If you have been in Crypto you will know what an ICO or ITO is but if not I will cover it quickly basically they are Initial Coin Offerings or Initial Token Offerings. Although they differ in use they are potentially the same but either can be a utility or a security depending on how they are setup. In the realms of Crypto many companies have been avoiding using the terms around “value” such as using words like projected profits and other words and phrases that move a coin or token from being a utility (for a use but of no financial value) to a security (which has a financial value and can have profits). The reasons for this is very simple that a utility token or coin do not suffer with the same regulations and controls as a security. At the same time we are seeing a lot more legislation and government interest entering the Crypto space and looking to define businesses as securities over utilities and as such this is only going to increase over time. Not only because of tax reasons and regulations but also because Crypto is getting a lot more interest from the corporate world and other potential investors into the Crypto Space. As such PolyMath simplifies the introduction of tokens for companies wanting to form on the Blockchain as well as move securities into the blockchain from traditional business models.
In reality Polymath are taking the hard work out of setting up a business on the blockchain and backing it up with the relevant regulations and controls that are required as a security. As such its platform allows more businesses not only to join the Blockchain but also businesses that may not have entered the arena will look to Polymath for their entry point due to it working with the SEC and other governing bodies to keep everything above board and legal. Allowing companies to know they are complying with government regulations and focus on starting and running businesses instead of focusing on Blockchain technology, accounting and compliance lawyers.
Its certainly an ICO worth keeping an eye on as I know myself working with ICO’s because even setting up the token process can be a bit of a pain if not computer literate and familiar with ERC20 tokens for example. Never mind dealing with monitoring the legalities and taking things to an exchange, so having a platform that can take some of the strain off this setup will find some significant growth and usage from people entering the ICO arena.
Website – https://polymath.network
Whitepaper – https://polymath.network/resources/whitepaper