In its endeavor to remain relevant in the cryptocurrency industry, Polymath has done something rather creative. The network known to be one of the most unique and promising blockchain projects is on its way to acquiring the domain Tokens.com. In the recent past, the network’s cryptocurrency $POLY has been gaining in price and in exchange volume. Nonetheless, it is now seeking dominance in the issuance of tokenized securities.
The truth behind Polymath network
There has been debate over whether or not the cryptocurrencies are likely to replace the traditional banking system. However, given that the latter is quite involving, word has it that Polymath’s main role will be in the provision of a flexible process in the creation and selling of security tokens.
Apparently, the platform has established a new cryptocurrency standard known as ST20. Given that the standard adheres to government compliance, it is likely that it will safeguard the token issuers from legal repercussions. While at this, it is worth noting that investors have lost millions of money to ICO scams. This is the sole reason that many governments have introduced a regulatory framework in an effort to hold together the future of cryptocurrencies.
Polymath has come a long way since its creation
The network project dates back to 2017. It started out as an ICO to becoming the largest of cryptocurrencies. According to Polymath CEO, Trevor Koverko, there is a crisis of liquidity in security tokens and many people are scared of releasing them into the world.
However, Koverko writes, “…you can’t prevent unaccredited people from getting them. What we’re doing is we’re bringing a measure of restraint and typical Wall Street-like compliance.”
Polymath’s journey has not been easy either. The outstanding performance of POLY has been depending wholly on the partnerships the network has created. The partnerships have been significant having partnered with the likes of IdentityMind. Other partnerships said to be in the pipeline will involve the verification of service for security token offerings. This will be done with one of the leading blockchain security platforms, Trustroot.
The other partnership will involve the delivery of a leading blockchain security platform whereby CrowdfundX will be involved.