THELOGICALINDIAN - The year 2024 has been abundant for Bitcoin and blockchain technology In actuality some of the best realworld acceptance use cases for blockchain technology came in the anatomy of Factom accepting a acreage anthology accord with the government of Honduras Or that is what anybody was led to accept at aftermost as it turns out the activity is boilerplate abreast actuality accomplished nor is there an official accord amid both parties as of appropriate now
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Factom Jumped The Gun On The HondurasAnnouncement
According to a contempo document that appeared online, there seems to be some abashing apropos Factom’s accord with the Honduran government. Based on beforehand letters – including this Reuters commodity – Factom had anchored a accord with the bounded government to almanac acreage appellation registries on the blockchain, creating accurate and timestamped logs of events.
As it turns out, this is not the case, as there is no official accord amid both parties as of yet. The Honduran government has not committed to alive with Factom, although they are befitting the abstraction on the table for the time being. Paul Snow, Chief Architect of Factom, explained it as follows:
It goes after adage the accuracy abaft this “mangled” adventure should accept been adapted by Factom absolutely some time ago. As the aboriginal adventure was appear by Reuters on May 15, 2015, no one from the Factom aggregation has agitated to adjust the affair over the advance of added than seven months. Additionally, every account aperture that best up this adventure got the advice amiss as well, after so abundant as blockage the facts.
Who is To Blame For The Lack of Rectification?
While there is no alibi for this blazon of apocryphal advertising, Paul Snow continues by advertence how the Factom team “did what the added affair wanted”. To put that affirmation into perspective, both parties accept reaped the allowances from a apocryphal affirmation apropos blockchain technology for acreage appellation anthology purposes. But in the end, these things will appear about to chaw addition in the rear.
Paul Snow charcoal actual assured this activity will appear – eventually – although no accommodation will be fabricated anytime soon. However, authoritative an official affirmation on the Factom blog regarding a accomplished accord may not accept been the best move fabricated by the aggregation so far either.
This adventure puts the abstraction of arising “Factoids” on the blockchain in a new spotlight as well. Based on the account by the Oxford English Dictionary, a factoid can additionally be “an account of capricious advice that is again so generally that it becomes accustomed as fact”. The additional account seems actual applicative in this regard.
What are your thoughts on this story? Should Factom accept appear a alteration so abounding months ago? Let us apperceive in the comments below!
Source: Google Docs
Images address of Factom, Shutterstock
