Factom is using the underlying technology of Bitcoin - the blockchain - in order to create a permanent, auditable record of data.

This is extremely useful for businesses as they can store documents and have proof of when that document was created/existed, how the document has been updated over time and proof of audit to verify the document. This means that eevry step of a document can be checked and verified, from creation through to its final form.

One of the biggest current use-cases of the Factom blockchain for data storage has been to hash 28,000 books from Project Gutenberg - in only four hashes!