Nearly ten months after their initial announcement of Polymesh, Polymath has just released the inaugural whitepaper for their anticipated project.
As industry players continue to establish the foundation of the digital securities sector, Polymath is doing their part. After years of developing Ethereum based solutions, the team recognized a real need for a blockchain, tailor-made with digital securities in mind – Enter ‘Polymesh’
A Closer Look
While the benefits of a tailor-made blockchain are plentiful, Polymath notes 4 areas, in particular, that are being addressed through Polymesh.
Unsurprisingly, these are all issues being consistently noted as hurdles within the sector, by more than just Polymath. By creating Polymesh, and doing their best to address these key points, Polymath has the potential to become the blockchain of choice, at a time when industry participants are actively looking for such a solution.
A further point of interest is that Polymesh is noted to support more than just digital securities. Recognizing the utility behind stablecoins, Polymesh brings support for these assets as well.
Upon announcing the release of the Polymesh whitepaper, the team at Polymath took the time to comment on the structuring of this new blockchain. They state,
“With Polymesh, we’re building a blockchain specifically for security tokens. We’ve made confidentiality, identity, compliance, and governance key design principles in the architecture, working them into the ideation and the foundation of the chain, to create an enterprise-grade platform that drives the acceptance and adoption of security tokens.”
When this project first caught our attention, it was intriguing beyond technological reasons. This intrigue was due to the talent and personnel responsible for the endeavour – specifically, Charles Hoskinson.
As the co-founder of both, Ethereum and Cardano, Hoskinson knows a thing or two about the development of successful blockchains.
At the time of the original announcement, Hoskinson had the following to say on Polymesh.
““The new Polymath securities specific distributed ledger technology platform that we are architecting, which will be highly optimized to the requirements of financial investors, issuers and markets, has the potential for innovation and global participation that can lead us towards this sudden disruption, and the next evolution of open and decentralized finance.”
Founded in 2017, Polymath maintains headquarters in Toronto, Canada. Through experience gained from the issuance of well over 100 digital securities, Polymath has managed to develop various solutions for the sector. These solutions range from Polymesh, as discussed here today, to token standards, such as ERC-1400.
CEO, Kevin North, currently oversees company operations.
In Other News
As alluded to earlier in this article, the digital securities sector finds itself at a point in time in which many of the leading players are in flux. With the path moving forward becoming clearer for many, we have seen various instances in which these companies have announced their decision to move away from Ethereum, and utilize other blockchains better suited for their needs.
The most recent example of this comes from Vertalo, as they recently announced their decision to utilize Tezos.