The past week has seen almost all cryptocurrencies lose 30% or more of their value in US dollars. Delayed futures markets, hash wars, drama and network instabilities have shaken the confidence in the market.
However one cryptocurrency has managed to not only stay away from all the chaos, but also double in price during one of the most devastating weeks in cryptocurrency history.
Factom (FCT) is a cryptocurrency focused on providing data integrity and trust capabilities in software solutions in multiple industries.
Created in 2015, before the conclusion of the highly-polarising bitcoin block size debate, Factom has managed to make use of multiple recommendations made by both sides of the debate without going into extremes.
While technically advanced, this project has been staying under the radar for the past few years, with very limited activity on its blockchain.
However, a recent announcement is promising to change that. The project’s Harmony Blockchain-as-a-service offering has been approved for deployment by Equator – a mortgage software firm.
The benefits that a blockchain would bring to Equator have been shared in a press release. The company states:
The addition of Factom’s Harmony provides Equator customers the opportunity to incorporate the recordation of data, documents and key audit events onto Factom’s blockchain solution. Factom’s Harmony provides options for individual loans to be tracked as individual chains of data on the blockchain. This design allows Equator PRO customers the option to embed blockchain preservation into their various workflows, allowing for an immutable and encrypted blockchain audit record to be built for each loan and each workflow step.
Driven by the positive news, the coin has seen a price rise from $4.38 to $9.40 in just a week, with today being the highest trading volume day for the cryptocurrency in more than 8 months. Even more impressive is the jump in satoshi value – at the time of writing is triple that of last week.