Polymath is a
Polymath is a decentralized platform for security tokens. it allows people to easily create and manage security tokens. This allows many assets to be tokenized and provides many benefits.
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If they solve the security token problem, polymath $poly is going to instantly go 100x, then 1000x by EOY 2021.
Polymath Network: a
Polymath Network: a protocol for financial securities tokens! The POLY cryptocurrency & decentralized platform helps launch tokenized securities on the blockchain with their KYC & AML solution.
Polymath is a decentralized platform that aims at bridging the gap between the blockchain and financial securities. The platform is operated on the Ethereum blockckchain & will facilitate the primary issuance & secondary trading of blockchain securities tokens. It uses a blockchain protocol that offers various tools designed to coordinate & stimulate participants to collaborate & launch financial products on the platform. If such an agency—like the SEC for example—deemed that the tokens for sale actually represent securities, it means they're subject to the agency’s regulation. Many organizations holding ICOs fervently try to avoid having their tokens identified as securities, as this can come with various restrictions & limit how the tokens can be exchanged and who can invest in them. Enter Polymath: the platform features a baked-in KYC solution and before an issuer can sell a security token, they must find a legal delegate to ensure that all the regulatory requirements are met by the offering. Polymath believes that Security Token Offerings (or STOs) will be the next big trend in the crypto world. Utility tokens offer future access to a service or a product and may be compared to software licenses or gift cards. Security tokens basically represent an investment contract and the motivation for contributors to acquire them is given by the anticipation of future profits in the form of revenue share, dividends, or price appreciation. Polymath basically opens up the blockchain to securities offerings that are compliant with government laws & regulations. Polymath refers to its platform as a “one stop shop for securities token projects.” Its users are provided with a decentralized protocol that enables them to easily trade security tokens in a completely legal manner. It also features a privacy module enabling institutions and investors to authenticate their residency, identity, and accreditation status before participating in any of the security tokens offerings. Issuers may also legally nominate delegates to bid on their behalf on new offerings in a regulated manner. The issuance of new security tokens is also facilitated. Polymath matches issuers with developers who can translate the parameters of their security offering into secure code that generates ERC20-compatible tokens. Moreover, Polymath boasts a system that can be tailor-fitted to suit the needs of its users. Polymath has a layered structure that’s made up of 4 key components. The protocol layer, which comes with a decentralized shareholder registry, is tasked with taking care of the system’s computational aspects. Its framework has built-in KYC and AML accreditation, and the system runs through the use of smart contracts. The Application Layer enables interested parties to quickly create their own securities-backed tokens and even offers a ‘Create-A-Security-Token Wizard’ to facilitate the process. The 3rd key component is the Legal Layer, which offers a number of tools that interested parties can use to check if their tokens fulfill the necessary compliance & regulatory standards. The final component is the Exchange Layer, also described as a ‘closed-ended KYC compliant on/off ramp.’ Polymath aims at becoming the world’s first Security Tokens-only exchange. Polymath assists through the entire legal process and improves on the accountability, auditability and security of the securities market. All transactions in the Polymath ecosystem are governed by its native token POLY, a standard ERC20 token that's embedded with specific requirements allowing for use only among verified participants. There are 5 central participants that provide an essential aspect of the process, each of them being incentivized along the way. Investors are those who want to purchase or trade security tokens, and will pay a POLY fee to interact with the network and for KYC & AML verification. Issuers are those that want to sell security tokens; they will pay a POLY fee to create and issue the tokens. Legal delegates place bids based on the on-chain restrictions, and may also act as off-chain representatives in order to assist issuers in meeting the compliance requirements. KYC Providers are tasked with validating the participants’ real identities and with ensuring that investors are properly accredited. Lastly, developers are the software engineers rewarded with POLY for continuously evolving the network. They create and review initial offering contracts.
Disclaimer: This is not financial advice. I absolve myself of all responsibility (directly or indirectly) for any damage, loss caused, alleged to be caused by, or in connection with the use of or reliance on any content, goods or services mentioned in this article. As usual, do your own research.
Bought in 50k tokens today (0,19$) hope youre right!
i'am really bullsh on polymath ....!
Cryptocurrency keeps evolving
great summary - as always a great job...??
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