FORMO: BUILDING AN INFRASTRUCTURE FOR CREATING AND EXECUTING FINANCIAL CONTRACTS

Have you heard about Firmo? Okay! Let me start by saying that Firmo is a blockchain which aims to build infrastructure for creating and carrying out financial transactions. And guess what they are bringing to the table, top notch smart contracts and trustworthiness and transparency to the sphere of financial transactions. Here is the link https://www.firmo.network/

Thanks to Bitcoin which was introduced by Satoshi some years back and it has helped to decentralise digital currency which has helped immensely to the acceptance of digital currency. Ethereum has helped to heighten the development of decentralised monetary system which has a virtual machine that supports good contracts on blockchain without involving the third party.

FIRMO LANGUAGE

Firmolang is made in simple to understand and use and it is also secured this because produce secured codes.

Firmolang is built having in mind that financial instruments are reducible to the triad of series of transfer of values between different counterparts at a given time space taking cognisance of the set conditions like the price on the market. FirmoLang can be compiled to any Blockchain but currently they are working with Ethereum, but are exploring other strategic partnerships.

FIRMO PROTOCOL

This is built of Firmolang and what does it do? What it does is that it enables the users to create smart derivatives. The Firmo Protocol is well designed to operate with a diverse selection of external funds providers and excahnges. This Firmo Protocol is really making way for the logical changings of the crypto markets.

FIRMO DERIVATIVES

Derivative are set financial tool that allows individual and companies to secure a price point within a certain period of time. This will be helpful to the business if speculation has it that the price will rise or fall. Derivatives is useful to very person going into business or in business venture who believes that a certain asset will rise in value. They can secure the current price point and benefit from price discrepancy

Customised Derivative:The Firmo Protocol enables users to formulate customized smart derivatives in FirmoLang by navigating to the console in the user interface.

Template Derivative: Firmo will offer a set of template contracts. The template contract will be written in FirmoLang and customized to the service offered by the institution partnering with them.

ZERO COVERAGE

This is when little or no collateral is needed. Circumstances determines situations to use zero coverage. When smart derivatives are executed on permission infrastructure or when there is so much trust between the parties.

“FIRMO2018”