It has been reported that Polymath will be creating a new distributed ecosystem that is described as a proprietary blockchain for the issuance of tokenized securities as well as security tokens.
According to the report Polymath will be partnering with the founder of Cardano (ADA) to create Polymesh, a blockchain with features to match compliance requirements and safety standards for security tokens.
Co-founder of Polymath, Trevor Koverko, explains that Polymesh is a new security token layer one blockchain with the primary purpose of hosting security tokens which have unique needs and characteristic that demands a specific foundation.
Koverko explains that they want to marry issuers, investors and regulators together in a blockchain that allows an element of governance or centralized control it order to allow repairing mistakes.
Charles Haskinson expresses his sentiments stating that he is looking forward working on Polymesh; there are quadrillions of dollars of financial securities, and building a blockchain to secure them is extremely exciting according to him.
