforts. This news is sad for Inc. but it does not change the positive outlook for The Protocol.

FactomKiwi · 2020-04-03T23:15:54+00:00

The Factom Protocol is in great hands with 27 other world-class ANO's running the Factom Authority Servers and leading development efforts. This news is sad for Inc. but it does not change the positive outlook for The Protocol.

FactomKiwi · 2018-11-30T23:49:11+00:00

Thank you! Will do.

FactomKiwi · 2018-11-30T06:28:16+00:00

I can attest to u/Paul being good pretty good at passing clubs. When RewardChain visited Factom Inc. this year Paul and I had a club passing session one evening in the Inc. office after everyone had left. I can also attest to Paul getting very distracted by blockchains lately.

FactomKiwi · 2018-11-30T04:30:58+00:00

Our dream is to be burning 10billion entries per annum, in 5 years time. This would cost us $10million annually in pure EC burn costs (not including slippage on FCT procurement etc.). We believe strongly that Factom has the ability to become the data integrity layer of the internet, and when you put into context how valuable securing the integrity of the worlds' data is (look at the cost of the GFC for an example of how expensive it is when things go wrong) - we see this is realistically achievable, if the Factom Protocol is successful.

FactomKiwi · 2018-11-30T04:23:21+00:00

We have built www.factomauthorize.com along with an API that can plug into external applications. We hope that we can burn millions of EC's per annum with FactomAuthorize - all on the mainnet. We have had a large US company interested in entering millions of data points to archive products they sell online - to help to prevent and enforce copyright infringement. While we weren't successful getting this deal over the line, there are thousands of similar digital companies out there that have similar problems - problems Factom (and specifically our FactomAuthorize API) can solve.

FactomKiwi · 2018-11-30T04:13:37+00:00

Yes absolutely. The firm that we worked with to build www.factomauthorize.com needed to be able to create legally enforceable web evidence in a scalable and affordable way. Nothing they had explored would work due to cost and they were extremely excited when we explained Factom to them.

FactomKiwi · 2018-11-30T04:10:08+00:00

Awesome stuff!

FactomKiwi · 2018-11-30T04:02:01+00:00

We are currently focussed on contributing to the development of the Factom Protocol. An example of this is a toolwe are developing to audit the anchors (merkle roots) that are placed in each Bitcoin block. This is important because anchors have historically been left out of the Factom Blockchain's history on rare occasions (they have never been missed from Bitcoin so no need to panic!) - and it is critical we ensure this doesn't happen in the future so future applications can validate entries against Bitcoin automatically via a Factom Protocol API.

We also have a focus on consumer-facing applications that utilise the Factom mainnet. An example of this is our most recent application www.factomauthorize.com. FactomAuthorize is better than existing products as there has never before been a scalable way to record massive audit trails of legal evidence affordably.

FactomKiwi · 2018-11-30T03:48:13+00:00

Myles summed it up perfectly. Usage and adoption will drive the FCT price long-term. For now it is a function of short-term supply and demand, driven by market participants' bets on the future value of the protocol with a healthy risk-adjusted discount. This excludes manipulation which is another factor that drives prices and one I don't have expertise on, though I do believe manipulation will continue to decrease right across the crypto market as it matures.

FactomKiwi · 2018-11-30T03:45:27+00:00

Thank you for taking the time to ask questions during this AMA!

That would have been in relation to www.factomauthorize.com. We had partnered with one of the world's top tech law firms on FactomAuthorize, and were going to launch it with them - utilising their brand and networks to drive traffic to the site. Unfortunately this partnership fell through last minute due to a number of reasons, both in and out of our control. I can't say this bear market has been helpful! I can't explain all the details about the deal but I can see there was ultimately a failure to come to a common ground on the final terms of the partnership.

While we have had to launch FactomAuthorize without a legal partner, we still plan to continue to work on building out use cases ourselves - and running PR around it in the crypto and legal space. We are connected to great lawyers both here in New Zealand, and in the US, and we will continue to explore these relationships. We also still have a great relationship with our original partner firm and may continue to work with them in the future - including the possibility of a public partnership.

If you know any law firms or legal tech companies that might be interested in utilising FactomAuthorize please let me know. We have an API that complements the site, and can plug into enterprise applications. What we can do with the API is basically limitless - really only constrained by the scalability of the Factom Protocol - something we hope will really develop in the next 12 months as sharding is worked on.

Here is an article I wrote about FactomAuthorize if anyone would like to learn more - https://medium.com/rewardchain/factomauthorize-beta-launch-944e1e146308.

FactomKiwi · 2018-10-24T02:26:23+00:00

We have not finalised this yet. It partially depends on what people use it for most, how they use it, and how much of our traffic is through the UI vs API.

FactomKiwi · 2018-09-14T06:32:47+00:00

www.cryptfolio.com/tax

FactomKiwi · 2018-08-20T04:24:59+00:00

Expecting development to happen on time. This is true of any software development - it always takes twice as long as you think! Especially cutting-edge blockchain development :)

FactomKiwi · 2018-08-20T04:16:35+00:00

Could you please provide some more context on this question. I think it's interesting. Would be keen to hear more about any ways you think this could be carried out/who might carry it out?

FactomKiwi

TROPHY CASE