[Latest] Why is the price of Factom (Factom / FCT) rising (soaring)? A blockchain has been recognized as evidence for the first time by a Chinese court!
Factom (FCT) Price Surges!
Factom (FCT), the cryptocurrency traded on Japan’s CoinCheck exchange, has seen its price surge since the afternoon of January 21.
On January 21, the price was around 650 yen, but it jumped to a high of 1,050 yen in a single day, and on January 22 it hovered around 900 yen.
Now, let’s look at the latest news behind the price surge.
Reasons for the Factom (FCT) Price Surge
In short, the price surge is due to the fact that, as evidence of copyright infringement litigation in China, Factom’s blockchain has been accepted as evidence.
In other words, for the first time in China, a blockchain has been recognized as evidence in a court.
First, on December 3, Yooya, a Chinese innovation investment company, adopted Factom to achieve an immutable record and verification of online video content performance in China.
Subsequently, Factom Harmony, which enables data integrity and reliability to be built into applications and systems, was launched.
According to South China Morning Post, a major Chinese news outlet, Beijing-based Bytedance’s short video app Douyin in China has developed a copyright infringement lawsuit seeking about 1 million yuan (about $145,600) in compensation for unlawful operations and downloading short videos from Baidu’s Huopai Video platform.
This ongoing case has led Factom’s blockchain-based evidence to be recognized by Chinese courts, contributing to the price surge.
【Table of Contents of this Article】
Table of Contents [Close]
1: Factom (Factom/FCT) Price Surge!
2: Reasons for the Factom (Factom/FCT) Price Surge
3: Chinese Courts Value Blockchain Highly
4: Positive Global Moves Toward Blockchain
5: Cryptocurrency Developments in China
6: Reputation of the Factom Price Surge
7: Exchanges with Strong Factom Trading
8: Articles About Factom
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