Canonical Ledgers works with the other Authority Node Operators to stand up a robust and decentralized network for Factom’s M3 codebase and participates in organizing and developing the Factom community and ecosystem. They have published code for a Discord Factoid tipbot, and an add-on for the Factomize forum that secures posts with Factom. They contribute to node monitoring systems, the Factom codebase, and documentation of best practices for Factom server architecture. Finally, they are developing a web store for purchasing Entry Credits, the non-transferable token used to pay for entries to the Factom blockchain. Directly purchasing Entry Credits with USD, allows businesses to avoid the tax implications of first purchasing a cryptocurrency like Factoids.
“We help integrate blockchain based data authentication and validation into a company’s workflow.”
Who is Canonical Ledgers?
Canonical Ledgers is a small team of developer/engineer/entrepreneurs who are passionate about making distributed ledgers work in the real world. Their vision is to build better user experiences of blockchain ledgers for high value industry applications. Canonical Ledgers views running an Authority Server as direct way of supporting Factom that allows them to pursue Factom integration development opportunities. They’ve been involved in the blockchain space for a number of years and are excited to be taking the next step in making it their full time careers.
Canonical Ledgers project/s timeline
How does Canonical Ledgers further the Factom protocol?
- Canonical Ledgers just completed an add-on for the Factomize forum that hashes everyone’s posts onto the Factom blockchain. This is currently in closed beta testing and is expected to be deployed on factomize.com within a month.
- They’re investigating hardware approaches to authentication of real world goods on the blockchain. They are investigating the technology and the market opportunities. Fake products present a major issue in niche designer markets where people pay a premium for a genuine product. There is currently no solution for consumers to verify they’re getting genuine product. Canonical Ledgers is interested in finding hardware solutions that tie the real world into the Factom blockchain.
- Canonical Ledgers expects to be officially onboarded as an Authority Node on mainnet in the next couple weeks from publish date.
Represented by Samuel Vanderwaal (@archaeopteryx#7615 on the Factom Discord server), is a guide in the Factom community. Being a guide involves contributing to governance discussions as well as working on documentation, facilitating meetings, votes, decisions, group conversations, and generally doing whatever needs to be done to keep the Factom community healthily moving forward.
The projects that Canonical Ledgers is working on, like the Factomize
forum add-on, demonstrate the feasibility of integrating blockchain security into an application. The more applications built on top of Factom, the greater the demand for Entry Credits and Factoids.
What industries does Canonical Ledgers believe the Factom protocol could serve best?
They’re excited to see what develops more in mortgage and loan industry, these industries have massive potential for usage of entry credits. They’re also very interested in ways to tie real world objects to an identity on Factom to help prevent forgeries and establish brand authenticity. This could apply to many areas from supply chains to fine art and high end brands.