This is a sponsored post. There won’t be many of these. The criteria are if it doesn’t instantly make sense it won’t make it. Also, pre-ICO things will have a way stricter criteria than something like Polymath which has already raised its money and this is more of like raising awareness.
So, Polymath is a solution to help navigate the legal and regulatory hurdles some coins face or just out right avoid.
They describe themselves as “a security token protocol which embeds regulatory requirements into the tokens themselves, which are then only available to verified and authorized participants. Our security token protocol aims to be the standard for blockchain-based securities tokens.” “To aid issuers through the process, third party legal delegates, code developers and Know-Your-Customer (KYC) verifiers offer their services from within Polymath’s provider marketplace.”
So, off the bat I could understand the value that could come out of this. Being compliant with security regulation will be key due to the SEC smacking down ICO’s who think words will protect them. It has already been ruled that all tokens that raise money will be considered a security even if they state it is a utility token.
Unlike some coins, this is a real problem that could deal with a solution. It just depends on how they execute in the end.
This is also one thing that is going toward the path of tokenizing. I mentioned this before and this one is in regard to securities. This makes perfect sense and is easy to understand. I do want to
That’s the overall view so on to talking about the team.
TREVOR KOVERKO CEO
Has founded many media companies and made the world’s first VR exit in 2015. Trevor is an active angel investor, early Bitcoin adopter and blockchain project advisor
CHRIS HOUSSER COO
He is a licensed lawyer and has practiced commercial law for a number of years, representing international corporations in high-profile litigation.
He previously worked as an engineer at LedgerX, Deloitte, TD Securities and NASA
TRACY LEPARULO CMO
She has worked on blockchain projects from wallets and exchanges to certified training.
Tracy is the founder of Untraceable, an events and marketing agency, and a co-founder of the first
Bitcoin conference in Canada and the largest Ethereum hackathon in the world
SHANNON CLARKE Full Stack Developer
He was the CEO and co-founder of Carepoint Solutions, a technology startup building digital health solutions in the Caribbean.
PABLO RUIZ Solidity Developer
Pablo was a director at NXTP Labs, the leading venture capital firm in Latin America.
GRAEME MOORE VP, Marketing & Communications
The creative director at Spartan Race, an associate at Canada’s largest independent investment advisory firm, and an analyst at one of the world’s largest real estate brokerages
The team seems solid. No red flags and all of them have a good resume. For what they are doing, it is good they have a team from a wide range of expertise. It isn’t like it is a team of tech bros trying to navigate finance. The entire team should have the ability to bring a lot to the table to ensure execution works. The only thing I’d say is, if someone has a more direct relationship with a state or national SEC or CFTC it would go a long way of forging compliance and helping direct compliance avoiding crypto regulation to hit too hard.
The platform, which the proprietors say doesn’t require advanced technological knowledge, guides users through every step — from creation, to fundraising, to secondary-market trading — while complying with ever stricter regulations, according to a beta version seen by Bloomberg. $2 billion in ICOs
Data on a blockchain is often public. The same is true of Polymath, where token purchasers are pseudonymous, but transaction data is public. A rich set of data about the activity of KYC providers, law firms, and smart contract developers is there for all to see on the platform. Participants can, therefore, learn about the offerings in which they were involved.
“Our closed-loop system can aid participants to separate the high-quality bids from the low-quality ones, whether they are legal delegates, smart contract writers, issuers, or KYC providers,” notes Kovervko, who was among Canada’s most active blockchain investors in 2016. “Polymath aims to be structured in such a way that, over time, the most effective legal delegates, reliable KYC providers, and the best Solidity smart contract developers will float to the top.”
Market for above industries.
Polymath Inc. is developing a new token standard – called ‘ST20’ – with KYC embedded into tokens at protocol level. Such tokens will be launched on the Polymath Network, a platform which coordinates token investors, issuers, developers, KYC providers, and legal delegates together to launch and trade security tokens.
Adoption is the main concern. Obviously, a lot of platforms must deal with this problem, but if adoption isn’t there this can’t succeed. If adoption is there it could easily rise to extreme prominence. Seems like they know this though since they reached out to me to make a video about them.
Polymath is already getting plenty done. Especially since they are assisting Overstock and their tZero platform.
Not to mention they are partnering up with a lot of other companies to solidify their platform.
Worth monitoring for more partnerships since they seem to be on a roll.
Another notable thing is how massive their telegram has begun. It is one of the biggest telegram groups for a blockchain project. Comparing this with all these strategic partnerships show that Polymath has some high long-term sentiment.
The route that Polymath is taking makes it seem like it will be something that survives hype. The fact that it is an entire platform and not a simple application improves these chances. Because they are trying to do things right results might be slow for what people are used to in crypto, but this is something looking toward the long term.
Despite being sponsored I think Polymath has a chance of being a big driving force. If it lands major ICOs using its standard it will quickly become a dominating force. I think it will really blow up once it is at a bigger exchange. Token value will be driven by the market system. Really the only thing that is left is consistent usage by ICOs. If ICOs find benefit it will easily grow, but the fact that many try to avoid the US completely might make this fact take time.
My main beef is that it isn’t on a real exchange. I’ll probably make a follow up video a few months down the line to see what progress was made.