[ANN] FACTOM - Introducing Honesty to Record-Keeping

[CocoLibre]

I'm surprised that this doesn't get more attention until now:

Factom secures important paper documents on the blockchain with Smartrac
https://uk.finance.yahoo.com/news/factom-secures-important-paper-documents-091207833.html

Maybe not the biggest thing right now, but it seems to have some potential.

Great news and no market reaction yet. Pump incoming any second

Really strange. On the other hand, I m sure if some ass would start a forum thread saying there s some glitch in the Factom, people would dump immediately. Why FUD is always 10x stronger then really good news?

Its because all the FCT tokens are on polo and its easy for people to react to FUD on the spot vs other coins where they are forced to send them from wallets to the exchange and then sell; at which point the price has already dropped. As a result most people wont end participating in the overreaction and will often determine that its all unfounded bashing soon after. Once exodus has FCT inclusion the market will change quite a bit; won't be seeing insanely cheap loans anymore and sells walls will be drying up as shorts will have no excess supply to use.

Yes, there might be something to this hypothesis. People keep coins on Polo cause they have no real alternative and then send them to cheap margin loans which floods the market which cheap coins available for pumps and dumps. How long since testnet started? 2 weeks?

Formal testnet announcement was on nov 7th, so yes, we have just entered the 3rd week of testing yesterday. https://www.factom.com/blog/factom-launches-federated-testnet

[CocoLibre]

I'm surprised that this doesn't get more attention until now:

Factom secures important paper documents on the blockchain with Smartrac
https://uk.finance.yahoo.com/news/factom-secures-important-paper-documents-091207833.html

Maybe not the biggest thing right now, but it seems to have some potential.

This is a big deal, SmartTrac is the largest RFID provider in the world and currently produces 2.6 billion transponders annually and growing. After Dloc integration that number will likely rise and be backed by the Factom blockchain; pretty impressive news past few days or so regardless of what some daytraders on polo think.

I did some very loose calculations for what we can expect on a full roll out for entry consumption on this RFID partnership. At "full exposure" of the current RFID being produced by smart trac we could see on the low end 11.5 million entries a month or 140 million entries annually; on the high end 746 million entries per month, 8.9 billion entries annually.

Obviously these numbers are just a guess, we won't know more accurate numbers until after the presentation to the public next week. https://www.trustech-event.com/Trustech-exhibition-discover-the-International-event-of-payment/Cartes-trade-show-became-Trustech-discover-what-s-new/The-global-event-dedicated-to-payment-identification-and-mobility-Trustech-trust-based-technologies

If anyone is wondering where I got my data/sources I used this PDF https://www.smartrac-group.com/files/content/About%20us/SMARTRAC_Company_Presentation.pdf

[Mrboot]

I'm surprised that this doesn't get more attention until now:

Factom secures important paper documents on the blockchain with Smartrac
https://uk.finance.yahoo.com/news/factom-secures-important-paper-documents-091207833.html

Maybe not the biggest thing right now, but it seems to have some potential.

This is a big deal, SmartTrac is the largest RFID provider in the world and currently produces 2.6 billion transponders annually and growing. After Dloc integration that number will likely rise and be backed by the Factom blockchain; pretty impressive news past few days or so regardless of what some daytraders on polo think.

I did some very loose calculations for what we can expect on a full roll out for entry consumption on this RFID partnership. At "full exposure" of the current RFID being produced by smart trac we could see on the low end 11.5 million entries a month or 140 million entries annually; on the high end 746 million entries per month, 8.9 billion entries annually.

Obviously these numbers are just a guess, we won't know more accurate numbers until after the presentation to the public next week.

If anyone is wondering where I got my data/sources I used this PDF https://www.smartrac-group.com/files/content/About%20us/SMARTRAC_Company_Presentation.pdf

I think this is indeed guessing, but it shows the value factom can bring. with 100 company's like this were looking at 1 bn a day and thats a easy 400$ factoid price.

But yes all just guesses but im happy i got equity and factoids.

[oneyesoneno]

I'm surprised that this doesn't get more attention until now:

Factom secures important paper documents on the blockchain with Smartrac
https://uk.finance.yahoo.com/news/factom-secures-important-paper-documents-091207833.html

Maybe not the biggest thing right now, but it seems to have some potential.

This is a big deal, SmartTrac is the largest RFID provider in the world and currently produces 2.6 billion transponders annually and growing. After Dloc integration that number will likely rise and be backed by the Factom blockchain; pretty impressive news past few days or so regardless of what some daytraders on polo think.

I did some very loose calculations for what we can expect on a full roll out for entry consumption on this RFID partnership. At "full exposure" of the current RFID being produced by smart trac we could see on the low end 11.5 million entries a month or 140 million entries annually; on the high end 746 million entries per month, 8.9 billion entries annually.

Obviously these numbers are just a guess, we won't know more accurate numbers until after the presentation to the public next week.

If anyone is wondering where I got my data/sources I used this PDF https://www.smartrac-group.com/files/content/About%20us/SMARTRAC_Company_Presentation.pdf

I think this is indeed guessing, but it shows the value factom can bring. with 100 company's like this were looking at 1 bn a day and thats a easy 400$ factoid price.

But yes all just guesses but im happy i got equity and factoids.

In my opinion, especially for someone who want to trust Factom but does not sure when is the right time to buy? I think, right now is the best moment to get in and be a part of Factom  

[Mrboot]

I'm surprised that this doesn't get more attention until now:

Factom secures important paper documents on the blockchain with Smartrac
https://uk.finance.yahoo.com/news/factom-secures-important-paper-documents-091207833.html

Maybe not the biggest thing right now, but it seems to have some potential.

This is a big deal, SmartTrac is the largest RFID provider in the world and currently produces 2.6 billion transponders annually and growing. After Dloc integration that number will likely rise and be backed by the Factom blockchain; pretty impressive news past few days or so regardless of what some daytraders on polo think.

I did some very loose calculations for what we can expect on a full roll out for entry consumption on this RFID partnership. At "full exposure" of the current RFID being produced by smart trac we could see on the low end 11.5 million entries a month or 140 million entries annually; on the high end 746 million entries per month, 8.9 billion entries annually.

Obviously these numbers are just a guess, we won't know more accurate numbers until after the presentation to the public next week.

If anyone is wondering where I got my data/sources I used this PDF https://www.smartrac-group.com/files/content/About%20us/SMARTRAC_Company_Presentation.pdf

I think this is indeed guessing, but it shows the value factom can bring. with 100 company's like this were looking at 1 bn a day and thats a easy 400$ factoid price.

But yes all just guesses but im happy i got equity and factoids.

In my opinion, especially for someone who want to trust Factom but does not sure when is the right time to buy? I think, right now is the best moment to get in and be a part of Factom  

Its never a long term investment, but the current price completly depending on btc brea up or down. Its on a very dangerous level.

[Less338]

I'm surprised that this doesn't get more attention until now:

Factom secures important paper documents on the blockchain with Smartrac
https://uk.finance.yahoo.com/news/factom-secures-important-paper-documents-091207833.html

Maybe not the biggest thing right now, but it seems to have some potential.

This is a big deal, SmartTrac is the largest RFID provider in the world and currently produces 2.6 billion transponders annually and growing. After Dloc integration that number will likely rise and be backed by the Factom blockchain; pretty impressive news past few days or so regardless of what some daytraders on polo think.

I did some very loose calculations for what we can expect on a full roll out for entry consumption on this RFID partnership. At "full exposure" of the current RFID being produced by smart trac we could see on the low end 11.5 million entries a month or 140 million entries annually; on the high end 746 million entries per month, 8.9 billion entries annually.

Obviously these numbers are just a guess, we won't know more accurate numbers until after the presentation to the public next week. https://www.trustech-event.com/Trustech-exhibition-discover-the-International-event-of-payment/Cartes-trade-show-became-Trustech-discover-what-s-new/The-global-event-dedicated-to-payment-identification-and-mobility-Trustech-trust-based-technologies

If anyone is wondering where I got my data/sources I used this PDF https://www.smartrac-group.com/files/content/About%20us/SMARTRAC_Company_Presentation.pdf

How do you go from 2.6 billion transponders to 140 million - 8.9 billion entries per year? I am curious on what basis you are trying to calculate how many transponders can be hashed through one entry credit.

[kerrang]

Its never a long term investment, but the current price completly depending on btc brea up or down. Its on a very dangerous level.

agreed.

[D-Lux]

[...] with 100 company's like this were looking at 1 bn a day and thats a easy 400$ factoid price.

But yes all just guesses but im happy i got equity and factoids.

Yes 1b entries per day would actually require a base price (minus speculative premium) of around $400 / FCT. This would be just to avoid exhaustion of the FCT supply post-M3:

https://www.reddit.com/r/factom/comments/4zxi6e/fct_ec_and_the_factom_financial_ecosystem/

Given FCT's scalability, though, it's hard to imagine a speculative premium below several 100X, which would still be in the range of several S&P stocks's P/E, with comparatively much more limited scalability potential:

http://americasmarkets.usatoday.com/2015/03/02/the-8-most-expensive-stocks-you-can-buy/

[oneyesoneno]

I'm surprised that this doesn't get more attention until now:

Factom secures important paper documents on the blockchain with Smartrac
https://uk.finance.yahoo.com/news/factom-secures-important-paper-documents-091207833.html

Maybe not the biggest thing right now, but it seems to have some potential.

This is a big deal, SmartTrac is the largest RFID provider in the world and currently produces 2.6 billion transponders annually and growing. After Dloc integration that number will likely rise and be backed by the Factom blockchain; pretty impressive news past few days or so regardless of what some daytraders on polo think.

I did some very loose calculations for what we can expect on a full roll out for entry consumption on this RFID partnership. At "full exposure" of the current RFID being produced by smart trac we could see on the low end 11.5 million entries a month or 140 million entries annually; on the high end 746 million entries per month, 8.9 billion entries annually.

Obviously these numbers are just a guess, we won't know more accurate numbers until after the presentation to the public next week.

If anyone is wondering where I got my data/sources I used this PDF https://www.smartrac-group.com/files/content/About%20us/SMARTRAC_Company_Presentation.pdf

I think this is indeed guessing, but it shows the value factom can bring. with 100 company's like this were looking at 1 bn a day and thats a easy 400$ factoid price.

But yes all just guesses but im happy i got equity and factoids.

In my opinion, especially for someone who want to trust Factom but does not sure when is the right time to buy? I think, right now is the best moment to get in and be a part of Factom  

Its never a long term investment, but the current price completly depending on btc brea up or down. Its on a very dangerous level.

Factom could do what btc can't ... and it is no secret science that btc is always up or down every single time. Time will tell  

[crazyivan]

[...] with 100 company's like this were looking at 1 bn a day and thats a easy 400$ factoid price.

But yes all just guesses but im happy i got equity and factoids.

Yes 1b entries per day would actually require a base price (minus speculative premium) of around $400 / FCT. This would be just to avoid exhaustion of the FCT supply post-M3:

https://www.reddit.com/r/factom/comments/4zxi6e/fct_ec_and_the_factom_financial_ecosystem/

Given FCT's scalability, though, it's hard to imagine a speculative premium below several 100X, which would still be in the range of several S&P stocks's P/E, with comparatively much more limited scalability potential:

http://americasmarkets.usatoday.com/2015/03/02/the-8-most-expensive-stocks-you-can-buy/

$400? My friend, I ve been into crypto long time. I ve been invested into at least dozen coins. Do you how many of these coins s had people on their forums expecting similar price. Every single one. Do you know how many reached this number? Not a SINGLE ONE.

I know you re going to say this figure s based on fundamentals and calculations. Still, Statistics s against this one.

[jay8291]

FCT is still struglling at the 30s level. It will break soon. Just waiting.

[tempus]

Blockchain-based document authentication solution launches next week

Blockchain authentication company Factom Inc. will demonstrate an integrated physical document verification and authentication solution called dLoc next week.
The demonstration, in partnership with Internet of Things platform provider Smartrac N.V., will come at the trade show Trustech in Cannes Nov. 29 to Dec. 1.
http://siliconangle.com/blog/2016/11/22/smartrac-launches-document-authentication-solution-using-factoms-blockchain/

[D-Lux]

[...] with 100 company's like this were looking at 1 bn a day and thats a easy 400$ factoid price.

But yes all just guesses but im happy i got equity and factoids.

Yes 1b entries per day would actually require a base price (minus speculative premium) of around $400 / FCT. This would be just to avoid exhaustion of the FCT supply post-M3:

https://www.reddit.com/r/factom/comments/4zxi6e/fct_ec_and_the_factom_financial_ecosystem/

Given FCT's scalability, though, it's hard to imagine a speculative premium below several 100X, which would still be in the range of several S&P stocks's P/E, with comparatively much more limited scalability potential:

http://americasmarkets.usatoday.com/2015/03/02/the-8-most-expensive-stocks-you-can-buy/

$400? My friend, I ve been into crypto long time. I ve been invested into at least dozen coins. Do you how many of these coins s had people on their forums expecting similar price. Every single one. Do you know how many reached this number? Not a SINGLE ONE.

I know you re going to say this figure s based on fundamentals and calculations. Still, Statistics s against this one.

Well not "fundamentals," but definitely statistics and logic. The bottom line is that the math doesn’t lie. And frankly whatever came before (and however anyone feels about that) has zero bearing on the validity of the math. Which Brian Deery has verified in the thread I linked to.

1b entries / day = 365b entries / year = 365m usd spent / year.  
365m / 876,000 new FCT per year = $416.

And this is the base price—the absolute minimum FCT could be priced at in order to stabilize the FCT supply. Anything less, and the FCT supply would ultimately go to 0.

[D-Lux]

Blockchain-based document authentication solution launches next week

Blockchain authentication company Factom Inc. will demonstrate an integrated physical document verification and authentication solution called dLoc next week.
The demonstration, in partnership with Internet of Things platform provider Smartrac N.V., will come at the trade show Trustech in Cannes Nov. 29 to Dec. 1.
http://siliconangle.com/blog/2016/11/22/smartrac-launches-document-authentication-solution-using-factoms-blockchain/

This is so interesting ... really hope there's a video of the presentation.

[tempus]

Blockchain-based document authentication solution launches next week

Blockchain authentication company Factom Inc. will demonstrate an integrated physical document verification and authentication solution called dLoc next week.
The demonstration, in partnership with Internet of Things platform provider Smartrac N.V., will come at the trade show Trustech in Cannes Nov. 29 to Dec. 1.
http://siliconangle.com/blog/2016/11/22/smartrac-launches-document-authentication-solution-using-factoms-blockchain/

This is so interesting ... really hope there's a video of the presentation.

Yep, same here! There is a lack of attention on this! A video could change that.

[lolikop]

Btc still bullish when that changes we will see a whole new trading pattern

[Ahaezod]

Do we know if any issue was found during the testnet?

I understand that Factom team tried to deliver the best possible code, so I expect the testnet not to last for a long time. Any guesstimate of the timeline?

[oneyesoneno]

Blockchain-based document authentication solution launches next week

Blockchain authentication company Factom Inc. will demonstrate an integrated physical document verification and authentication solution called dLoc next week.
The demonstration, in partnership with Internet of Things platform provider Smartrac N.V., will come at the trade show Trustech in Cannes Nov. 29 to Dec. 1.
http://siliconangle.com/blog/2016/11/22/smartrac-launches-document-authentication-solution-using-factoms-blockchain/

This is so interesting ... really hope there's a video of the presentation.

Yep, same here! There is a lack of attention on this! A video could change that.

Best of Luck to their upcoming demonstration.

[BrianDeery]

Does anyone have questions for Tiana they want answered on air?

[D-Lux]

Does anyone have questions for Tiana they want answered on air?

—How do you see Factom-the-protocol evolving beyond M2 and M3? Is it a matter of developing products and services on the base-layer tech, or do you see that base layer evolving as well down the line?

—Can you imagine, theoretically, a point in the future where all data has full integrity? Or do you think there will always be a pull toward manipulation by those with vested interest?

—Factom’s Chief Scientist, Brian Deery, has said that it takes about as long to wrap your head around FCT as it does BTC. Why do you think this is the case? The details of the tech aside, do you think there are general conceptual hurdles that prevent a quick understanding of Factom?

—Do you see any potentially negative consequences to large-scale blockchain adoption? Can blockchain tech be used for evil, or is it always on the side of good?

I also asked these questions of Paul in the Q+A for CryptoCompare, so if Tiana's unable to get to them, no problem. Anyway ... thanks for soliciting from the peanut gallery, Brian.

Also, when/where will Tiana be appearing?