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Charles Hoskinson's new project will be building a security token blockchain, in cooperation with Polymath.
A new collaboration has emerged from the Consensus 2019 event. Security platform, Polymath just announced their partnership with Ethereum and Cardano’s co-founder, Charles Hoskinson to build a “purpose-built security token blockchain”, called Polymesh.
The announcement was made on the Consensus 2019 stage side-by-side by Polymath co-founder, Trevor Koverko and Hoskinson. At the same time, it was also clarified on the Cardano's co-founder will take in the collaboration, which is as the new token’s co-architect.
Despite having over 120 security tokens created using the Polymath Token Studio, their adoption is said to haven’t yet caught up with the excitement in the ecosystem. Polymath believe that it is heavily related to compliance matter.
Comparing with Ethereum, which was not purpose-built with regulations compliance in mind, Polymesh will be built from the ground up with these considerations to “become the underlying infrastructure for the world’s capital markets.”
“We’re incredibly excited to work with Charles on a purpose-built blockchain for security tokens. As the co-founder of both Ethereum and Cardano, Charles brings one-of-a-kind expertise to Polymesh, and is the perfect person to act as Polymesh’s co-architect,” said Koverko about the partnership.
“After co-founding Ethereum and Cardano, two of the most widely used blockchains in the world, I am looking forward to working on PolyMesh. There are quadrillions of dollars of financial securities and building a blockchain to secure them is an incredibly exciting task,” Hoskinson commented on his new project.