Polymath Chart

In the world of digital currencies, there are two groups of coins and tokens. The first category is those that are used as a means to transfer value or access decentralized networks such as Bitcoin and Ethereum. The second group is asset-based tokens, representing the number of financial assets shares.
These tokens are called Security Tokens, or the term Tokenization is used for them. The Polymath platform is a platform for creating securities tokens and wants to bridge the traditional stock market and digital currencies.
In this article, we will find out what a Polymath platform is by introducing the goals, how it works, founders, a POLY token of this platform. Stay with us.

What is POLY?

Polymath is a platform for securities tokens that provide reassurance when issuing digital securities by government regulations.

Polymath is a platform similar to Ethereum, but instead of creating functional tokens and conducting an initial public offering (ICO), it creates securities tokens, or corporate stocks, on its platform. In other words, Polymath is a bridge between the capital market and digital currencies.

Companies can offer their shares digitally on the platform to raise capital, like what is done in the stock and capital markets.
The difference between an ICO and the supply of securities tokens (STOs) is the capital that companies retain. A company’s stock depends on its performance.

However, the price of a coin or token depends on several factors, like the market conditions of the cryptocurrencies.

The Polymath team believes that they will perform much better if they are token securities; Because it will be possible to exchange them around the clock without the need for a bank. Also, due to the liquidity of the blockchains, it is possible to settle immediately and pay low fees. The use of securities tokens to raise cryptocurrencies for companies and businesses is much more valuable and intelligent in today’s world.
The problems that led the founders of this project to create a network for tokenization of securities were the lack of a clear ecosystem, the time and cost of tokenization, and the refusal of exchange offices to exchange these types of tokens.

Polymath is a complete base for securities tokens. This network is a platform for making and exchanging tokenized securities. The project intends to do the same thing Ethereum has done for coins and securities tokens as Ethereum has done.

Polymath intends to use its network token, POLY, to pay transaction fees. Also, projects and individuals who want to create their own securities tokens on this network must use the ST20 standard.

How does POLY work?

To discuss this, be sure to consider these three.

1. Investors
2. Insurers
3. Service providers

Polymaths combine these three participants to take full advantage of their adaptation ecosystem.

Investors: Investors are institutions or individuals who wish to purchase a transaction or participate in a security token offer issued on Polymath. The first thing to note here is that you cannot buy or trade security tokens in Polymath unless you have gone through verification.

Insurers: Companies wishing to release security tokens on Polymath will first bid on a new security token by submitting a transaction to the ETH network. The company goes to the Polymath Token Studio to create the token they want to begin this process.

Service providers: These are third parties that facilitate the issuance of security tokens in Polymath. They are; Legal Representatives, KYC / AML providers, Developers.

What are the goals of the Polymath platform?

The goal of the Polymath platform is to provide the right conditions for everyone to access digital markets. The platform believes that companies can use the Polymath facilities to reach a market of customers who do not have a bank account but want to operate in financial markets.

The Polymath platform aims to bring financial markets closer and link the capital market to the digital currency market. The network has been tokenized with the services and tools it provides to participants to facilitate the construction and management of securities.

Who is the founder of POLY?

Polymath was founded while looking for a solution to token a private fund. During this process, it became clear that complex technical and legal challenges made it very difficult to set up securities in the blockchain.

This process led to a much bigger perspective: instead of launching a single token microcontroller, why not make it easy for everyone to set up a security token? Polymath was born with this idea.

Polymath has team members and contributors worldwide and a growing list of more than 50 global service providers.

The Polymath platform was founded by two Canadians, Trevor Koverko and Chris Housser.

Kovarko, who considers himself a lover of economics, has worked for several Fintech companies, especially in the Austrian school. He entered the world of cryptocurrencies in 2015 and did research and study in this field. In addition to Polymath Koverko, he has executive management experience at Digital Assets International, a cryptocurrency investment company.

Polymath co-founder Trevor Kovorko with Charles Haskinson (co-founder of Ethereum and Cardano) announced at the 2019 New York Consensus that Haskinson is designing the Polymath architecture.
Hauser, another co-founder of the Polymath platform and now its interim CEO, worked in the financial and legal fields for about four years before joining the project.

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FAQs

Best way to buy POLY in Australia

You can buy this digital currency in significant and reputable exchange offices. First of all, you should be aware of the exchange rules and make sure that it meets your needs or not.
There are many exchange offices, but you should look for a platform that is secure and at the same time has the lowest transaction price in the industry.
We would like to introduce you to Bitunivex Exchange if you live in Australia. This local exchange is where you can do your business with peace of mind.

Is POLY real and safe?

One of the most critical parts of choosing digital currency is its security. ERC20 is the most basic and most adopted token standard. It is a token standard that is specifically designed for fungible tokens.
This digital currency is built to this standard, which significantly enhances this platform’s security.

Can I cash out POLY anytime?

Bitunivex is the most recommended exchange for Australian residents to buy POLY. You can send your request to the Bitunivex site; we will respond in less than 3 minutes. There is no time limit for you. You can withdraw this currency from Bitunivex wherever you are and whenever you want.