Tether Partners with Factom As Part of Audit Strategy

Tether and Factom have announced a partnership, each to further the business development goals of the other through its application of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term technology.

Tether is a startup aiming to use the 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 to represent fiat currency and carry out transfers. One unit of its "tether" currency is worth one dollar. It says that its units are redeemable at any time. It also says to have plans for a robust regimen of transparency, audits and compliance.

Bitfinex, a major USD-based Bitcoin exchange, announced in January that it will be using Tether to power blockchain-based fiat transfers.

Factom is a startup that uses the blockchain to secure and timestamp documents and verify other business processes. Tether will be leveraging Factom's technology to provide transparency into its processes, using Factom's capabilities to provide a verifiable audit trail decentralized from the trust of any single party.

Factom said it will be using Tether's technology for its "asset allocation strategy", saying that further details will be announced in the coming weeks.