FIRMO: Secure Execution of Financial Contracts

in #originalworks • 7 years ago (edited)
The dynamic nature of international financial markets has led to the widespread use of a wide variety of financial instruments, from traditional primary instruments, such as bonds, to various forms of derivative instruments, such as interest rate swaps.

As we know, a derivative financial instrument is a financial asset or liability that changes its value in response to changes in the price of an indicator.

In the world of intelligent contracts, it is essential to implement referrals at the right time due to the changing dynamics of the digital world. So when we face platforms like ether where the tokenized assets are our north, we must have the resources that allow us to adapt according to the fluctuations of the value of the cryptomonedas and in order to achieve the best agreement between the negotiating parties and achieve the desired benefits, this supported in a solid decision-making criterion.

It is very difficult for a regular user to create or update a derivation of an intelligent contract at the precise moment, since it must resort to expert Blockchain programmers to achieve this goal.

"Firmo aims to build an infrastructure to create / execute financial contracts. Firmo will take the key components of smart contracts, such as their trustless and transparent nature, to the world of finance ... "

Firmolang provides users (without the need to subcontract Blockchain developers) the ability to write the necessary derivations in their intelligent contracts through a programming language that despite being simple and simple syntax of the domain, is formally verified by systems of security implemented for the control of flight of airplanes and traffic of trains.

This allows time savings and optimization of the capital invested, as well as lower energy consumption of the Blockchain platform.

With such a strong platform, attacks on the security of financial transactions are minimized, taking into account that almost half of the smart contracts written in Solidity present errors of redundancy and vulnerability to hacking.

Compared with Solidity, Firmolang is superior in three major aspects:

1- It is safer.

It has a specific domain and formally verified language.

2-Simpler.

The protocol used by Firmolang allows you to develop contracts with fewer lines of code, or use predetermined templates.

3-More Versatile.

Firmolang works with any Blockchain, currently works with Ethereum and is in talks with other important blockchains such as Neo, Cardano and Qtum.

As in any negotiation, smart contracts are based on trust. This aspect is very difficult to handle due to the high percentage of hacks present as DAO and Parity Wallet. Focusing on this aspect, the Firmo community supports its transactions in the zero guarantee coverage protocol, for which there should be sufficient trust between the parties and following a basic protocol developed by Firmolang that consists of three simple steps:

In addition to having a specific domain and formally verified language, Firmo also has the support of prestigious investors such as:


Investors


For all of the above, the firm will be consolidated as the financial platform par excellence for the development and support of smart blockchain contracts based on the exchange of cryptocurrencies.

More Information & Resources:
Firmo Website
Firmo TechnicalPaper
Firmo Telegram
Firmo Reddit
Firmo Twitter
Firmo Facebook

Contest Organized by @originalworks

Firmo2018

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7 years ago in #originalworks by
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     7 years ago 

    ufff Juan, success!

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       7 years ago 

      Hi again,

      Just read your post about effect.ai and decided to check your profile just to realize that we seem to share a number of interests :)
      In particular that we both share a similar passion towards cryptocurrencies and blockchain technology :)

      Thx for that quite informative post. Keep up with creating interesting content.
      I know it's hard at the beginning to build solid follower base. But just don't give up. Steemits needs solid content builders.

      (i upvoted over 30 posts today and my voting power is very low, so I cannot upvote your post this time around, but I will follow you closely).

      yours,
      Piotr

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         7 years ago 

        Hello friend @crypto.piotr!
        Here´s my last entry in originalworks in case you're interested in having a look.
        Greetings!

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