We believe that the project need some time to become popular. We see the problem not in the idea of Polymath, which is truly innovative, but in the complexity of its implementation. In general, the idea of Canadian enthusiasts is very interesting. We think that big companies will primarily trust their people. There is no justification for why big business should use the services of the platform’s specialists.
We mean the lack of information on how to achieve your goals on Polymath’s official website.
Later, during the Polymath Core update in November 2018, the project blog writers focused on the fact that Polymath Core was not its own blockchain.
We are not intending to build our own blockchain at this time.Īs can be seen, Polymath’s plans do not include the refusal of the Ethereum blockchain. Confusion demanded a reaction from the company, which was as follows: Many people believed that this meant the final separation from Ethereum.
In August 2018, the landmark launch of Polymath Core 1.3.0 Mainnet took place. Yes, it already has quite a wide functionality, but the platform will be refined and improved for a long time. POLY can be purchased on Huobi, Bittrex, Upbit, Kucoin, Binance and several other less known exchanges. The safety and speed of such transactions will be provided by this coin. For example, lawyers, programmers and other specialists creating a legal token should be paid for their work. First of all, POLY will be used for transactions within the platform. It is not subject to government regulation, since it is not a security. At the moment, this is not a “security token”, but an exclusively utility coin. POLY cryptocurrency was created to ensure operation of the platform, more precisely, to access the customer to all its advantages.
Polymath should open the door for creating tokens, which fully comply with the securities legislation. Ethereum allowed everyone to create their projects and coins, which was a revolutionary innovation. It is claimed that this is a new stage in the evolution of cryptocurrencies. On the official website of the platform, you can see that the project is constantly compared with Ethereum. Very similar to ERC20, aren’t they? The similarity is not accidental. The creators of Polymath have developed a new standard for cryptocurrency – ST20-tokens. New tokens are securities in the form of a smart contract. All these subjects should help clients to create their own security token. Its task is to unite investors, various KYC providers (for example, exchanges), developers of smart contracts and lawyers in one information space. Polymath is a decentralized platform, the idea of which is to move the securities market to the blockchain.