Bitcoin Blockchain Startup Factom Raises $4.2 Million in Equity Funding

Bitcoin Blockchain Startup Factom Raises $4.2 Million in Equity Funding

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Factom, a startup that developers solutions that leverages a bitcoin blockchain has lifted $4.2 million in a new turn of appropriation led by Tim Draper of Draper Associates.

Factom Inc., a blockchain record association that has formerly suggested vital projects such as creating land titles around a bitcoin blockchain in Honduras, has announced a Series A turn of equity appropriation for $4.2 million.

Led by Tim Draper of Draper Associates, a appropriation turn will serve assistance in bringing in new crew and in a growth of Factom program that leverages a bitcoin blockchain for real-world applications.

In statements, Factom CEO and co-founder Peter Kirby said:

This turn of appropriation allows us to aggressively grow a association and a underlying technology.

Lead financier Tim Draper sees decentralized, blockchain-secured information as a resolution to many core concerns in infrastructure opposite several industries. Putting a pin on a flourishing regard of hacking and information tampering, Draper sees governments, banks, automobile manufacturers and retailers among other attention sectors receptive to a high pitfalls of information hacking.

He stated:

Centralized information is disposed to vicious disaster by any

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