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Factom Presentation by Founder Peter Kirby

Date post: 29-Jul-2015
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TOWARDS DECENTRALIZATION
Transcript

T O WA R D S D E C E N T R A L I Z AT I O N

M O D E R N C O R P O R AT I O N S B E G I N T O R E P L A C E G O V E R N M E N T S

S TA R T I N G I N T H E 1 6 0 0 S

T H E W O R L D I S N O W O R G A N I Z E D B Y C O R P O R AT I O N S :

• Collect and manage capital

• Collect and manage infrastructure

• Distribute wages, payments

• Enter into to contracts, and hold liability

• Provide governance of

• Production

• Distribution

• Marketing

• Establish and maintain corporate identity

N O W W E ’ R E C O N T E M P L AT I N G D E C E N T R A L I Z E D O R G A N I Z AT I O N S

B I T C O I N 2 . 0 D I S T R I B U T E D A P P L I C AT I O N

HOW DO YOU CREATE A :

FA C T O M I S B L A N K PA P E R

FA C T O M I S B L A N K PA P E R

factom does practically nothing.

FA C T O M I S B L A N K PA P E R

write once. never erase.

A D ATA L AY E R F O R T H E B L O C K C H A I N

FACTOM IS :

A P P L I C AT I O N S O N T H E B L O C K C H A I N

FACTOM GIVES YOU TOOLS TO BUILD:

B U I L D I N G O N T H E B L O C K C H A I NFACTOM SUPPORTS :

B I T C O I N S H O U L D R E M A I N P U R E

C RY P T O C U R R E N C Y I S O L AT I O N

L A N D T I T L E R E C O R D SU S E C A S E :

T I T L E R E C O R D : C E N T R A L A M E R I C A

L A N D T I T L E C H A L L E N G E

• Title Record was digitized 12 years ago using an Oracle system. World Bank spent $100+ million.

• Corrupt officials changed records in the database.

• Factom allows you to build a truly tamper-proof record system and tracks every step to prevent garbage in.

T I T L E R E C O R D S Y S T E M

A U D I T I N G F I N A N C I A L R E C O R D SU S E C A S E :

C AT C H I N G T H E B A D G U Y S

• Immutable Audit Trail means you can’t add records to the past.

• You can’t delete records.

• You can’t just bury records in a flood of data.

• Proof of Corruption!

H O N E S T Y I S S U B V E R S I V E


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