Firmo Protocol enables secure execution of financial contracts on any blockchain through "FirmoLang" it's coding language.
FirmoLang is a formally verified language to define financial instruments like derivatives, peer to peer lending and prediction markets.
The goal is to allow anyone to create simple and secure financial contacts (e.g. derivatives) on any blockchain - and it's somewhat crazy that no one thought of this before.
The most interesting part is that while it works now on Ethereum, this is a Blockchain agnostic protocol, meaning it can work with ant blockchains like NEO, QTUM, EOS, etc because FirmoLang is external to the blockchain and Firmo writers compilers between the language to create financial contract to different Blockchains.
In other words, this can be the protocol that leads the derivative market (1200 Trillion Dollars) and moving it to the Blockchain.
Almost 50% smart contracts written in Solidity (Ethereum language) have vulnerabilities, redundancies or errors.
The way it works is simple - you simply write the terms in plain English and the system will compile a working contract between the parties without need for an exchange.
Team and Advisors
The core team is big and strong (Omri is a pioneer that wrote Bancor's technical whitepaper) and solid but i want to point something first - Qtum is an investor, which is a great sign. Next, the advisors part - we can find there Shelly Moyal, a managing partner of the biggest Israeli fund, Nadav Dakner from InboundJunction/MarkerAcross, Stas Oskin & Sebastian Stupurac of WINGS and more Academic Professors on top.
ICO
The date is not known yet so you should register to website.
Important links:
- Website: https://www.firmo.network/
- Whitepaper: https://www.firmo.network/resources/technicalpaper.pdf
- Telegram group: https://t.me/firmonetwork
This way users can simply create financial derivatives on any blockchain. In the future, if they decide to switch from one blockchain to another. They can just ask Firmo to produce their code on another blockchain.
This post is just an information. As always remember to do your own research before investing in anything.
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Excellent post
Really this is informative post.
By the way, I'm always using block chain and transfering my currency. I think Block chain is trustable and usable side. i like block chain.
Whatever, I have never invested in any way. So i have no idea about it. But from now i'm enterested about it and i'll be able to understand for invest.
Thanks for the update information.
upvoted
I have learnt from this. Great one
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Hello sir @kingscrown. I found your article very helpful and informative for people like me, who has zero background in crypto. Reading about Firmo made me think about investing in ICO as well.
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Great information
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I really like what Firmo is trying to achieve it seems logical and rational and if done correctly could seduce millions of dollars sitting in old fashioned financial derivatives and move them into a digital marketplace where trading it could be done faster and their value can grow much faster-having access to a global marketplace
I also think Smart contracts are in desperate need of an upgrade its way to clunky and having an expert on hand to keep it running can quickly become costly especially for a smaller business
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