David Johnston’s new Yeoman’s Growth Capital will invest exclusively in live blockchain projects.
The U.S. Department of Homeland Security (DHS) has awarded a grant of $192,380 to blockchain project Factom to support beta testing of a platform aimed to secure data from Border Patrol cameras and sensors, the agency announced Friday.
“The early phases of Factom’s work has informed architecture choices and design decisions inherent in integrating blockchain with existing technologies,” said Anil John, Identity Management Research and Development Program Manager at the DHS Science and Technology Directorate, in a news release. “In Phase IV, Factom will deploy this technology in a realistic field environment with Customs and Border Protection (CBP) to understand its operational impacts.”
Factom, a Texas-based startup, is working on a technology that integrates data collected by the sensors and cameras onto a blockchain, securing data and eliminating the opportunity to spoof, modify or disrupt it, according to the release. Factom’s product will be tested in an environment with limited internet connectivity and variable weather conditions to gauge its performance in a live Border Patrol scenario.
The funding is a fourth tranche of a grant provided to Factom by the DHS in the course of its Silicon Valley Innovation Program, which allows tech companies to apply for $800,000 in funds over a 24-month period.
Currently 23 companies, including Factom, are in process of developing their solutions for DHS with assistance from its grants, incorporating technologies such as the internet of things, unmanned aircraft systems, cybersecurity solutions for financial services, global travel assessment systems, airport passenger processing and wearable technologies.
As reported by CoinDesk, Factom received $200,000 from the DHS in 2016 to begin developing the current project.
“The Factom piece is more along the line of: these devices exist, but how do we build a picture of the identity of this device over time? The blockchain could be the catalyst that allow us to document the changes,” John explained.
Factom has made several successful fundraising efforts over the last three years, raising $1.1 million in a crowdsale in 2015 and then, later that year, $400,000 in seed funding. October 2016 saw $4.2 million raised, followed by over $8 million in an extended Series A round last April.
CCTV image via Shutterstock
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Factom has lost 85% since it reached an all-time high at $122, and found the support at $18. FCT/USD rejected previous support level as well as the downtrend trendline of the previously established triangle pattern.
Considering the fact that buying opportunities appear once the coin has corrected around 80%, Factom could start picking up value in the near future. At the same time, support area between $18 and $12 could be retested, making Factom extremely attractive for buyers.
The upside target is seen at $130, that is confirmed by two Fibonacci retracement levels, applied corrective wave down after the triangle breakout as well as last correctional move down started back in June 2017. On the downside, only break and close below $12 support could invalidate bullish outlook.
Factom have been struggling again Bitcoin for an extended period of time. Although it found the support at btc 0.0015 and started to move higher. While going up it broke above the descending channel and the 200 Moving Average.
However, after reaching the btc 0.0033 resistance it corrected back to the btc 0.002 support, where it is currently trading. Now it is right at the bottom of the second descending channel and formed a bullish divergence, suggesting that the price could continue rising. At the same time, today FCT/BTC broke above the downtrend trendline, which should result in another wave up towards the btc 0.0038 resistance and the first upside target.
The resistance is confirmed by two Fibonacci retracement levels. First applied to the corrective wave after the descending channel breakout, second is applied through a btc 0.0075 high and is 38.% level. The only way Factom could continue the downtrend is if it breaks and closes below the btc 0.0015 support.