The Factom Protocol describes itself as an 'open source, decentralized data integrity protocol built by an international coalition of companies that extends the security of blockchain to any data type'. The protocol is reportedly easy to integrate with any system, thereby providing a low, fixed cost source of indisputable truth and verification for business and government.
The fixed cost and dual token design of the protocol reportedly enables subscription models where customers do not have to hold tokens despite their being used automatically in the background. The team views the Factom protocol as a global utility for companies to provide seamless access to applications with no unnecessary interaction with the integrated, underlying technology.
The vision of the team is for the Factom protocol to 'enable a future where users are able to trust their documents, digital data, and all network connected “things” while allowing developers to create new, world-changing applications'.
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