"Factom is a distributed, autonomous layer residing on top of the Bitcoin blockchain. The goal of Factom is to provide the power of Bitcoin’s blockchain to a nearly unlimited range of Applications and uses. Further, Factom is architected such that its users do not need any cryptocurrency whatsoever. A distributed, immutable ledger is the radical, foundational, and unprecedented technology represented by the Bitcoin blockchain. The dream of many is to extend the honesty inherent to an immutable ledger validated by math to chaotic, real-world interactions. By allowing the construction of unbounded ledgers backed by the blockchain, Factom extends the benefits of the blockchain to the real world."
What we don't like:
Factom implemented on of the only token/credit systems that allows prepayment of fees so a public blockchain can be used without a tradable token. This proves that the actual token may not carry its weight in gold in terms of utility, warranting the token useless. We may see in the future, a lot of companies coming out with their own blockchain solutions as well, deeming this project useless as well. The project has been around for a few years without much substantial growth, which is almost an eternity in the fast pace world of cryptocurrencies.
What we like:
Factom helps to ensure data integrity by letting hashes of data to be stored on their secure blockchain, basically converting the data to archivable, secured and cost effective means. Factom is also able to utilize any blockchain it decides to implement it’s goal. Even though this investment may be slow to rise to the occasion; the thing to remember is that factom is an actual company. It is not like most of the other crypto projects out there running on ideas and hot air with an Ethereum token.