I am personally a big fan of Charles Hoskinson because he is a very approachable and friendly person spreading awareness about decentralization and blockchain. However, he does like to jump ship, and it seems like he is off on his next sail.
Charles Hoskinson announced, together with Polymath—yes, Polymath, the company Trevor Koverko runs and was once the hottest contestant for winning the security token issuance platform race—that they will launch Polymesh, a purpose-built blockchain specifically focusing on security token issuing and will be the world’s first security token blockchain. They want to marry issuers, investors and regulators together.
Polymath is currently using the ERC20 standard on its platform, but as Ethereum still has some scaling issues, Polymath finds it appropriate to launch a new separate chain that focuses solely on securities.
Some questions I want to ask are as follows:” What are the real intentions? Will the price of the Polymath token go up as it did for Binance when it announced its own chain? Is it just the next port for Hoskinson? And after “abandoning” ETC, will he now abandon ADA?
This was all strategically announced during Consensus 2019 in New York. So far, not much price movement on the Polymath token, which hopefully will be usable for Polymatchain as well. Or, are those guys going to do a separate fundraiser for it, which would actually be pathetic. 🙂
We will see what will happen in the near future. A small side note: They claim to be the first ones, but there is already a private/public blockchain focusing on security tokens. It’s called $CHX from https://weown.com/ but more on them another time.