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Will Polymath (POLY) Make a Comeback Soon?

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Monday was a tough day for all crypto enthusiasts and cryptocurrency investors. While bitcoin stayed below $6800, altcoins suffered greatly and therefore the entire cryptocurrency market took a nosedive which remained for the entire day. People are linking the market slump to the recent hack of a small cryptocurrency exchange ‘Coinrail’. But experts believe that the reason was far greater than that. Because of Bitcoin’s price fluctuations, crypto enthusiasts are in the search of better prospects and blockchain projects that are worth investing. Such a project is Polymath which is currently working on security tokens to solve the tug-of-war between regulations and cryptos and hence lower the chances of bloody Mondays happening.

Introduction to Polymath Network

Polymath Network and its idea of creating a security token platform where an individual can hold its token sale for investors are far too unique. The company behind Polymath network is Saint George Barbados-based Software Company which was founded back in 2017. Polymath is the only crypto project which is aiming to create a link between securities and blockchain so as to keep the investments of a crypto trader safe and promote crypto trading by enhancing its security and lowering the risks.

Anybody who has heard of crypto must know that it is yet to be regulated and unless that happens, the whole idea of crypto trading is very risky. Which is why Polymath lets an issuer using Polymath’s platform to create security tokens which are completely regulatory compliance. Their goal is rare and has too many loopholes but there’s no denying the fact that it’s the need of the hour.

Partnership with Open Finance Network

The dire situation of financial markets has caused many fintech companies to consider and even collaborate with blockchain projects. The best part of such projects is the fact that their decentralized and do not rely on third parties. But past some weeks people have come across the news of successful hacking attempt far too many times. It makes a person look for more secure options within the crypto world for trading, storing cryptocurrencies.

Open Finance Network has claimed to be one such platform that brings interoperability to the trading and clearing process with the help of ledger tech. they’ve recently announced a partnership with Polymath Network so that the security tokens of Polymath platform can be listed on OFN.

Polymath Partners with Pegasus Fintech to Launch Real Fan Token & Block Development Token

Pegasus fintech Inc. is a well-known blockchain and token accelerator which backs up new and worthy solutions in the field of technology, financial services, blockchain. Last week Polymath network announced that Pegasus fintech is advising two new projects to launch their security tokens on Polymath network security token platform.

Real Fan Token:

An e-commerce company named Fanblocks.com has come up with the idea to broaden their horizons by launching Real Fan Token as a security offering with the help of Polymath platform. The holders of real fan tokens will receive offers to acquire exclusive deals on fan and much more.

Block Development Token

Block Development Capital Inc. is a mortgage origination corporation which is based in greater Toronto area. The team behind block development has successfully created an asset-backed security token that would generate maturity bonuses while providing recovery features to all the participants of the token.

Current Market Position

Dipping since yesterday, the Polymath network markets finally seem to be moving towards recovery. According to the data on CoinMarketCap Polymath is ranked as 88th biggest cryptocurrency in the entire market with a total market capitalization of $137.6 million approximately. At the time of writing, the individual price of Polymath has gone up to $0.5 with a 3.74% rise. Around $2.7 million worth $POLY has exchanged hands within the past 24 hours.

Final thoughts

Recently, Polymath releases the newest version of Polymath core which would help token issuers to keep up regulatory help if they need it. Fortunately, Polymath network is close to creating a security token platform that allows anyone to tokenize an asset. Everything looks promising about Polymath network, but it’ll take quite some time before Polymath can catch up with the top-10 cryptocurrencies. Investors are waiting for an exemplary security token project to be released soon on Polymath network and reach new heights. Until then Polymath platform will remain focused on regulatory framework and compliance.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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Altcoins

ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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