Bitcoin start-ups come together

Two start-up companies, Tether and Factom, have announced that they are entering into a partnership so as to further each other's business development goals through the application of Bitcoin technology.

Tether aims to use the blockchain to represent fiat currency and also conduct transfers while Factom uses blockchain technology to secure and timestamp documents and verify other business processes.

As a result of the collaboration of the two firms, Tether will be able to leverage Factom's technology to make its processes transparent and to provide a verifiable audit trail. Factom on the other hand, will be using Tether's technology for "asset allocation strategy".