SAN DIEGO and TORONTO – June 19, 2018 – Polymath, a highly automated and scalable platform that makes it easy to raise capital and issue security tokens, and MintHealth™, a healthcare blockchain company combating the worldwide epidemic of chronic disease through patient empowerment, improved clinical outcomes, and lower healthcare costs, have partnered to create the MintHealth Security Token (MHST).
Security tokens are digitized securities that represent ownership in an asset (similar to stocks and bonds), and can be exchanged and traded securely and instantaneously using blockchain technology. Industry analysts and leaders, such as Polymath CEO Trevor Koverko, predict that there will be more than $1 trillion of security tokens within the next five years, driven primarily by a massive influx of institutional capital.
The MHST token will be the first security token issued in healthcare representing equity ownership for token holders, and will be configured, launched and managed on the Polymath platform. MintHealth will use Polymath’s Security Token Standard Protocol, ST-20, which simplifies the process of creating and investing in MHST while embedding legal and regulatory compliance into the token themselves. For secondary market trading, MHST will be listed on OpenFinance Network (OFN), a trading platform for tokenized securities. OFN works with institutional and retail investors, on a global basis, deploying blockchain technology to facilitate more efficient trading of securities.
“Deep partnering with existing healthcare stakeholders forms the core of our strategy around driving adoption of blockchain technology in an otherwise entrenched industry. We believe collaborative partnerships are needed to demonstrate how startups can access capital in a scalable and regulatory-compliant manner while also aligning the right investors with the right company,” said Samir Damani, M.D., co-founder and CEO of MintHealth. “We are excited to work with Polymath in their trailblazing efforts to create the gold standard platform for issuing securities in a fashion that protects both the investor and the company looking to bring meaningful improvements to industries across the globe. This partnership will facilitate access to millions in capital from new investors for us.”
Polymath launched the first securities token platform that enables the creation, issuance and trading of financial instruments on the blockchain. Polymath’s mission is to help issue security tokens in a safe and regulated manner while reducing the problems caused in capital markets (e.g., exorbitant fees, long settlement delays, limited market hours). Polymath and its ST-20 protocol enables companies like MintHealth to create and issue tokenized securities with the complex technical and legal functions of a token sale, Know-Your-Customer, Anti-Money Laundering (KYC/AML), investor accreditation checks, and development built-in.
The Polymath platform will enable MintHealth to rapidly launch MHST by encompassing all the “back office”, administrative and governance functions that otherwise would need to be established internally. MHST will become a programmable equity whereby MintHealth will have greater control and customization over their securities. Additionally, MHST will be traded 24/7 without the need for intermediaries or centralized controlling functions.
“MintHealth is an innovative project led by a team of healthcare industry veterans,” said Igor Denisov, head of strategic partnerships at Polymath. “Healthcare is widely viewed as one of the largest blockchain opportunities, and as the first healthcare security token, MintHealth will legitimize not only security tokens but Healthcare token offerings. We are pleased to work with MintHealth and their offering advisor, Genesis Block, on deploying Polymath’s security token protocol for MHST through the Polymath platform.”
“At Genesis Block, we work with a number of promising companies looking to realize the benefits of tokenizing their capital structure,” said M. Raleigh Harbour, co-founder of Genesis Block. “MintHealth is bringing a unique blend of innovation – in both their core blockchain solution and their forward-leaning approach to raising funds – to the healthcare space. Polymath is the perfect platform for MintHealth to capitalize on the growing market for security tokens.”
MintHealth is currently offering a crowdfunding equity campaign via StartEngine. Interested parties can participate in their Reg CF offering here.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. Click here to view the full MintHealth disclaimer, which holds true for this release.
MintHealth™ leverages blockchain technologies to empower patients with a self-sovereign health identity – a global holistic record of their medical data, while empowering patients to own and control their health data so that clinical and behavioral information can move seamlessly between patients, providers and health systems in real-time. The MintHealth Platform as a Service (PaaS) creates the first Proof-of-Health™ protocol that clinically validates the health of patients with EHR interoperability that coordinates care and drives more effective patient outcomes while reducing overhead and burden on provider resources. To learn more about MintHealth, visit: http://minthealth.io; on Medium at https://medium.com/@Mint_Health or Telegram at https://t.me/minthealth.
Polymath is a decentralized platform that makes it easy to raise capital and issue security tokens. The Polymath ST-20 standard embeds regulatory requirements into the tokens themselves, restricting trading to authorized participants only. The platform simplifies the complex technical challenges of creating a security token and aims to bring the multi-trillion dollar financial securities market to the blockchain.
About Genesis Block
Genesis Block provides strategic business and regulatory advisory, financial services, and technology solutions to companies seeking to leverage blockchain technology in their core business and capital strategy. Our mission is to realize the disruptive potential of blockchain and foster its growth and adoption in every aspect of life. For more information, go to https://genesisblockchain.io/.