Polymath, found online at Polymath.network, is an interface that provides a connection between financial securities and the blockchain. Find out how it works today in our review.
What Is Polymath?
Polymath is a blockchain-based platform that aims to link traditional financial securities with blockchain technology.
Here’s how the official website explains the platform:
“From creation, to issuance, to fundraising, Polymath guides issuers through the complex tech and legal process of a successful token launch.”
You can view a demo version of the platform in action online today through the Polymath.network website.
Polymath is currently preparing for its own ICO, which will take place at the beginning of October 2017.
How Does Polymath Work?
Polymath is built with the belief that asset-backed securities are “hurtling towards the blockchain.” The developers believe the “stampede is imminent.” When that stampede occurs, traditional assets are going to need a way to securely link to the blockchain.
Some of the targeted securities for the Polymath platform include assets from the worlds of private equity, debentures, derivatives, and venture capital.
Today, launching a securities-backed token can be a difficult experience. There’s a limited ecosystem available and there are limited compliance mechanisms in place. It’s hard for a company to securely link assets to the blockchain without compromising compliance or the security of the assets themselves.
Even when securities are listed on the blockchain, they have limited liquidity because conventional crypto exchanges refuse to list securities tokens (in fear of being targeted by regulators).
That’s where Polymath sees an opportunity. Polymath describes its platform as a “one stop shop for securities token projects.” The platform is built with all of the following features in mind:
- Collaboration: An active global community.
- Regulatory: Polymath will provide compliance in a box.
- Creation: Launch a securities token (ST) in minutes.
- Fuel: The network is fueled by the PLY token.
- Liquidity: Polymath aims to be the world’s first ST-only exchange.
Overall, Polymath wants to do for ST projects what Ethereum did for ICOs and digital tokens.
Polymath relies on four layers to create its securities token ecosystem, including all of the following layers:
This layer is where compliance begins. This layer uses an Ethereum smart contract to provide KYC/AML accreditation from the ground up.
The application layer allows firms to create a securities-backed token in minutes. The platform has a “Create-A-Security-Token Wizard” to walk users through the entire process.
This layer includes a suite of legal tools companies can use to ensure they meet compliance standards. Regional delegates serve as legal touch points for Polymath projects, helping walk companies through the entire process.
The Polymath Exchange Layer is the closed-ended KYC compliant on/off ramp to the Polymath ecosystem. It offers instant liquidity through an ST-only exchange.
The Polymath Token Sale
The Polymath Token (POLY) is a utility token for issuers, investors, and developers. The token will be used to access, use, and further develop the Polymath network.
Issuers will pay a POLY fee to create and issue securities tokens. Investors will pay a POLY fee for KYC/AML verification, and to interact with the Polymath network (buying, selling, and trading STs will incur a POLY fee). Developers, meanwhile, will receive POLY to continually evolve the network.
Detailed information about the Polymath ICO has not yet been launched online. However, you can visit Polymath.network for the latest information about the project.
Who’s Behind Polymath?
Polymath is led by Trevor Koverko (CEO), who has two successful Silicon Valley exits to his name. He also founded DAI, a world-leading private equity firm focused on acquiring ultra-=profitable websites.
The company was co-founded by Chris Housser.
Polymath aims to provide a secure, easy-to-use securities trading platform built on the blockchain. The project aims to do for securities tokens what Ethereum did for ICOs and digital tokens – it makes it easy for companies to launch securities-backed tokens. the ultimate goal of Polymath is to create a highly liquid securities token-only marketplace.
To learn more about Polymath, or to stay up-to-date on the Polymath project, visit the company online today at Polymath.network.