How Factom May One Day Be Utilized By Most Mobile Phones

Factom (FCT) is a cryptocurrency data layer that some refer to as TCP/IP for data integrity. Many feel it is extremely undervalued when compared to other crypto as it solves enormous real world problems and has working products and clients. Factom can be difficult to understand, in part, because the team tends to be very quiet about what they’re doing and working on for strategic purposes. They are the anti-hype coin and those of us who invest in it have to dig deep at times to find information.

Yesterday I came across the Rivetz ICO which is working to create a hardware-based cybersecurity solution that provides proof and assurance of privacy and security at the hardware level. What makes Rivetz extremely interesting is they have gone through the lengthy, arduous, expensive process of getting permission from entities like Intel to access hardware on mobile phones called the, “Trusted Execution Environment” (TEE). It is located in the main processor and is independent from the operating system. Even if the OS has been compromised by malware, the TEE is not. One way to think about this very simplistically is it could make any mobile phone into a Trezor or Ledger like device (and much more). They have a working product that is in the late alpha to early beta stage and Samsung, HTC, LG, Xiaomi, Miezu, ZTE, SONY, Kyocera, already deliver devices that will run the Rivetz trusted app.

When I read about Rivetz I knew I’d heard the name somewhere. It finally clicked that they were already in a partnership with Factom where,

Factom has selected Rivetz to integrate world cyber-security for the Factom applications, and that Rivetz has selected Factom to assure the global integrity of attribute data for Rivetz-protected applications. This collaboration will leverage Rivetz’s Trusted Execution model for the secure protection and processing of data and collection of user intent with Factom’s data layer on the blockchain to provide organizations in the financial, manufacturing, distribution and wholesale industries with the efficient means of verifying processes and registering data.

Upon reading this, I immediately contacted Paul Snow, the Chief Architect of Factom on the Factom Slack where we had the following conversation:

I also contacted Rivetz and received the following response:

As such, if I understand this correctly, in addition to all that Factom already has going for it, they are in partnership with a company that is about to become a very well funded entity that has a working product and access to the TEE of hundreds of millions of mobile phones. And Factom will be part of that ecosystem.

Obviously there is no timetable and anything can happen, but stories like this are part of the reason I’m so bullish about Factom’s prospects. Where so many coins have higher marketcaps that are producing little more than vaporware, Factom is creating products and solutions that are going to see large scale, real-world usage and hopefully use massive amounts of Entry Credits.

Disclaimer: I own FCT and am likely biased. I am not an investment advisor and this should no way be perceived as investment advice. Please do your own research.

Leave a comment