The financial world shakers and economic moguls have always found their way around getting things done. I mean, that's what they do best- twirling numbers into living figures and then into paper carts, to be transported or exchanged from corners to corners within the frontiers of the world whilst, consequentially, making things happen. Indeed, in the conventional world of finance, nothing slips the shrewd hands of the human conveners. And then, even when "mistakes happen in the conventional financial markets, we trust our service providers to resolve the issue." (Firmo Technical Paper.)

But presently, the world is far from being conventional. With the integration of cryptocurrencies, beginning with Bitcoin into the world of financial markets and investments, nothing is ever so conventional. At least, only now do we hear of smart contracts executed on the blockchain technology. Ethereum taking the lead in this case has extended what used to be a buy, hodl, and sell affair into a large decentralised economy that thrives on price values, its fluctuations, strategies and the mechanisms that govern its several exchange and transfers.

But there are still a lot of i's to be dotted and a lot of t's to be crossed - issues about speed, scalability and energy efficiency. But all these are rarely as important as the one abiding question, "when will it all come together? When will the cryptocurrency markets evolve into a real financial world that performs legible, logical financial transactions that are on par with or exceed the success rate of the conventional economic stage?

True enough, the blockchain is nearly not as concrete as the real world with its real time. Being virtual, it is highly abstract, fluid and vulnerable, but the potential possibilities inherent within the blockchain cannot be largely ignored, hence the clamour for "an alternative infrastructure for financial contracts [which is /will be) transparent, fair and trustless" and which will be given to little or no mistakes with regard to "the construction of smart contracts, a technology that is supported by a vast network of nodes in consensus" (Firmo Technical Paper)

In one word, every crypto enthusiast and profiteer have all been waiting for a financial service provider on the blockchain that will fill up the lapses of the blockchain financial runnings. Well, there is one now and it sure is here to stay.

Firmo, thank you for not making us wait so long.

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The Firmo Protocol

Simply put, Firmo is the next big thing that is about to hit the waves of the financial cum cryptocurrency industries. Not that the finance world has not had enough shooting stars hitting its waves, but Firmo coming all the way down into the world of cryptocurrency to ensure that financial contracts are easily carried out on the multiplicities of blockchain available is more than a shooting star. It's a comet. With Firmo, all the whole world of good that the blockchain is bringing to the global stage channeled into the world of finance, and vice versa.

Hence, right there on the blockchain, financial contracts and transactions can now be seamlessly carried out in a trustless, fair and transparent way. This is pretty much what the blockchain promised at its arrival- transparency and a trustless transactional mode, that requires less and less the involvement of third parties. With Firmo, the blockchain can live up to this promise.

And to make this happen, the Firmo Protocol has stepped on the grid. With the Firmo Protocol, financial institutions or individual businesses can perform financial contracts and smart derivatives (coming to this later) which is then compiled unto the Ethereum Virtual Machine. By implication, Firmo acts as a financial broker or conduit for target users, and mediates in all your financial contracts on the virtual space! But being a trustless provider, they do not interfere in your bad jokes and good rapports neither does the system allow for any such interference by third parties, as is common with conventional financial practices.

Any person or entity that is tokenizing an asset class using an Erc20 format,can utilize the Firmo Protocol to create secure smart derivatives or other financial instruments in the proprietary programming language.... This makes the Firmo Protocol an obvious choice for cryptocurrency exchanges, financial institutions or individual users looking to create secure and automated financial contracts on distributed infrastructure. (Firmo Technical Paper)

Recognising itself as a turning point, Firmo aims to travel beyond and above the soil of the Ethereum blockchain, and transcend into other blockchains like NEO and Cardano. With this in effect, Firmo will not just gain visibility or give millions of people the leverage to perform their financial transactions via the virtual, complex and impenetrable cycle of the blockchain, it would mean that the whole financial world will be upturned, no more would anyone have to facet the groggy challenges that comes with performing financial transactions, either via the physical financial markets or on the blockchain. And honestly, this is great news.

Newest language on the Block: FirmoLang

The Firmolang is at the heart of the mantra upheld by Firmo. It is like what Krypton is to Superman or what the Hammer is to Thor or what the newly advanced wrap-around Ironsuit is to Tony Stark as featured in the new Avengers Infinity War (you must agree with me, that suit is in a class of its own. And the film? (firecrackers all over the sky..... ). That suit, with all its state of the art technology will make so much serious sense to some fantasy, sci-fi, out-of-the-world dude. To us in the real world, living in real time, Firmolang is the new, improved Iron man suit.

With the Firmolang, let me quote the FirmoTechnicalpaper, it seems to know how to say it better,

Firmolang is an on-Turing complete domain specific Lang, designed with the explicit intention of diminishing the margin of error in self-executing contract on decentralized platforms. (14)

I know you might still not exactly be able to wrap your head around this entire thing; we are in the same boat, trust me. You know, ever since I saw the movie, Hidden Figures and couldn't understand a thing that was said, except of course, that there was so much jubilation at the end, I knew that I didn't have the head for numbers. But see it this way:

You migrate to a new, exotic spot in the world. And somehow, they happen to speak a language you don't speak. Having a successful, fun filled stay there would mean learning the abracadabras of this new place. In like manner, Firmolang is a domain specific language that makes for "a secure execution environment for financial contracts on decentralized asset-classes." (Firmo Technical Paper). But it is not a hard language that is bound to break your teeth, it is quite simple because the brains behind Firmo believe that "simplicity is security". And in fact, in making this new language accessible and easy, they have incorporated these markdowns:

Free Templates

Ok yes, financial transactions cum the various inbuilt platforms that make them possible do not so much as strike similar chord with any of those email building sites or photo editing softwares that offer free themes for usage. But Firmo, powered by Firmolang, offers template contracts that wouldn't make everyone go a fishing for blockchain developers just so to perform financial transactions on the blockchain. With the easy-to-adopt templates, financial professionals and profiteers can carve out a custom based application to help them perform financial tasks with ease.

What's more? Firmo allows for customized contracts that meets the exact contractual needs of users.

You think you've heard it all? Well, wait for this,

Sky life Security

Ok, so Firmo did not exactly drop from the sky because it wanted to make a perfect James Bond homecoming landing, they actually went up there to pick something up. The security strategies that strengthen airplane coordination. And no, they ain't no technological poachers hunting and taking down security systems to put up for sale alongside the many financial transactions they intend to execute. They simply adopted the method used up there to counter the possibility of security breaches, which, time and again, have been the prevailing problems of the cryptocurrency system. I picked something up from the several cases of compromises within the cryptocurrency space (like the incidents with the Parity and DAO Wallets) - and that is the fact that the porosity and vulnerability of the system is largely due to its over-familiar terrains.

Familiarity, they say, breeds contempt. So, being quite an open-handed territory whose gates are wide open for anyone to feel their hands through its walls of transparency, many have contemptuously scratched these walls and decoded its gleaming enigma.

Firmo will be doing the entire system a favour by Incorporating into its walls, a rather unfamiliar, less penetratable security system. Besides, it's really classy to know that while executing financial contracts, one can very well think of flying, of reaching out into the stars. And oh, did I mention that the whole security system peculiar to our trains were also adapted? So, one could either think of flying into the sky or speeding through tunnels and time. Any which one that catches one's fancy.

Smart Derivatives

We have heard a lot about smart contracts as initially implemented by the Ethereum network. But, what's this smart derivative? Well, simply put, it involves bringing everything that happens out there in the physical financial markets onto the blockchain. Talk of loans, futures, swaps and every form of derivative executed based on price points and values by the external financial markets. What this means for the blockchain is that its full potential will be harnessed head on. Anything that can be done by a hedgefund dude or a conventional financier will be practicable on the blockchain using the template contracts or customized contracts that have been laid out plainly. This is quite revolutionary in every sense of the word, and it obviously dictates the next course of evolution for the world of cryptocurrency.

Zero Coverage

Have you ever been to a bank to collect a loan for the execution of a financial project? Then, you should be familiar with the overarching request for a collateral, something to cover up your tracks in case of a compromise in refunding. With Firmo, you can perform your financial contracts with next to little or no collateral. Hence, you are sure of getting the job done and shaking hands on it even before the transaction is carried out. This freehanded leverage is going to go a long way in shaking the scare off people wanting to perform financial transactions, just as Steemit's zero transaction fee policy created a wave of relief for investors and bloggers willing to circle the cryptocurrency fair.

Meet the Team

Undoubtedly, the technical and advisory teams of Firmo have proven to be a different breed of the financial genus, a breath of fresh air. This is with regard to their willingness to accommodate suggestions, complaints, requests and compliments. The near insistence to join them on Telegram and "ask away" is indicative of this fact. And for me, this statement made in the abstract of their Technical Paper says quite a lot,

"The Firmo protocol is in constant development ,please find the most recent version of this publication on: www.firmo.network​.Please contact the authors at [email protected] ​and ​[email protected] ​with any comments or suggestions. (Firmo Technical Paper)

Omri Ross

Johannes Jensen

Well, just so you know, Omri, surnamed Ross sits at the top of the hierarchical team organization of Firmo and Johannes Jensen is the Chief Economist of the platform.

You can catch the rest of the team by joining them on Telegram.

When it comes to financial dealings both without and within the blockchain, I have heard and had stories that touch. This quite makes me reticent towards matters that circumvent financial tradings. But given my overt examination of Firmo and how it works, something exuberant and ecstatic stirs within me, a telltale sign of positive change. So that for the first time in a long while, it actually thrills me to know that I am a harginger of Firmo and of everything good that is soon to come from its stable.

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You want to know more about Firmo? Why not check out their website, join them on Telegram or simply sit back and read the Firmo Technical Paper?

This post is an entry to the contest organised by @originalworks. Here is the contest post

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