In recent days we have seen positive developments from multiple blockchain projects. Both Factom and Stratis have announced positive developments regarding their growth.
Veterans in the industry – compared to most- both companies have navigated the rocky waters of 2018 in an effort to remain productive. Their efforts are now paying off.
This UK based company was well known in 2017 for their potential. They are now becoming a talking point amongst investors again, as their platform is taking shape.
With the majority of their roadmap accomplished, we are now seeing the fruits of their labour.
Earlier today a partnership was announced between Stratis and UK Meds. Acting as an online pharmacy, UK Meds is one of the fastest growing companies of its type in the UK. Through their partnership, UK meds will be able to reach new levels of efficiency and security within their operations.
Averaging 3000-4000 prescriptions per day, they are a busy service that act as a perfect company for the implementation of blockchain.
In a statement released from Stratis themselves, CEO Chris Trew stated, “This is a great example of blockchain being deployed where its unique qualities will make a real difference. Using traditional IT solution to solve this issue would require a significant expense and would undoubtedly be administered by a third-party organization. With blockchain, the industry can cooperate on the critical issue of patient safety using a shared version of the truth.”
Not to be left behind is Factom. Although not a flashy as many of the upstarts seen within the industry, Factom continually trudges along with their development. From government adoption, to patent filings, and even recognition by courts, Factom continues to be active in ensuring their place within the industry.
Much like Stratis, the company has completed their roadmap, and is actively working on acquiring consumers for their platform.
In an announcement made yesterday, it was divulged that a customer has officially come on board the Factom Mainnet via Sphereon. This customer is expected to complete over 1 million transactions/year. These transaction will be due to the signing and anchoring of incoming documents. This process allows for the verification of both authenticity and existence of said documents.
This development was made possible through the combined efforts of both Sphereon and Factom. While Sphereon offers a gateway service for integration with blockchain services, it is Factom and their tech that is completing the actual verification/authentication of documents.
Finishing off their announcement on another positive note, Sphereon Co-Founder Maarten Boender stated, “Although this is the first Sphereon customer to go into production, it is a major milestone for us and the Factom community. We expect two additional customers to go live and into production this month. With more to follow.”
Down but not out
Although each of these companies have been hit hard in the bear market of 2018, they are a couple of a select few that have continually made progress in this time. They may fly under the radar and not be as ‘flashy’ as new entrants to the market, however they have proven to have staying power. With their platforms completed and live, look for more partnership announcements such as these in the coming months.