What is FirmaChain?
FirmaChain was announced on April 12, 2018 by an enterprise based in Singapore and Korea. FirmaChain seeks to solve most social and legal problems (contracts, notarization, etc.) through written contracts. It does this using FirmaChain's documented blockchain electronic contracts. E-Contract is an electronic contract processing platform. This is a DApp extended by FirmaChain. E-Contract will be available via Web & mobile. This is a platform that specializes in providing services from contract opening to payment and many other processes required for online contracts.
FirmaChain was born for what purpose?
FirmaChain aims to use its own network to lead the transformation of all social and legal action based on papers. Such as contracts and notarization into a clear and transparent electronic platform. Their original DApp was Duite. It is a blockchain-based digital contract platform that can bring many industries together.
They also recently introduced Duite to DeFi to provide a more structured and secure way to sell financial products. FirmaChain token is FCT2. This is an ERC-20 platform-based token that is primarily derived from the FirmaChain platform. FCT2 is an essential token when you use any service related to FirmaChain. FCT can be used to pay fees for Duite and any future dApps developed by the Firma network. The main purpose is to exchange for FDR – a much-needed token to store the decentralized data of FirmaChain. Not only that, it is also used to store many short strings that require stricter and integrity standards.
Forgery and Tamper Proof: Due to the nature of blockchain, once contract data is uploaded, it can't tamper with.
Electronic Signature System: donue's system is built according to the digital signature standard allowing for non-repudiations in contracts.
Streamlines Contract Procedure: donue streamlines the processes associated with entering into a contract thereby, reducing the resources required in managing a contract
Submit as Evidence: Forgery or tampering of an electronic document in donue is impossible and therefore, can be submitted as evidence in case of legal conflict.
Extended Features - SDK: By utilizing the API or SDK of Firma Network, it is possible to make Decentralized Third-Party Apps.
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