Polymath, a leading security token platform that makes it easy to create and manage security tokens, has announced that they will build the world’s first security token Blockchain called Polymesh. The new Blockchain is going to be built in collaboration with Charles Hoskinson, co-founder of Ethereum and Cardano.
The announcement was made on stage at Consensus in New York by Polymath Co-Founder Trevor Koverko, alongside Charles Hoskinson. Hoskinson will take on the roll of Polymesh’s co-architect.
Until now, Polymath has built its technology solution for security tokens on Ethereum. While there have been over 120 Security Tokens created using the Polymath Token Studio, adoption of security tokens has not caught up with the excitement surrounding the ecosystem. Polymath believes this is largely due to one reason: compliance.
Ethereum was not purpose-built with regulations or compliance in mind. It was built for softwear applications. Polymesh is solely being built from the ground up with these considerations in mind, to become the underlying and infrastructure for the world’s capital markets.
Trevor Koverko, co-founder of Polymath said,
“We’re incredibly excited to work with Charles on the world’s first purpose-built Blockchain for security tokens. As the co-founder of both Ethereum and Cardano, Charles brings one-of-a-kind expertise to Polymesh, and is the perfect person to act as Polymesh’s co-architect.”
“After co-founding Ethereum and Cardano, two of the most widely used Blockchains in the world, I am looking forward to working on PolyMesh. There are quadrillions of dollars of financial securities, and building a Blockchain to secure them is an incredibly exciting task.” Mentioned Charles Hoskinson, who is also the founder of IOHK.
The Polymath platform simplifies the complex technical challenges of creating a security token and is exited to bring the multi-trillion dollar financial securities market to the Blockchain in the near future.