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Polymath (POLY) is a cryptocurrency that is designed to enable the issuance and management of security tokens on the blockchain. In this article, we will take a deep dive into the history of Polymath, its founders, and current events surrounding the project.

History of Polymath

Polymath was founded in 2017 by Trevor Koverko, a former professional hockey player turned tech entrepreneur. Koverko had been involved in the cryptocurrency space for several years prior to starting Polymath, having co-founded digital wallet provider, Blockchain Intelligence Group.

Koverko’s vision for Polymath was to create a platform that would allow companies to easily issue and manage security tokens on the blockchain. Security tokens are a type of cryptocurrency that represents ownership in an underlying asset, such as real estate or company shares. Unlike utility tokens, which are designed to provide access to a particular service or product, security tokens are subject to securities regulations and must comply with relevant laws.

The Polymath platform is designed to streamline the process of issuing security tokens by providing a set of tools and templates that companies can use to create and manage their own tokens. This includes everything from token creation to investor accreditation and compliance reporting.

In order to fund the development of the platform, Polymath held an initial coin offering (ICO) in early 2018. The ICO raised approximately $58 million, with the majority of funds coming from institutional investors.

Following the ICO, Polymath continued to develop its platform, releasing a beta version in August 2018. The platform officially launched in February 2019, and since then, Polymath has been focused on expanding its user base and building out its ecosystem.

Founders of Polymath

As mentioned, Polymath was founded by Trevor Koverko, a former professional hockey player turned tech entrepreneur. Koverko has been involved in the cryptocurrency space for several years, having co-founded digital wallet provider Blockchain Intelligence Group.

Koverko is joined by a team of experienced professionals, including Chris Housser, Polymath’s Chief Operating Officer, and Thomas Borrel, the company’s Chief Product Officer.

Housser brings over 10 years of experience in the financial industry to the Polymath team, having previously worked as a portfolio manager and financial advisor. Borrel, meanwhile, has over 15 years of experience in product development and management, having worked at companies such as Microsoft and ArcelorMittal before joining Polymath.

Current Events Surrounding Polymath

Since launching its platform in 2019, Polymath has been focused on expanding its user base and building out its ecosystem. This has included partnerships with a number of companies in the cryptocurrency space, including tZero, a subsidiary of online retailer Overstock.com, and OpenFinance Network, a security token trading platform.

In addition to these partnerships, Polymath has also been working to build out its own ecosystem of products and services. This includes the Polymesh blockchain, a purpose-built blockchain designed specifically for security tokens. Polymesh is designed to address some of the limitations of existing blockchains, such as the inability to comply with securities regulations.

Another key development for Polymath has been the launch of the Polymath Token Studio. The Token Studio is a suite of tools that allows companies to easily create and manage their own security tokens on the Polymath platform. This includes everything from token creation to investor accreditation and compliance reporting.

Overall, Polymath’s focus on security tokens and compliance has positioned it well to capitalize on the growing interest in this space. As more companies look to issue security tokens, Polymath’s platform and ecosystem of products and services could become increasingly valuable.