Factom and Hangzhou Ancun Zhengxin reach blockchain technology cooperation

On February 16, 2016, blockchain company Factom and Hangzhou Ancun Zhengxin Technology Co., Ltd. (hereinafter referred to as "Ancun Zhengxin") jointly issued a memorandum of cooperation, and the two parties reached a cooperation intention on the integration of Factom's blockchain technology and Ancun Zhengxin's electronic data certification services. In the future, Factom will be responsible for providing commercial and technical support, and Ancun Zhengxin will use blockchain technology to further expand the company's business strategy and work together to create an honest information world.

Factom will provide Ancun Zhengxin with a blockchain system interface as part of its notarization service backend operation. By connecting with its business system, it will be promoted in more than 100 regions in 28 provinces and cities in China. The two parties will jointly hold the first market promotion in February 2016.

The Internet continues to develop rapidly in China's economic construction, and electronic data has become an indispensable part of infrastructure construction, economic transformation, social development, technological progress, and international exchanges. Ancun Zhengxin hopes to provide a one-stop electronic data custody and certification solution through Internet technology, aiming to effectively solve the order and integrity construction of the Internet virtual world. The blockchain technology used by Factom will help maintain a secure custody, electronic data network based on timestamp records, and will improve the transparency of the data certification process, while clarifying ownership and saving costs.

Mr. He Bin, technical director of Ancun Zhengxin, said:

Our core business is to provide one-stop electronic data custody and certification services through Internet technology. Through cooperation with Factom, we hope to accelerate the introduction of blockchain technology and further enhance and promote the comprehensive promotion of technology preservation in the industry.

Jack Lu, Chief Technology Officer of Factom, said:

We are very honored to work with Ancun Zhengxin. This cooperation will help us advance our business strategy in China and jointly maintain and build an honest digital society and information world. We look forward to more cooperation opportunities in the future.

Ancun Zhengxin is affiliated to Hangzhou Ancun Network Technology Co., Ltd., which is responsible for the construction, technical development and technical maintenance of the open platform for all its services and products. As an advocate of China's electronic data certification and Internet (Internet +) construction, Hangzhou Ancun Network Technology Co., Ltd. has established connections with more than 100 regional notary offices across the country and has developed eight product systems, including voice, email, vouchers, contracts, copyrights, e-government, medical data, and instant messaging, which are widely used in various industries.

Factom's products help enterprises and government departments to obtain data security by using blockchain technology, without being bound by the inherent scalability limitations of blockchain technology. Currently, Factom is using this technology to help government departments and financial institutions establish various system interfaces to achieve secure recording and management of data. The company is headquartered in Austin, the capital of Texas, and has established offices in California, the United States and London, the United Kingdom.