1 Level
5 Review
1 Karma
Review on Polymath by Brian Penny
Cryptocurrency is getting a lot of flack these days for questionable legality…
Cryptocurrency is getting a lot of flack these days for questionable legality and possible fraud. Investing is risky, and regulators are cracking down. Polymath Network was the first SEC-approved ICO, and the team built a smart-contract network that makes launching an STO as easy as ICOs were. It takes a lot of paperwork and filing, but the network has built-in templates and expert help to make it easier. Dapp development is strong, with tZero, Minthealth, Corl, BlockEstate, and more in development.
This turn-key securities platform makes it easy to stay on the right side of the law, something that will be very important in years to come.
Pros
- Securities are the future of cryptocurrency. ICOs took massive hits in the media and governments around the world in 2017 and 2018, and Polymath is an STO (Securities Token Offering) platform that makes launching and funding a blockchain project much easier. POLY has high trading activity, at around $4 million a day, and big exchanges like Binance, Huobi, and Bittrex accept it. Polymath's KYC/AML requirements and accreditation is great for staying on the good side of the Securities and Exchange Commission and other regulators.
Cons
- Like everyone else doing things by the book, dealing with securities is exactly as hard as it is on legacy Wall Street brokerages. Selling POLY is easier than selling securities tokens on the Polymath Network, because POLY is ironically not a security, and Polymath did hold an ICO.
