As the interface between financial securities and the blockchain, Polymath helps guide issuers through the complex technological and legal process of creating a successful token.

To achieve this, security token issuers and investors need to be satisfied that KYC requirements have been met.

Polymath is making this possible.

SelfKey, a self-sovereign digital identity platform, is our newest partner helping us ensure we power the security token revolution the right way.

While Polymath does for securities issuances what Ethereum did for utility token issuances, SelfKey alleviates the pain of KYC by addressing the issue of identity through a blockchain-powered platform.

“SelfKey technology makes it simple and easy to do KYC in a decentralized manner, and puts the user in full ownership and control of their identity data, something called Self-Sovereign Identity,” SelfKey Founder Edmund Lowell said. “We are pleased to have Polymath among our list of partners who are building on SelfKey technology.”

Digital identity is considered by many as the next step in identity, and Polymath knows that in order to enable Wall Street to migrate to the blockchain, digitally signed and verified identity claims, data minimization, proof of individuality, proper governance, and a user-centric identity system must be integrated into our securities token platform.

“We think a paradigm shift is about to happen,” Polymath CEO Trevor Koverko said in a press release announcing the partnership. “Projects will need to know exactly what their intention is: do they want to be a utility token or a security token? Then, they will need to follow the applicable rules and regulations.”

The partnership means Polymath network participants gain access to SelfKey’s censorship-proof, fair, inclusive, agile, and well-designed open-source technology stack.

Alongside more accessible and secure forms of asset ownership, Polymath network participants enjoy a SelfKey architecture designed to be decentralized, globally accessible, and compliant both with regulatory rules and data privacy laws.

“If just one sovereign wealth fund or global private equity firm were to tokenize, the value held by blockchains might increase by an order of magnitude when compared to the existing utility token market,” Koverko said. “Working with a project like SelfKey is paramount to achieving our goals. Our mission is to guide companies through every step of a securities token creation. One of the steps, and a key focal area for us, is KYC.”

No decentralized platform exists today that bridges the gap between financial securities and the blockchain. Polymath’s partnership with SelfKey helps ensure this is no longer the case.