Polymath Partners With Crowd Machine To Boost Adoption Of Security Tokens

Polymath provides infrastructure for companies to issue asset-based securities at minimal cost. Trevor Koverko, Polymath's CEO, said the partnership gives the platform a competitive edge. "Without a doubt, Crowd Machine will help our ecosystem grow and function more effectively to create an environment where innovative projects have what they need for successful token launches," he said.

Crowd Machine's technology comprises four components. The Crowd Computer executes blockchain smart contracts and decentralized applications across a peer-to-peer network of Crowd Virtual Machines. Network participants run these machines on their own devices and earn compensation for sharing their spare processing power. The Crowd App Studio allows non-coders to build decentralized applications. Crowd Share functions as a free code repository similar to GitHub.

The company released Crowd App Studio, Crowd Share, and the Crowd Virtual Machine to public beta in early 2018. Crowd Machine is moving toward an ICO for the Crowd Machine Compute Token (CMCT). Developers building applications on the platform and end-users of those applications must hold CMCT tokens. According to the company's FAQ: "You can think of the CMCT token payment as analogous to the fees you would pay Amazon Web Services or Google Cloud."

Kurt Pfluger, Crowd Machine's chief security officer, explained the partnership's value. "The partnership with Polymath is exciting for us because we recognize their leadership in the security tokens space and see our technology enabling more companies and projects to bring their ideas to market faster. We look forward to helping Polymath's growing network navigate the blockchain and smart contracts associated with the platform to achieve the desired speed and compliance of offerings."