I want to clarify that I didn't call Polymath a scam nor do I personally think it is one. But there are a number of suspicious factors about it which lead me to believe that this isn't going to be the security token platform that blasts off.

If their platform completely relies on Tzero (which it kind of does for providing liquidity), then that's already an awful start. I'd like to say that even though it's clear to people who spend a bit of time researching the project, it's obtuse to anyone who quickly glances at Polymath - which is supported by the fact that I've seen a lot of people claiming that Polymath will provide the means to exchange the tokens itself with liquidity when it really isn't - it's just connecting to other platforms that do which are either not functional yet or don't have enough liquidity to be meaningful.

The biggest concern is the idea that a legal template can be created at all for security tokens. It's near impossible to launch a legitimate, registered security token right now even if you AREN'T trying to build a template for future ones to use. That's part of the reason why there are so many aiming for Regulation D / A rather than the registered security route. The fact they want to try and automate this with OUTSOURCED legal delegates? All I am going to say is good luck - It'll work fine until it grows large enough that the SEC, FSA or any of the dozen other agencies decide to intervene. Then all of a sudden it will likely become clear that the "security tokens" launching on the platform really haven't been securities - I wouldn't want to take that risk myself.

And for the companies lining up to go on the blockchain - It's MOSTLY because of the buzz surrounding the word "blockchain." It's a massive opportunity because so much capital is flowing in the region - but I don't know how much of it is honest demand vs. how much of it is a cash grab.

I appreciate your comments as always, know you've been following here a while. I like having comments that are well stated which disagree with me - hope you stick around.