Intrinio + Factom Announce Collaboration
Immutable US Stock Market Data Is Now Available To the World
Austin, TX (August 23, 2016) – Factom Inc. and Intrinio are putting Wall Street 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. This is an exciting new development for the blockchain technology space as it will enable a whole new generation of fintech applications to be developed.
Many in the space have announced proofs of concept, while Factom has charged ahead using real data that is valuable and actionable. Enterprising developers can use these data streams to enable smart contracts and audits. These massive real world data sets are now open to a wider audience because the Factom system does not have the same core limitations that other blockchains experience around data size or the number of entries.
The Intrinio team along with the Factom team have taken it upon themselves to pull in interesting and important data sets as a public service. It offers an amazing way for applications to verify and audit the world’s financial systems with more transparency and confidence than ever before. If you would like to have a data set added to the Factom blockchain, reach out to [email protected].
“Intrinio is providing financial market data to Factom helping us build the foundational data sets for our users to audit their financial records. By publishing all these different stock prices on Factom, developers now have a reliable way to build their financial applications, and since the blockchain is stored forever on a distributed basis, this is a resource that grows every day and the wealth of past knowledge is always available to verify, without everyone having to store the data locally in their application,” said David Johnston, Chairman at Factom Inc.
“The most promising Fintech entrepreneurs are typically restricted from the financial data market, due to both high prices and massive redistribution fees. Intrinio is changing that. We provide developer-friendly APIs that are affordable, for established firms and startups, and lead the industry when it comes to flexible terms. Zero redistribution fees mean developers can easily and quickly pull data through to end users. The applications of this flexibility can be seen in the diverse apps already being built with Intrinio data, and are particularly interesting for companies like Factom that are utilizing Blockchain technologies. Financial data has never before been stored or structured this way, so what we are witnessing is just the beginning. I’m eagerly anticipating the innovations we’ll see when you combine the power of flexible, affordable financial data APIs with the revolutionary nature of the Blockchain. It’s fundamentally changing the way investors see the market.” Stated Rachel Carpenter CEO of Intrinio.
You can see the growing number of entries for Intrinio in the below chart.
Intrinio built its API and pricing model to appeal to application developers looking for specific data types at a price point that is profitable for the developer. Test and build using 500 daily API calls for free indefinitely, then as your business ramps up select from paid plans. Fundamental, economic, price, and earnings estimate data does not get more affordable or easier to integrate, and support staff is available via instant chat. For more information on Intrinio, visit intrinio.com.
About Factom Inc.
Factom Inc. is at the forefront of the blockchain revolution. Governments and corporations find Factom to be a relevant solution to many pressing data security problems. The Factom data layer integrates into existing systems and makes them immutable, extending the transparency inherent within a blockchain, validated by math. Developers can now create a new level of trust and transparency with real-world implications on the open source Factom platform. For more information on Factom, visit us at factom.com.