Polymath (POLY): The Future of Wall Street
What is Polymath?
Polymath is a one of a kind securities token platform that utilizes blockchain technology to provide users certain important tools. These tools allow users to:
- Co-ordinate with and between potential investors to boost ICO participation.
- Launch financial services smoothly on the blockchain.
As a result, the blockchain can host legally compliant securities offerings. The platform used a specialized token known as the ST20 token. The creation of this unique token is vital to the platform’s security ideals.
This is because only a list of authorized investors can hold ST20 tokens in their Ethereum wallets. Accordingly, the token issuers can rest easy with the assurance that their securities don’t fall into wrong hands and attract legal sanction.
Polymath achieves this by linking token issuers, legal delegates and smart contracts developers. All this is performed on a decentralized exchange and KYC verification completes the deal. Regular transactions on the platform are executed using the native POLY token.
The surge in ICO related fraud was the single biggest necessity. In 2017 alone, ICO related fraud and other forms of failure cost investors north of $ 300 million globally. As a result, governments tightened the regulatory regimes in many jurisdictions worldwide.
Polymath is filling in by providing verified and legal security token offerings. Last year, ICOs raised $1.2 billion from utility and security tokens.
Security tokens attract government regulation since like any other security they provide equity or a claim to company dividends. Consequently, Polymath offers an avenue to have registered securities on the blockchain. This means the conventional shareholder becomes a token holder. This process is not only more simplified but also legally compliant.
How to buy Polymath
Now that we have touched generally on the working mechanism of Polymath, you might want to acquire tokens. Notably, the ideal exchanges for acquiring POLY are Kucoin and Idex where majority of trading volume is.
Polymath Wallet Options
By virtue of being an ERC-20 token, MyEtherWallet works just fine. This is because it is compatible with Ethereum tokens. There are many other online and desktop wallet options depending on your individual Polymath wallet needs.
There are also hardware wallet options like the Ledger Nano S for secure storage especially long-term.
The Polymath platform is a perfect example of market-relevant solutions within crypto-sphere. By helping to make all forms of securities programmable tokens, Polymath helps to mainstream a sector long thought of as fringe. Moreover, Investors are assured of the reliability and transparency of the securities options.