The Multi-Trillion Dollar Securities Stampede
- Author: Peter Halligan
- Date: 27 Jan 2018
Blockchain has seen a steady evolution over the past nine years from currency coins to privacy coins, novelty coins to app coins. Now the next wave of blockchain could be upon us - security coins. Arguably the most difficult to implement, but also the most valuable and game changing of all the iterations of blockchain technology.
Polymath network is seeking to become the first platform to set a security token standard, the ST-20. The Polymath ST-20 standard claims to embed regulatory requirements into tokens themselves, which restricts trading to only verified and authorized participants.
Polymath hopes to provide issuers the ability to tokenise and issue trillions of dollars worth of shares, stocks, funds, debt, property, bonds and any other security.
The argument goes that securities operate better on the blockchain as transactions costs trend towards zero as opposed to typical retail trades which can cost $20 a go. Settlement times also go to zero as opposed to a typical 3 day settlement timeframe.
Ploymath is also offering the prospect of tokenizing illiquid assets, thus for the first time in history offering a whole host of assets on a liquid basis.
Recently Polymath has taken on an advisory role in tZERO’s US$250 million ICO. tZERO has been building its regulated, blockchain-powered stock exchange for tokenized securities since 2014. It is already integrated with every U.S. equities exchange.
“We are doing something that has never been done before — creating the first ever regulated security token through the merging of blockchain and capital formation,” President of tZERO Joe Cammarata said in a press release.
This collaboration could be interesting and provide a one stop shop for issuers seeking to create and then list their security tokens.
Polymath this week announced its first VIP Securities Token Conference, Polycon 2018, which takes place in Nassau, Bahamas, from Feb 28 to March 3, 2018. Confirmed speakers include: BitFury board member Bill Tai; Ethereum co-founder Anthony Di Iorio; CoinCircle CEO Erick Miller; Chairman of Hive and CEO of US Global Investors Frank Holmes and CEO of Overstock.com and tZERO, Patrick Byrne.
“We spent 2017 working on our platform, and for the first time in history, security tokens will represent shares in traditional financial assets, Polycon 2018 is going to open new doors to the cryptocurrency and finance industries in the new year, helping connect billions of dollars of institutional capital in a fun, unique, and informative setting” said CEO of Polymath, Trevor Koverko, in a statement.
Polymath is due to launch their platform on the 31 January 2018.
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