Polymath has announced ‘Poho’ – meaning “Bull” in Sesotho, a language spoken by over 5 million South Africans. This is the codename for what is essentially version 3.0 of their ST-20 protocol.
While ST-20 has served Polymath well, until now, industry participants require greater interoperability, along with a protocol offering higher levels of customization. Poho offers all of this.
Beyond adding new capabilities to the protocol, Poho has already undergone a full audit by the Consensys Diligence team, ensuring the work is sound.
By upgrading the ST-20 standard, Polymath indicates that it is now fully compliant with ERC-1400.
While the development of Poho represents an important move forward for Polymath, they are not the first company to take such steps. The following are a few examples of rival companies that have created their own tailored token protocols.
- DS Protocol
- Regulated Token Standard (R-Token)
Poho is not the first instance of Polymath announcing a purpose built product for the digital securities sector. Recently, Polymath announced, not only the addition of new talent, but the development of a blockchain, built specifically for hosting digital securities.
This blockchain is titled ‘PolyMesh', and will no doubt offer future support for the protocol upgrade discussed here today.
If you are planning for a future where digital securities are commonplace, why rely on patch work solutions? The industry is still nascent – take the time to create purpose built products now, setting everyone up for a more productive future.
Polymath's Head of Technology, Adam Dossa, took the time to comment on the need for Poho. The following is what he had to say regarding the announcement.
“Until now, organizations have been developing their own patchwork solutions for security token infrastructure. Now, with the ERC-1400 standard, every developer and stakeholder can speak the same language, opening up significant opportunities in this vertical…With the ‘Poho’ release of our Polymath protocol, ST-20 tokens are fully ERC-1400 compliant as well as being future-proofed through on-chain upgradability and a sophisticated modular structure.”
Since their launch in 2017, Toronto based, Polymath, has established themselves as leaders within the digital securities sector. This has been achieved through constant development of services, such as the protocol upgrades discussed here today.
To date, over 120 companies have benefitted from the issuance of security tokens made possible through the suite of services offered by Polymath.
CEO, Kevin North, currently oversees company operations.
In Other News
Polymath has long been a regular feature on securities.io, as they remain one of the most active companies within the digital securities sector. The following are a few articles demonstrating recent developments pertaining to their progress.