Factom to Integrate Blockchain Technology for Chinese Notarization Firm

Blockchain startup Factom has signed a new partnership to integrate its technology with Ancun Zhengxin’s electronic data notarization services in China. Factom will offer advice and technical guidance as Ancun Zhengxin shapes its Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term strategy for its notarization services for more than 100 locations in 28 provinces across China.

“We are focused on providing our customers with a one-stop shop Internet technology solution, to meet their electronic data storage and notarization needs,” said Mr. Bing He, who is responsible for the technology of Ancun Zhengxin. "Through collaborating with Factom, we anticipate speeding up the process of providing blockchain technology based solutions to our customers, while helping the industry move to the next level in technology, information integrity and data security.”

Factom will provide Ancun Zhengxin with an application interface to blockchain for its back office operations and also build an application interface to integrate with Ancun Zhengxin’s existing software systems. These blockchain solutions will secure data history and timestamp Ancun Zhengxin's notarization service.

“We are honored to have the opportunity to work with Ancun Zhengxin,” said Jack Lu CTO of Factom Inc. “They are a wonderful company that can guide us as we move ahead with our China strategy. Jointly we will build added security within online commerce and communication. This is an exciting opportunity, and we are looking forward to more collaborations in the future.”

In December 2015 Factom was added to Microsoft Azure’s Blockchain as a Service (BaaS) after in May of the same year it announced a project with the Honduran government to restore integrity to its land title system.