BIF June 2018 update

Blockchain Innovation Foundation (BIF) is happy to report progress this month on the Factom protocol development.

World’s first solution for document scanning with Blockchain pre-release

Last month we announced we tasked Sphereon with the World’s first document scanning using the Factom blockchain.
This month Sphereon finalized development and testing, and just announced the public pre-release of their Blockchain Proof of Authenticity for Kofax Capture.

Kofax Company.png

Kofax is the world leader in providing enterprise scanning solutions. We believe blockchain notarization adds a lot of benefits. For instance:

  • Proving the date and time of when an analogue document has been digitized. Often this is the first moment a document enters a business process.
  • Proving that the digital copy of the analogue document has not been tampered with.
  • Add powerful audit- and compliance capabilities to business processes that start with paper documents.

Knowing the size of this market and the number of documents scanned daily, we believe that these software products can, and will, drive massive amounts of new registrations for the Factom protocol.

Development was done by Sphereon, but the Kofax Custom Module itself will be made available free of charge to Kofax Capture customers. These customers will be charged a usage fee for registration on the blockchain. Kofax Capture itself is of course not free of charge.

Development of the module itself was within budget and time. Sphereon decided to create an account/subscription portal and Stripe payment integration as well (sorry, no FCT accepted yet 😉 ), so the announcement took a little longer than initially communicated.

Short term
Besides the Kofax Capture scanning plug-in Sphereon will also offer a full-blown professional document scanning software solution, ORION ScanIT, with support for Factom.
ScanIT is a powerful workstation scan solution with integrations with several external backend systems, such as MS Office 365, SharePoint, Alfresco, SQL DBMSs, etc.
We expect a release during July.

Several more products targeting the Factom blockchain are currently being worked on:

An easy to use Factom Node firewall solution
BIF is also working to provide an easy to use firewall solution for everybody running Factom nodes on GNU/Linux. This is targeted at Audit, Federated and Follower nodes on both testnet and mainnet. We expect to provide a pre-release of these scripts before next update. We had some setbacks during its development, but we are well under way again.

New Factom Java Enterprise Client Library
BIF has been awarded a grant for the development of a completely new Java Enterprise Client Library for Factom. This library is targeted at enterprise software developers. Using proper design patterns, asynchronous support, documentation and integration for JEE and Spring (boot).
The start of development has been delayed a bit in making the development resources available. These were tied up on other projects that were closing but BIF now started on the library. Currently we expect to deliver on time and within budget.

Financial status
Like all stakeholders we are disappointed in the exchange rate of the Factoid coin due to the general slump in the crypto market. Disappointed, because we would be able to do so much more with a larger budget.
Disappointed, but not worried, because we have planned and budgeted for this scenario and will be able to keep the operations and support for the Authority Nodes running at a high level of performance, efficiency and quality at these or even lower levels for prolonged periods.

We haven't sold any FCT and we are in this ecosystem for the long run.

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