Polymath

Polymath enables trillions of dollars of securities to migrate to the blockchain.

About Polymath

The Polymath platform aims to open up the blockchain to legally compliant securities offerings with a network of services designed to lower associated transaction costs over time. At a high level, Polymath aims to accomplish four main goals: (1) Provide a decentralized protocol for trading security tokens; (2) Enable individuals and institutions to authenticate their identity, residency, and accreditation status to participate in a wide range of security token offerings (STOs); (3) Allow legal delegates to bid on new issuances to represent issuers on offerings to be done in a regulatory compliant manner; and (4) Match issuers with developers who can translate issuers Security Offering parameters into secure code that generates ERC20 compatible tokens. Polymaths system can be modeled as tools for a set of Participants, Assets, Marketplaces, and Processes.
Competitors: Dimcoin, NYSE, NASDAQ, (National/Global Stock Exchanges)
Uniqueness/Advantages to competition: Creates a platform that decentralizes legacy security offering/exchange platforms via blockchain technology.

Token Sale Use of Blockchain

Product

4.0
Product
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

5.0
N/A
5 - Wow.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

4.0
N/A
4 - Few competitors / a leading solution.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

5.0
N/A
5 - Highly specialized, proprietary.

Product

There is demo platform available for testing. It is unspecified when blockchain development will be completed but a public github shows a lot of activity, which is increasing over time.
There is appeal to the Polymath product, given that securities offering/exchanges are a multi-trillion dollar global marketplace, and the potential / target user-base will grow along with the adoption of cryptocurrency in the general population. There is hefty legacy competition in this space (e.g., NYSE, NASDAQ), and blockchain competition will greatly stiffen over time as adoption continues, given the size of the target market. However, at this time there are no other blockchain projects aiming to provide such a fundamental, foundational service.
Competitors: Dimcoin, NYSE, NASDAQ, (National/Global Stock Exchanges)

Product Whitepaper

Use of Blockchain

3.8
Use of Blockchain
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

5.0
N/A
5 - Fundamentally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

3.0
N/A
3 - Hybrid; decentralized as far as circumstances allow.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

5.0
N/A
5 - Wow.

Use of Blockchain

The project’s contribution to blockchain development is mainly the creation of a platform that will allow for a ‘simple’ way to issue a legally compliant security token. There is a large potential disruptive advantage as, in theory, it would enable decentralization of the currently centralized, legacy securities offering methodologies such as national/global stock exchanges. There is some need for a custom token as the platform is an independent marketplace, however the same goals could be achieved via ETH. The Polymath project is really pushing the boundaries and challenging legacy services and is leading the way in developing a legally compliant security token offering marketplace.

Use of Blockchain Roadmap

Whitepaper

4.8
Whitepaper
Comprehensiveness

Does it cover the full scope of the problem and solution?

5.0
N/A
5 - All issues addressed coherently.
Readability

Is it easy enough to understand?

5.0
N/A
5 - Crystal clear. Enjoyable.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

5.0
N/A
5 - Thorough, viable, convincing, promising.

Whitepaper

There is a pitch deck and a whitepaper; both are very well put together, professional and aesthetic. The 34-pages long pitchdeck provides a good mixture of media and textual explanation, mostly in simple layman’s terms, and can be flipped thru very quickly and understood easily. The whitepaper is only 20-pages long and provides a high level review of the history of ICOs, the current laws behind ICOs, the problem with today’s ICO process, the Polymath Solution, the proposed technology behind Polymath, and the platform’s business model. The business plan and technology behind Polymath are thoroughly and concisely explained. The whitepaper is similar to a legal document with references provided in endnote form.

Whitepaper Compliance

Roadmap

3.4
Roadmap
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

1.0
N/A
1 - No concrete plans or milestones.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

5.0
N/A
5 - Paving the way for the future.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.

Roadmap

No official roadmap has been released to the public. A basic roadmap was provided months ago in Phase to Phase format, however, there is no official publicly released roadmap at this point.
Important Milestones (Non-Official):
Phase 1 Release White Paper (Complete)
Phase 2 Early Advisement (Complete)
Phase 3 Integrate with leading projects to enable KYC blockchain and ecosystem (Partially Complete)
Phase 4 Launch Polymath Platform
Phase 5 Announce first Polymath-based securities token issuers

Roadmap Company and Team

Compliance

3.6
Compliance
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.

Compliance

The POLY-token has intrinsic value through its planned usage on the Polymath platform, allowing users to actively interact with the platform to create/host legally compliant public securities offerings. The token’s main utility is as a tradable financial instrument, as it is intended to be used as a means of valuation and payment of public securities offerings, as well as a means of using the platform to create such offerings.
It is unspecified when the token smart-contract infrastructure will be fully completed and whether this will be before or after the ICO. However, there is a demo platform available for testing on the website and there is a very active github account showing an increase in development activity over time.
Compliance is addressed with direct statements of AML & KYC Due Diligence and enforced with a registration whitelisting process and manual screening of all platform registrants, as well as private ICO participants. Also, Polymath is partnered with Perkins Coie, LLP – International Law Firm.
The legal review, and disclaimer, are detailed, professional, and thorough, aiming to absolve the company of any liability regarding the ICO and any problems that may occur, and providing a general statment that the tokens are not to be deemed a security.

Compliance Token Sale

Company and Team

4.6
Company and Team
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

5.0
N/A
5 - Accomplished, recognized.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

5.0
N/A
5 - Meeting and exceeding project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

5.0
N/A
5 - Excellent, all aspects covered.

Company and Team

Polymath has an established team with 30 employees and 9 advisors, as well as legal counsel provided by a well-known and respected international law firm, Perkins Coie, LLP.
The core team has experience in business development, startups, blockchain/cryptocurrency/smart-contract development, law, engineering, aerodynamics, finance, digital assets, tech enterpreneurship, and tech development.
The advisors have backgrounds in cryptocurrency/blockchain/smart-contracts, tech development, online sales, and real-estate.
All team core members have verifiable work experience credentials via LinkedIn profiles. Many team members are not fully dedicated to the project; but are dedicated to similar projects. Many of the core members have previous experience with blockchain, cryptocurrency, or smart-contract projects.
Positives: The core team is well rounded and comes from substantial business/blockchain pedigree such as LedgerX, Deloitte, TD Securities, NASA, Shapeshift. The advisors come from substantial blockchain pedigree such as Overstock.com, ShapeShift, Factom, Bloq inc. Jaxx.
Negatives: The members are not all fully dedicated to the project.

Company and Team Product

Token Sale

3.8
Token Sale
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

1.0
N/A
1 - Not clear how funds will be used.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

5.0
N/A
5 - Majority of tokens sold, strict vesting periods, milestone dependent release.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

5.0
N/A
5 - Exceptional presence and interest, having credibility.

Token Sale

Polymath Token (POLY)

It is estimated 1-Billion POLY will be created in total.

It appears that the Polymath ICO will remain private and will not include a public offering. No official announcments have been made public, including soft-caps, hard-caps, token/fund allocation.

It is safe to guesstimate that Polymath will have little trouble raising funds via private ICO and will easily sell all of the intended tokens.

Unofficial guesstimate of how much ICO will raise: $250-million to $1-billion. Given that Polymath aims to become the main platform for future security issuance, a multi-trillion dollar marketplace, this guesstimate for ICO raise amounts seems reasonable.

Social Media Presence & Following
There is exceptional community engagment and reception. Polymath is considered to have the largest telegram following for any crypto project.

Product

There is demo platform available for testing. It is unspecified when blockchain development will be completed but a public github shows a lot of activity, which is increasing over time.
There is appeal to the Polymath product, given that securities offering/exchanges are a multi-trillion dollar global marketplace, and the potential / target user-base will grow along with the adoption of cryptocurrency in the general population. There is hefty legacy competition in this space (e.g., NYSE, NASDAQ), and blockchain competition will greatly stiffen over time as adoption continues, given the size of the target market. However, at this time there are no other blockchain projects aiming to provide such a fundamental, foundational service.
Competitors: Dimcoin, NYSE, NASDAQ, (National/Global Stock Exchanges)

Category Breakdown
Readiness

Is the product ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Appeal

How appealing is the product? How good or necessary is it? Does it have a distinct edge?

5.0
N/A
5 - Wow.
Target User Base

Is it mass market or niche?

4.0
N/A
4 - Large audience / wide market.
Competition

Are there many other similar solutions or is this one of just a few, or even one of a kind?

4.0
N/A
4 - Few competitors / a leading solution.
Innovation

How innovative or inventive is the product, either conceptually or technologically?

5.0
N/A
5 - Highly specialized, proprietary.
Product Score:
4.0

Use of Blockchain

The project’s contribution to blockchain development is mainly the creation of a platform that will allow for a ‘simple’ way to issue a legally compliant security token. There is a large potential disruptive advantage as, in theory, it would enable decentralization of the currently centralized, legacy securities offering methodologies such as national/global stock exchanges. There is some need for a custom token as the platform is an independent marketplace, however the same goals could be achieved via ETH. The Polymath project is really pushing the boundaries and challenging legacy services and is leading the way in developing a legally compliant security token offering marketplace.

Category Breakdown
Blockchain Development

Is blockchain technology essential? Does it make the solution significantly different and better?

4.0
N/A
4 - Innovative use of blockchain technology.
Disruptive Blockchain Advantage

How disruptive is the introduction of blockchain technology into the product's market space?

5.0
N/A
5 - Fundamentally disruptive.
Need for a Custom Token (vs. BTC or ETH)

Is the token essential or could it be done just as well or better with fiat or Bitcoin?

2.0
N/A
2 - Some, mainly network effect.
System Decentralization (besides token)

How decentralized is the system architecture other than the token (e.g., data collection, storage, access, and use, or decision making processes, etc.)?

3.0
N/A
3 - Hybrid; decentralized as far as circumstances allow.
Contribution to Blockchain Ecosystem

How compelling is the solution's contribution to the evolution of blockchain infrastructure and economy?

5.0
N/A
5 - Wow.
Use of Blockchain Score:
3.8

Whitepaper

There is a pitch deck and a whitepaper; both are very well put together, professional and aesthetic. The 34-pages long pitchdeck provides a good mixture of media and textual explanation, mostly in simple layman’s terms, and can be flipped thru very quickly and understood easily. The whitepaper is only 20-pages long and provides a high level review of the history of ICOs, the current laws behind ICOs, the problem with today’s ICO process, the Polymath Solution, the proposed technology behind Polymath, and the platform’s business model. The business plan and technology behind Polymath are thoroughly and concisely explained. The whitepaper is similar to a legal document with references provided in endnote form.

Category Breakdown
Comprehensiveness

Does it cover the full scope of the problem and solution?

5.0
N/A
5 - All issues addressed coherently.
Readability

Is it easy enough to understand?

5.0
N/A
5 - Crystal clear. Enjoyable.
Transparency

Does it candidly describe and disclose where the project now stands, how much exists and how much still needs to be done, etc.?

4.0
N/A
4 - Informative disclosure.
Business Plan Presentation

Does it contain a viable, comprehensive business plan?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Technology Presentation

Does it present a well thought out technological architecture? Does it address implementational challenges?

5.0
N/A
5 - Thorough, viable, convincing, promising.
Whitepaper Score:
4.8

Roadmap

No official roadmap has been released to the public. A basic roadmap was provided months ago in Phase to Phase format, however, there is no official publicly released roadmap at this point.
Important Milestones (Non-Official):
Phase 1 Release White Paper (Complete)
Phase 2 Early Advisement (Complete)
Phase 3 Integrate with leading projects to enable KYC blockchain and ecosystem (Partially Complete)
Phase 4 Launch Polymath Platform
Phase 5 Announce first Polymath-based securities token issuers

Category Breakdown
Concreteness

Is there a concrete and practical development plan (vs. just a conceptual vision)?

1.0
N/A
1 - No concrete plans or milestones.
Feasibility

Is the development plan realistic? Is it based on reasonable goals and timelines?

4.0
N/A
4 - Realistic.
Vision

Is there a larger, long-term vision?

5.0
N/A
5 - Paving the way for the future.
Dependencies (services or capabilities)

How available, operational, or trusted are the other systems or capabilities on which the project relies?

4.0
N/A
4 - Available and trusted.
Current Position

Where is the project now, relative to its vision and plans?

3.0
N/A
3 - Getting there.
Roadmap Score:
3.4

Compliance

The POLY-token has intrinsic value through its planned usage on the Polymath platform, allowing users to actively interact with the platform to create/host legally compliant public securities offerings. The token’s main utility is as a tradable financial instrument, as it is intended to be used as a means of valuation and payment of public securities offerings, as well as a means of using the platform to create such offerings.
It is unspecified when the token smart-contract infrastructure will be fully completed and whether this will be before or after the ICO. However, there is a demo platform available for testing on the website and there is a very active github account showing an increase in development activity over time.
Compliance is addressed with direct statements of AML & KYC Due Diligence and enforced with a registration whitelisting process and manual screening of all platform registrants, as well as private ICO participants. Also, Polymath is partnered with Perkins Coie, LLP – International Law Firm.
The legal review, and disclaimer, are detailed, professional, and thorough, aiming to absolve the company of any liability regarding the ICO and any problems that may occur, and providing a general statment that the tokens are not to be deemed a security.

Category Breakdown
Token Utility (value through usage)

How much use is there for the token itself (regardless of its value as an investment vehicle)?

3.0
N/A
3 - Limited or uncertain use cases.
Token as Security (tradable instrument)

How valuable is the token as an investment vehicle or financial instrument?

3.0
N/A
3 - Partly; compliance not fully assured.
Token/Smart-Contract Readiness

Is the blockchain infrastructure of the project ready for use? Is there a working prototype or MVP? How long until it is operational?

2.0
N/A
2 - Proof of concept or test platform.
Attention to Compliance Issues

How much attention is given to compliance (via token and ecosystem design, token sale participation, etc.)? Is this issue addressed directly and coherently?

5.0
N/A
5 - Professional, audited.
Legal Review/Risk Assessment

What kind of legal documentation (reviews or agreements) and risk assessment are provided?

5.0
N/A
5 - Professional and top-tier.
Compliance Score:
3.6

Company and Team

Polymath has an established team with 30 employees and 9 advisors, as well as legal counsel provided by a well-known and respected international law firm, Perkins Coie, LLP.
The core team has experience in business development, startups, blockchain/cryptocurrency/smart-contract development, law, engineering, aerodynamics, finance, digital assets, tech enterpreneurship, and tech development.
The advisors have backgrounds in cryptocurrency/blockchain/smart-contracts, tech development, online sales, and real-estate.
All team core members have verifiable work experience credentials via LinkedIn profiles. Many team members are not fully dedicated to the project; but are dedicated to similar projects. Many of the core members have previous experience with blockchain, cryptocurrency, or smart-contract projects.
Positives: The core team is well rounded and comes from substantial business/blockchain pedigree such as LedgerX, Deloitte, TD Securities, NASA, Shapeshift. The advisors come from substantial blockchain pedigree such as Overstock.com, ShapeShift, Factom, Bloq inc. Jaxx.
Negatives: The members are not all fully dedicated to the project.

Category Breakdown
Company Stage and Foundation

Is the company already established? Has it raised funds before? Is it mature?

4.0
N/A
4 - Established with some fundraising history.
Background of Lead Team Members

Do we know who they are? Do they have LinkedIn profiles? Do they have solid, relevant backgrounds?

5.0
N/A
5 - Accomplished, recognized.
Team Assembly and Commitment

Is a solid, fully committed core team in place? Do they have online (e.g. LinkedIn) profiles showing sufficient relevant experience? Is their participation transparent?

4.0
N/A
4 - Fully assembled and committed.
Team Skill Set Relevance

Does the amount of talent and skill in each area seem to fit the project requirements?

5.0
N/A
5 - Meeting and exceeding project requirements.
Team Skill Set Balance

Is the team well-rounded (biz/tech/blockchain)? Is there sufficient talent and skill in all areas of required development?

5.0
N/A
5 - Excellent, all aspects covered.
Company and Team Score:
4.6

Token Sale

Polymath Token (POLY)

It is estimated 1-Billion POLY will be created in total.

It appears that the Polymath ICO will remain private and will not include a public offering. No official announcments have been made public, including soft-caps, hard-caps, token/fund allocation.

It is safe to guesstimate that Polymath will have little trouble raising funds via private ICO and will easily sell all of the intended tokens.

Unofficial guesstimate of how much ICO will raise: $250-million to $1-billion. Given that Polymath aims to become the main platform for future security issuance, a multi-trillion dollar marketplace, this guesstimate for ICO raise amounts seems reasonable.

Social Media Presence & Following
There is exceptional community engagment and reception. Polymath is considered to have the largest telegram following for any crypto project.

Category Breakdown
Raise Amount Max

Is there a clear cap? Is the maximum raise amount modestly sufficient (as opposed to either greedy or insufficient)?

4.0
N/A
4 - Well suited to needs and plans.
Raise Amount Min

Is the minimum raise reasonable considering the development plan? Are there raise-amount dependent milestones?

4.0
N/A
4 - Reasonable, sensible.
Fund Allocation

Is fund distribution and allocation reasonable and justified?

1.0
N/A
1 - Not clear how funds will be used.
Token Allocation

Is the ratio of tokens sold to those kept reasonable? Does it prevent the company from having too much control?

5.0
N/A
5 - Majority of tokens sold, strict vesting periods, milestone dependent release.
Media Presence and Following

Is the sale being talked about in Reddit, Bitcointalk, Social Media, Medium, etc.? Is information available and accessible? Is there interest?

5.0
N/A
5 - Exceptional presence and interest, having credibility.
Token Sale Score:
3.8

Use this code to share the ratings on your website