Quick Information
- Name of Startup: Worldwide Futures Exchange Project (WFX)
- Year Founded: 2022
- Type of company: Financial Blockchain
- HQ Location: Anywhere in the World but presently Lancaster, PA, USA
Startup Founders:
‘Richard Griffiths Smith Jr. – Financial Futures Specialist
Mike Brunt of Eugene Oregon – Blockchain Expert
Startup one-liner:
A futures exchange for every country in the World on one blockchain platform.
Problem the startup solves:
WFX solves the following 1.) increases currency trading on a transparent regulated exchange. 2.) creates more comprehensive and accurate hedges and financial/product protection in multiple currencies. 3.) enables a hedger to be able to seamlessly spread or cross any two or three commodities or stocks in any currency at the push of one button on one exchange. 4.) enables smaller or developing countries to increase the depth and breadth of their financial markets and to gain access to the center stage of the world economy along with the larger industrialized nations. 5.) enables the world to have an independent global reserve currency, which is only made possible through TheSmithMatrix. 6.) enables the world to have a carbon emissions allowance futures contract that can trade simultaneously in 150-plus currencies or trade in one independent global commercial currency, thus having a significant positive impact in the reduction of global greenhouse gasses. 7.) creates a global exchange where data mining on that exchange can give a continuous instantaneous glimpse of the status of the entire global economy. 8.) creates an exchange that more accurately prices all standardized values in the world in any currency under a price parity system instead of under a linear pricing system. 9.) creates a mechanism for all currencies to convert directly into all other currencies without having to use the USD as an expensive intermediary.
Progress and current status:
Presently filed for a grant with the National Science Foundation. The NSF asked for clarification which will be provided shortly. Also, I intend to file for a grant with the Web 3 Foundation since the WFX Project will use Substrate and ink technology.
What is a crazy story about the startup?:
R G Smith, the world’s foremost developer of financial futures contracts, started out to solve a currency futures issue and accidentally developed a whole new global financial commercial pricing system which he now has under copyright.
What is a company the startup looks up to, and why?:
The 1903 Ford Motor Company. This company’s leader was visionary. The company was technologically creative and organized and it was a successful financial risk based on facts.
The company in four years will be…
Worth 4 billion USD.
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October 3, 2022 at 11:44AM by Tom Heien, Khareem Sudlow
