Rivetz and Factom announced at last week’s Texas Bitcoin Conference that 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.
The 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 means of verifying processes and registering data.
David Johnston, chairman of the Factom Foundation board of directors said
We are excited to integrate Rivetz’s capabilities to bring world-class protection of users’ identities and private keys as an option for all of Factom’s users. Rivetz is providing a fundamental technology that will benefit all new blockchain-based applications.
Rivetz CEO Steven Sprague stated:
Rivetz is pleased to partner with Factom to bring a new capability to all applications — the ability to store a fact. We look forward to integrating Factom’s capabilities into our solution to protect and attest to the attributes of modern devices for security, convenience and privacy.
Factom uses blockchain technology to innovate how organizations can manage and record their data. Businesses can now reliably look to Factom and Rivetz for highly secure, decentralized record-keeping using their API, without having to ensure their information is being stored in a compliant and private manner.
Data managed by Factom is hashed – a process by which mathematical algorithms encode data into a different form – resulting in an indistinguishable string of alphanumeric characters, rendering information such as names, addresses, transactions and finances impermeable. Only the person who sent the information into the Factom layer is aware of what data it contains.
Rivetz will provide the local environment which assures that the information being protected was what the user intended, and enhances the quality of the hash signatures by incorporating cyber-security controls for the local keys and identity information.