Gates Foundation awards Factom a grant for blockchain development

The Bill and Melinda Gates Foundation awarded a grant to Austin, Texas-based Factom, a blockchain technology company, according to Bitcoin Magazine.

Through the grant, Factom hopes to continue to ensure medical records remain secure, easily accessible and dependable.

"Our goal with this new partnership is to demonstrate how global identity and record-keeping as a public utility is possible. We hope to show how individuals can manage important, private records like medical records using very simple tools and a lot of backend cryptography," said Peter Kirby, cofounder and CEO of Factom.

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