Building robust financial applications
The collaboration was created to, so that data for 3000 most valuable US assets, were published on the Factom blockchain every 15 minutes.
Developed by Factom, after this step, they were far ahead of most of the institutions working within the blockchain industry. This statement is based on the fact, that they are using real data, what is valuable and relevant, since developers can use these data streams to implement smart contracts and early checks.
David Johnston , chairman of Factom, He speaks:
“Intrinio, providing financial market data to Factom, helped us build foundational datasets for our users to validate their financial statements. By posting all these different stock prices , Factom developers
now have a reliable way to build their financial apps, since blockchain is stored forever on a distributed basis, this is a resource , which grows every day and the knowledge of the past is always available for verification,”.
Improving the available APIs
Rachel Carpenter , CEO of Intrinio, He speaks , what are the most promising FinTech entrepreneurs , usually , limited access to the financial data market, due to high prices and commissions, but in cooperation with Factom we can change this situation.
He explains:
“We offer easy-to-develop APIs, which are accessible, for reputable firms and startups, and also have a leading position in the industry, when it comes to flexible terms. Zero fees and commissions mean, that developers can easily and quickly deliver data to end users “.
Carpenter talks about, that the application of this flexibility can be seen in various applications already built with Intrinio data, and they are especially interesting for such companies, like Factom, who use Blockchain technologies.
He concludes:
“Financial data has never been saved or structured in this way before, like now and, this is just the beginning. I look forward to when you combine the power of the flexible, available APIs, financial data with the revolutionary nature of Blockchain. This will fundamentally change the way, through which investors see the market “.
