Bitcoin Global News (BGN)
March 20, 2019 -- ADVFN Crypto NewsWire -- Since last year, Polymath has been known by most as the first mover as well as possibly the most active in the security token space. As of yesterday, it appears that they may finally be on the way to being first to market again, in what is perhaps an even more important context.
As with anything in the blockchain space, the major issue is making sure that every process in a security token platform or ecosystem is compliant with relevant regulations. Overall, according to one source, this means that a significantly higher number of legally-binding contracts are involved. With this in mind, we can also conclude that in a security token exchange, everything runs measurably slower as a result.
CoinDesk’s report on Polymath’s latest work claims that this is why we have not seen crypto giants like Coinbase make meaningful moves into the security token space yet. Even so, Tuesday’s announcement indicated that Polymath has partnered with a company called seriesOne to begin work on a security token launching platform that will be completely compliant.
In other words, both companies appear to have already claimed that they know how to structure the security-token equivalent of the Ethereum network in a way that is agreeable to all applicable regulatory agencies.
This is doubly perfect because Polymath’s vision is to become this sort of network. Considering that, for now, we are left with the question of whether or not this will represent Polymath achieving its’ vision in its’ entirety or just a side-project that helps it get closer to that point.
At this juncture, what is clear is that Polymath’s ST-20 token standard will be the backbone of this future platform. Since this is based on the ERC-20 standard, in the very least, the future ecosystem will be another stepping stone toward placing Polymath at the top of the pack for good.
By: BGN Editorial Staff