Graeme Moore, the VP of marketing for Polymath, recently discussed the current status of security tokens. He emphasized that despite the heavy regulation in financial securities, the tokenization of securities can actually contribute to the enforcement of restrictions and regulations.
Polymath’s Token Features Programmed Compliance
Polymath, a platform which received $58.7 million during its January 2018 ICO, ultimately aims to make the often complicated and legally constricted procedures of creating and selling security tokens much easier.
They have developed their own standard token, the ST20, which is not only open-source but has KYC (know your customer) criteria built-in. The ST20 is different from the standard ERC-20 insofar as the ST20 can only be held by a list of authorized investors who have previously undergone KYC and AML (anti-money laundering) screening.
Moore’s recent remarks emphasized the legislative obstacles that the security token community knows too well. Yet he added that there are legitimate ways in which Polymath’s ST20 can overcome such barriers that are simply absent with traditional financial securities:
Moore also spoke about the future of Polymath, which plans to have future involvement in exchanges. Polymath is partnered with Open Finance Network, who is on the cusp of actively trading security tokens. Their platform has already accepted applications for security token listings, where the use of an ST20 brings greater chances of approval.
But despite such progress, there is no denying that successful STOs remain extremely difficult to execute. When asked about advice Moore would give to projects considering an STO, he responded by saying,
A Determined Outlook
Ultimately, it was clear that Moore remains decisively positive when looking to the future.
Is Moore’s assessment of the future of security tokens correct? Will Polymath solidify themselves as a security tokens innovator who will assist in actualizing such a vision? We’d love to hear what you think below.
Image courtesy of Polymath.
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