As blockchain technology expands across industries, new applications of distributed ledgers and smart contracts are arising almost every day. Today is no different.
Firmo — which specialize in bringing financial contracts to the blockchain — has created a cryptocurrency infrastructure with the launch of its contract engine today. Providing exchanges with a significant degree of safety and security, the Firmo platform enables the creation of smart derivatives and financial instruments, something that hardly exists on most blockchains.
Founder and CEO Dr. Omri Ross is an assistant professor in Blockchain Technology at the University of Copenhagen and holds a Ph.D. in financial mathematics from the University of Cambridge. In essence, the idea is a simple one.
Firmo acts as a protocol layer and offers all the major blockchain platforms, exchanges, and liquidity networks, such as Bancor, the ability to construct automated financial contracts that are enforceable. “We support most derivatives traded on the traditional markets,” Ross told me.
“This includes options on a variety of underlying futures and swaps on digital assets. The importance of running such products on the blockchain is that it will offer a decentralized solution for these markets. Read more from venturebeat.com…
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