Factom is creating a protocol to make Bitcoin 2.0 applications run faster, cheaper, and with much less bloat.
Building an application on top of the powerful Blockchain presents developers with a few core problems:
1) The system wasn’t built for real-time applications
2) The costs get prohibitive as transactions pass a few thousand and
3) The blockchain wasn’t built to handle the massive number of transactions that Bitcoin 2.0 Developers want to secure with the system.
Factom is built to solve these problems.
Factom is located in Austin, Texas, one of the hubs of BTC development.