What is POLYMATH Part- 1

in #cryptocurrency7 years ago (edited)

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The World’s First Security Token
Identity Mind, Polymath, and KYC Security Tokens
Venture capital firms, investment funds and companies no longer need to worry about the compl4ex technical and legal process of a successful token launch, because Polymath guides issuers through this process from start to finish.
That’s why, in order to best serve participants using the Polymath platform, we have partnered with IdentityMind, an on-demand platform for next generation risk management and anti-fraud services for e-commerce.
IdentityMind clients include banks, payment processors and gateways, and payment service providers (PSP/ISO/MSP/IPSP).
IdentityMind has put its “unique digital identity trust reputation” to use in the blockchain industry. It released last year its risk and compliance solution for token sales and ICOs to allow companies to perform Anti-Money Laundering evaluations, including KYC for purchasers, contributors, investors and more.
The forward-thinking identity firm, which has offices worldwide, approaches identity as a “rich description of transactional attributes.” This helps them achieve a digital identity model that provides the accurate risk evaluation of digital identities.
IdentityMind’s preconfigured plug-in allows issuers to know their investors while preventing certain geographies from participating in the fundraising process.
Polymath’s partnership with IdentityMind will streamline anti-money laundering (AML) and the know your customer (KYC) processes associated with security tokens.
“We know that the stampede of assets to the blockchain is coming,” says Polymath CEO Trevor Koverko in a press release announcing the partnership.
He added: “Polymath is creating the technology platform that helps to form the basis of a security token. In this new world, regulatory compliance and insight into the identity of issuers and investors is a must if sophisticated financial products are to exist on the blockchain.”
The Polymath protocol verifies each crypto address so that only authorized investors who meet the criteria for each particular security offering are able to transact with that security token.
This baked-in restriction allows tokens to be traded only amongst authorized participants, and provides issuers assurance that their tokens will only be held by authorized investors. IdentityMind will play a large role in ensuring that this high standard of regulatory compliance is met.

Check out website https://www.polymath.networkpoly math part one.png

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yes its been on my radar for a little while

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