About Polymath (POLY)

Overview

Polymath is a securities token platform, founded in 2017, which acts as an interface between the blockchain and financial securities. Polymath aims to help businesses create and issue security tokens which will incentivize new financial products to be incorporated into the blockchain by making it easy to use for non-technical issuers. A security token acts like traditional financial securities such as shares or equity in real estate, startups, etc. The Polymath platform will increase liquidity and allow for legal regulations to be standardized for this type of blockchain service. Polymath aims to provide accessibility to the benefits of the blockchain to securities offerings, which are legally compliant, and provide a network which offers services designed to lower transaction costs.

Technology

The Polymath Securities Token platform comprises three levels. The first is the protocol layer which makes the foundation of the decentralized exchange and involves security and compliance. Polymath has partnered with IdentityMind for risk management and anti-fraud services such as eDNA. On top of this, they have developed their own ST20 token protocol, which operates rules similar to Ethereum's ERC20 protocols. Polymath use multisig to increase security as involved parties will have to agree before transactions can be executed. The smart contracts used are written in Solidity (influenced by C++, JavaScript, and Python) and then deployed via the Truffle Ethereum development framework. Next is the legal layer implementing global regulation templates, legal delegates (who act as representatives to guide users through compliance), Know Your Customer (KYC) and anti-money laundering (AML) verifications using SelfKey technology. The final layer is the application layer which involves the marketplace for security tokens and various service providers.

Future Focus

The team is first focussing on tokenizing three types of securities, units, debts, and equity, and may look to increase this in the future. The first security token, issued by Corl Financial Technologies, is expected to be released in 2018 and will be the first Canadian token representing equity ownership. A detailed roadmap for Polymath's development has yet to be released as the company doesn't support speculation on their platform. For more information regarding Polymath visit the official website or Whitepaper.

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

POLI - internet banking

POLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

Buy Polymath (POLY)

Trading Hours:
9am – 10pm, 7 days.

13296

Need to know

We run a tight ship here at Bitprime. Before purchasing, all customers must:

Register a user account with us.

Verify your ID.

Login before purchasing.

Storing your coins with Wallets

A wallet is essentially a bank account for your cryptocurrency and the wallet address is like your account number. The sender of the cryptocurrency needs a wallet address so they have somewhere they can send it from their wallet, much like a bank transfer. This wallet is giving you access to the blockchain where you can view your balance, send and receive cryptocurrency.

For information please read our beginners guide to cryptocurrency wallets.

Pay with POLI. Its fast!

POLI - internet bankingPOLI is secure and fast. It links directly to your internet banking – login with your normal details and the rest is easy. No extra fees or surcharges. Watch this short video to see how it works.

About Bitcoin

Bitcoin (BTC) is a form of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. Transactions are stored on a distributed, immutable, online, public ledger known as a blockchain. Bitcoin was the first truly decentralised cryptocurrency which was created by a programmer under the pseudonym Satoshi Nakamoto and was released in 2009. The system is peer-to-peer, verified by network nodes and recorded in a public distributed ledger called the blockchain. Bitcoin can be exchanged for other currencies, products, and services with over 100,000 merchants and vendors accepting bitcoin as payment. Bitcoin can also be held as an investment. There are only a fixed number of Bitcoin will ever be mined (21 million), it’s not controlled by any one government or central bank, and there’s no such thing as quantitative easing or fractional reserve banking. These qualities make Bitcoin excellent as a store of value and a long-term safe-haven asset, similar to gold.

A Bitcoin success story that went viral on social media is Kristoffer Koch from Norway. Koch invested around $27 in Bitcoin in 2009 and then forgot about it for four years. He remembered about his Bitcoin wallet in 2013, which had then grown in value to $886,000.

Buy Bitcoin

Due to the price of sending and sourcing BTC the minimum order is $500.00.

Trading Hours:
9am – midnight, 7 days.

We are Off now. Hide This

We are Off now.