Polymath (POLY)

Polymath (POLY) -
Create Tokens

Polymath aims to provide a blockchain building blocks where companies and businesses can host their own Security Token Offerings, or STOs.

Basic Intro

Name (Ticker)
Polymath (POLY)
Price (USD)
$0.101452265441
Rank
68
Active Supply
423.2 million
Total Supply
423.2 million
Volume (24H)
12.9 million
Marketcap
42.9 million
Fun Name
Create Tokens
Categories
Meta Tags
Website Links
Block Explorer

Graph

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Pros

  • Working platform
  • Solid team

Cons

  • No direct backing (asset, profits, commodity)
  • Centralized
  • Regulatory Team

Review

ICO’s have disrupted traditional ways to raise capital, raising over $4 000 000 000 globally, however, traditional equity markets have yet to participate. Stocks, bonds, private equity and virtually every other traditional asset function better when on the blockchain. Any of those assets can be turned into programmable tokens, which provide advanced security, accessibility and liquidity. Polymath aims to provide a blockchain infrastructure where companies and businesses can host their own Security Token Offerings, or STOs.

  • Participants
  • Marketplaces
  • Token

To get a better insight at how the platform works, we must first go through its participant structure. The first participants in Polymath are developers, which are responsible for reviewing initial offering contracts for security tokens. KYC providers ensure that each Ethereum address is matched to a real individual and checks if they’re eligible to participate, performing due diligence on each participant. The Legal Delegates can place bids and proposals with enforceable on-chain restrictions. Issuers will be entities that create and sell tokens to the Investors, represented either by individual consumers or institutions.

Aside from hosting STO crowdsales, the platform supports several marketplaces which are all denominated in POLY tokens. The Developers can offer their services in order to create or review smart contracts in their own Developer Marketplace, where they bid for jobs posted by issuers. The Legal Delegate Marketplace helps issuers complete the legal-delegate process and sign off on an insurance. For each new security token, delegates can bid on the cost for providing their services and guiding the issuer through the process. The platform does not guarantee for any of the delegates, leaving up to the issuer to do his own due diligence about the claims and credentials of the delegate of his choice.

And Finally, KYC providers can offer validation and accreditation of investors on the platform, where they post the cost of their services, leaving it up to the end user to pick the provider most suited for them.

POLY is an ERC20 token based on the Ethereum standard, being the economic unit of the Polymath platform. It will be the only token used to pay for services on the Polymath marketplace.

The biggest problem of Polymath is that it is centralized. It does not employ the use of a DAO which means that government and international regulatory agencies can step in and order Polymath to cease and desist. The fact that Polymath even thinks that it could freely create security tokens and not go through institutions like SEC, just by using “legal delegates” is ridiculous.

Conclusion

Overall, Polymath has strong fundamentals. Security tokens seem to be picking up heat, and they have been one of the hottest aspects of cryptocurrencies in recent years. The platform is already working and they seem to have a solid team backing it. Some legal barriers still remain, but they will eventually be overcome, as cryptocurrencies and security tokens go mainstream.

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