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FACTOM - Introducing Honesty to Record-Keeping
Topic: Factoid - The Software Token For The Factom Network (Read 11786 times)
Why is there an additional crowdsale for Factom Inc?
How is all the revenue sharing?
Thought with buying Factoids we are good. Now there is a strange company collecting money again.
Factom Inc is a separate entity to the Factom Foundation although at this time they share a number of the same team members.
Factom Inc is incorporated so what you see on BnkToTheFuture is a funding round as a startup will do. More in D Johnston quote below.
Also more info about the partnership between Factom Inc + Factom Foundation can be found on our blog:
http://blog.factom.org/post/122941176349/factom-inc-factom-foundation-partnership
I'm interested in investing in Factom Inc and I'm curious how the investment is designed to pay off for those who buy in. Information on the investment website is difficult to digest.
The investment on BnkToTheFuture is like investing in any other startup, you get shares in the company, when they go up in value you make a profit when you sell them.
Many startups eventually grow to a point that they go public and their shares are available on the stock market. Also, eventually, there could be dividends offered.
Factom inc is selling shares in their company, what you bought - factoids - are the product of Factom Inc.
I'm hardly an investment expert, so dev please correct my understanding:
Factom Inc is a private company, and shares bought today are not sellable/tradeable unless you sell Factom Inc to another party or "go public" - sell all shares in another Ipo, which would get Factom Inc listed on the NYSE. http://www.investopedia.com/terms/g/goingpublic.asp
Unless either of these happens buyers today are stuck with Factom Inc shares, with the only way to make any return on investment is if you decide to pay dividends.
Please correct anything I've written.
The only correction is that Factoids are a software licence that allows to use Factom to hash entries on the blockchain (once they are converted to entry credits).
Factoids are issued by the Factom Foundation not Factom Inc.
I'm quoting David Johnston from our other thread with similar questions.
what sort of works and services will be offered for these "enterprise clients" ?
what are the main sources of income?
Blockchain as a Service (BaaS). We will help enterprises integrate our tech with their existing or new systems and for that will we charge a fee.
More info on our Blog: http://blog.factom.org/post/122941176349/factom-inc-factom-foundation-partnership
do you plan to expand into a full-fledged consulting firm for blockchain tech?
i see that the same people are on both factom foundation and factom inc. Do they then work 16 hours a day?
The goal for GG / Factom Inc. is more to create generalized blockchain / Factom tools for auditing, finance, land titles and so forth. Doing some consulting for large enterprise clients is a means to defining these general software tools. In short the goal for Factom Inc. is not to be primarily a consulting company, but rather to build software tools that can be used by dozens and eventually hundreds of different companies.
As for the work hours, both the Foundation and Factom Inc. teams actually do often work 16 hour days, plus weekends (you can see the late night commits + weekend commits time stamped on Github).
In general the Foundation is focused on supporting the core developers and the for profit is supporting the marketing / business folks. The two organizations staff will become more and more divergent over time. For example Peter Kirby serves as the CEO for the for profit while Paul Snow serves as the CEO of the Foundation given their different focuses.
Why is there an additional crowdsale for Factom Inc?
How is all the revenue sharing?
Thought with buying Factoids we are good. Now there is a strange company collecting money again.
Factom inc is selling shares in their company, what you bought - factoids - are the product of Factom Inc.
I'm hardly an investment expert, so dev please correct my understanding:
Factom Inc is a private company, and shares bought today are not sellable/tradeable unless you sell Factom Inc to another party or "go public" - sell all shares in another Ipo, which would get Factom Inc listed on the NYSE. http://www.investopedia.com/terms/g/goingpublic.asp
Unless either of these happens buyers today are stuck with Factom Inc shares, with the only way to make any return on investment is if you decide to pay dividends.
Please correct anything I've written.
I'm interested in investing in Factom Inc and I'm curious how the investment is designed to pay off for those who buy in. Information on the investment website is difficult to digest.
Why is there an additional crowdsale for Factom Inc?
How is all the revenue sharing?
Thought with buying Factoids we are good. Now there is a strange company collecting money again.
Here is our latest Factom Core Developer Update:
http://blog.factom.org/post/121105395224/factom-core-developer-update-june-9th-2015
http://blog.factom.org/post/121105395224/factom-core-developer-update-june-9th-2015
Why is this the first we are hearing about Q3? It would have been great information to have known before investing. If you don't state otherwise, people assume that you are ready to launch soon after your sale ends. Not very cool
Factom will be publishing a development update addressing the timeline; but rest assured no money is released (33%) until the beta and chain goes live. We did not avoid publishing any of this information, it is all on the milestone guidelines on the project page.
Also, the Factoids you see in your Koinify wallet are not real Factoids, they are a "proof-of-purchase". When the chain goes live, you will enter your master passphrase you received when purchasing Factoids into the Factom wallet, in which you will then be credited your real Factoids. There will be no sending of Factoids out of your Koinify wallet. You can read more about this process here: https://koinify.com/blog/thank-you-for-supporting-factom-and-the-decentralized-movement/
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For anybody else wondering, this is the sale exodus address: https://blockchain.info/address/35gLt5EgB367enjSjyEDahhWWcy6p1MGf6?offset=50&filter=0
There was appx ~$400,000 that was withdrawn and liquidated mid-sale, which is fully disclosed here: https://koinify.com/blog/factom-executes-planned-hedging-strategy-stage-one/
The itBit USD funds require the same multi-signature approval of withdrawal that the BTC address does for funds to be removed.
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Finally, if anybody has any further questions regarding Koinify or the software sales end, you can always reach out to me or shoot us an email at [email protected]
Why is this the first we are hearing about Q3? It would have been great information to have known before investing. If you don't state otherwise, people assume that you are ready to launch soon after your sale ends. Not very cool
I asked ahead of time and I was told exchanges would be able to integrate Factoids starting May 15th. I think we're waiting on the exchanges at this point.
Why is this the first we are hearing about Q3? It would have been great information to have known before investing. If you don't state otherwise, people assume that you are ready to launch soon after your sale ends. Not very cool
The blockchain goes live during Q3 and we can only exchange during that time?
So when the factoid will be listed on exchanges such as bittrex,poloniex to exchange?
it's a nice Project.
We completed our software sale this morning with over 4.3 million Factoids sold.
Paul Snow CEO of the Factom Foundation said this morning:
“It has been incredibly humbling to receive such an enthusiastic welcome from the bitcoin community.
The Factom Foundation wants to thank each of you for helping to secure the future of the Factom Project
and allow us to bring our dream of more honest systems to fruition. Over the next few months we will continue
to improve the Factom API and educate developers on how to incorporate Factom into their software”.
For details on what's next please read our Blog
And the Koinify Blog
Paul Snow CEO of the Factom Foundation said this morning:
“It has been incredibly humbling to receive such an enthusiastic welcome from the bitcoin community.
The Factom Foundation wants to thank each of you for helping to secure the future of the Factom Project
and allow us to bring our dream of more honest systems to fruition. Over the next few months we will continue
to improve the Factom API and educate developers on how to incorporate Factom into their software”.
For details on what's next please read our Blog
And the Koinify Blog
Ico ended, so what now?
country adoption
sorry could not resist https://uk.news.yahoo.com/honduras-build-land-title-registry-using-bitcoin-technology-162701917.html#y23n5Pi
OMG
Ico ended, so what now?
country adoption
sorry could not resist https://uk.news.yahoo.com/honduras-build-land-title-registry-using-bitcoin-technology-162701917.html#y23n5Pi
Ico ended, so what now?
We are thrilled to announce a partnership between HealthNautica + Factom. The news are featured on: CoinTelegraph Factom’s Latest Partnership Takes on US Healthcare.  Pete Harris - Blockchain Inside Out
HealthNautica to use Factom for Healthcare Audit Trails AllCoinsNews Factom Helping HealthNautica Secure Med Records, Audit Trails with Blockchain Crypto Currency Magazine - Japan ファクトムとアメリカ大手医療プロバイダーがパートナーに We are pleased to announce a collaboration between Infinity Algorithms + Factom. Read the details on our blog.   Read why Britain is such a magnet for Fintech, Bitcoin, and Blockchain related ideas and projects. Why the Factom Foundation selected London, England. Jump to:
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