What the Heck is Polymath?
First, it might help to know what the word Polymath means. It’s a person whose expertise spans a significant number of different subject areas.
For example, Nick Szabo, one of the masters of cryptocurrency, is a polymath.
In the crypto world, we have Polymath, the securities token platform.
According to Polymath there’s two primary types of tokens. App tokens and security tokens.
App tokens, like bitcoin and ethereum, give you access to a decentralized network and are launched in unregulated crowd sales. Then there’s security tokens which represent traditional financial assets and need to be regulated.
Today, the app market at around $100 million, is twice the size of the security token market. Polymath expects that in a decade the app token market will be $500 billion while the security token market will be 20 times the size at $10 trillion.
They also argue that asset backed securities as tokens work great with the blockchain. The just function better, providing liquidity, instant settlement, very low fees and 24/7 trading.
Polymath wants to be the one stop shop for securities tokens on the blockchain.
It wants to do what Ethereum did for app tokens for securities tokens. It’s platform will be fueled by the Polymath token (PLY) and it will have a standard token system called ST-20.
The Polymath stack has four layers: the protocol layer, the application layer, the legal layer, and the exchange layer. You can check the investor deck here for all the details. But basically it’s a one-stop shop for issuing financial assets on the blockchain.
You will need PLY to issue securities on the platform and to interact with the platform. You can earn PLY by being a stakeholder.
The is a project in the works. The white paper is supposed to be released this quarter. The platform is slated to launch in October. And then Polymath plans on launching a new security token every week in 2018, aka 52 Tokens in 52 weeks.
If the securities tokens market does indeed reach $10 trillion then the Polymath token could be an exciting play. Keep your eye on this project.
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This came up very high in a Google Search for "polymath network". Nice article!
Yes, i came also from google to this article.
I also came to this article from google and just got myself some poly.. will hold with my other coins.
Very Informative Thanks!..
Very Informative thanks!.
i'm looking for new "platforms" to ICO into and this one looks good as it can bridge all the gap between securities and blockchain. Imagine a quick and easy way for a company to raise shares via a token release? this could be massive
Upvoted and also resteemed!
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Nice explanation, thanks for the article.
Polymath : we have a bull logo.
Im sold, hahahaha
Wall St + Crypto = $$$
if they use it
I participated the airdrop; 250 free PLY -> about 280$ today o_O
Lol I'm not even sure if I signed up or not!
Wow! This is really a great post man. Lots of information on a rarely documented subject.
Impressed by your success lately!
Keep at it @g-dubs.
You're making steemit much better!
Thanks @frogtron, enjoy your posts too... hopefully work doesn't get in the way too much!
Brilliant post g dubs. a whole new platform sounds interesting, im going to following this now thank you!
Thanks Jordan, enjoy your posts and videos.
new platform. interesting
The tokenization of traditional financial assets could be huge.
What about polymeth? I think we have a problem with that in our town. I wouldn't touch it but sometimes I get 'poly-meh'.
Lol, yes laying off the meth is a good idea... unless you don't like money and your teeth.
You were lucky! Your post was selected for an upvote!
Thanks! I'll take all the luck I can get ;-p
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Thank you for share - will be a fun project to follow
Awesome Article :)
Great post you earned a new follower from @thefollower -_- Like money? Read my blogs for more!