Blockchain provider Factom Inc. and financial analysis platform developer Intrinio have announced that they are working on a joint project with the aim of storing Wall Street data on the Factom blockchain. Every 15 minutes, the pricing data for the 3,000 most valuable US stocks are now being published into the Factom blockchain, providing not only an immutable record of the data but also allowing fintech applications to be developed around it.
Developers can use these data streams to enable smart contracts and audits open these massive real world data sets to a wider audience. The Intrinio and Factom teams are publishing what they deem interesting and important data sets as a public service. It presents a new way for applications to verify and audit the world’s financial systems with more transparency and confidence than previously.