Peer Mountain is a mobile-first distributed system of trust. It uses cryptographic protocols to allow people and institutions to create and own a trusted record that encompasses digital identity, trust relationships, and proof of activities. System members own and control their data; they decide who can access it, as their information remains inaccessible and unexposed to third parties at all times. Merchants get real time compliance and regulatory certainty. And trusted third parties get paid to facilitate trust.
PMTN is the first enterprise commodity token that powers the Peer Mountain ecosystem, rewarding the most trustworthy and reliable peers.
The recent string of high-profile data breaches highlights the dire shortcomings of current data protection and storage methods. In summer 2017, cybercriminals breached Equifax’s secure servers and stole the sensitive personal information of 146 million Americans1. That information - Social Security Numbers, credit card details, dates of birth - could potentially be sold the dark web, putting the identities and financial security of millions of hard-working people at risk. In response to this crisis, governments and regulators are passing legislation that requires businesses to collect and store sensitive data more securely and to test existing methods of storage and manipulation of data and documentation - see, for example, the EU’s General Data Protection Regulation.
Events like these demand that we make radical and fundamental changes to how we store and guard our identities. The problem is not only that data storage and protection procedures of enterprises like Equifax aren’t broad or rigorous enough. The issue lies in the overall method in which these companies store, guard, and transmit data.
Every time a person transacts with a bank, credit agency, government, or online retailer, that organization generates and stores a copy of that person’s information following a number of rules and regulations according to the specifics of the interaction. The result is a world of enormous digital fortresses, each holding a duplicate of the identity of anyone who has ever been a customer. These fortresses - the centralized servers that hold all our information - are rich, obvious targets for cybercriminals. No matter how many digital moats, archers, and catapults the defenders build and deploy, the attackers will keep coming. And a single breach of any one of these fortresses can result in the loss of millions of identities.
Developers can harness blockchain technology to give individuals further ownership of their personal information, and enable them to store that information in a distributed ledger, thus helping effectively mitigate the risk of identity theft. To achieve this goal, many organizations have launched blockchain-based platforms over the past year; several of them have also had successful coin offerings. Peer Mountain goes beyond providing users with further ownership and control over their cryptographically secure identities, offering an end-to-end application ecosystem designed to facilitate the commerce and exchange of digital and physical services. It facilitates trust and the secure sharing of information with multiple independent parties across broad networks while preserving traceability and compliance at every end of the transference of data.
Peer Mountain is the first decentralized peer-to-peer trust marketplace that connects self- sovereign identity owners with regulatory-compliant service providers, and opens a new paradigm for how and where individuals and organizations conduct business.
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Ex Cointelegraph and NewsBTC Media Group | Founder and CEO at Belkin Marketing Rated on Aug 11, 2018
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Project is looking very suspicious. It does look like a simple data wallet and I am not seeing and MVP or an Alpha version to prove me wrong. But if I am right, then I don't understand why such a high hardcap is in place as well as there's no positioning of the project against tens of competition solutions out there.
Hi Yaroslav, I'm sorry to inform you that you are not right. Peer Mountain is much more than a data wallet. Peer Mountain is a cross-chain salable solution for legal data exchange in regulated commerce. It's a layer 2 cross-chain protocol (Peerchain - it's in the whitepaper) designed for secure exchange of private information. This is a complex project that involves extensive development and resources of server side components to operate Peer Mountain nodes. We are working hard since 2016 with large businesses to deploy a consumer facing technology that can be used by millions.
Co-Founder at the Crypto BrainTrust Syndicate (CBTS) - cbtrust.co Rated on Jun 19, 2018 Modified on Jun 19, 2018
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Peer Mountain project intends to innovate the storage and use of personal information by leveraging the use of blockchain technology, facilitating the information exchange between consumers and service providers by ensuring security, flexibility and transparency. With a decentralized platform, Peer Mountain platform will be making legal and regulatory decisions about collecting, storing and sharing sensitive data simpler. Moreover, possible future changes in legislation and regulations could be programmed into the blockchain itself, so that they will be enforced automatically. As a result, the ledger can act as legal evidence for accessing or storing data, since it is tamper-proof.
Peer Mountain is open to any service provider. Anyone can access services directly from the source in total security and review all the services you consume easily. The master key is a 4096-bit RSA key. Peer Mountain uses the most secure encryption and authentication algorithms from certified operating system libraries which are thoroughly tested and well-maintained. The time required to crack this key would exceed the lifetime of the Milky Way galaxy.
Peer Mountain is the KYC solution for decentralized regulatory compliance intending to offer Peer Mountain to all crypto exchanges for their compliance needs, even 0x decentralized exchanges can be supported by Peer Mountain.
The Peer Mountain ecosystem’s inner mean of trustworthiness measurement is the Peer Mountain Token (PMTN) which is ERC20 standard compliant, Ethereum based token. PMTN will be used as a utility to pay every time a company makes an attestation. Additionally, users also are paid a small amount for utilizing the attestation. Naturally, one of the intended users - exchanges will need PMTN to fuel their Peer Mountain usage and therefore will want to have PMTN readily available… on their exchange. It is anticipated that PMTN token will be wide listed on exchanges due to their adoption of Peer Mountain and participation in the Peer Mountain ecosystem of regulatory trust.
There are three components that make up the Peer Mountain ecosystem: the mobile end-user (the consumers), the enterprise back end (the service provider) and the attestation engines (the certificate provider). Every peer on the system is an attestation provider.
The Peer Mountain tokenomics is as follows - the number of tokens is fixed and transaction costs are variable, decreasing as the velocity of tokens increases. As the number of transactions increases, the economy’s velocity will accelerate. The tokens, being fungible, will naturally need to be divided as product costs will remain fixed in fiat terms but will decrease in token terms. The number of users will drive the number of transactions, which, in turn, will drive the velocity of the token.
The total supply of PMTN tokens will reach 330 million. 40% of total supply will be distributed during token sale, 40% is allocated for treasury needs that will be gradually released into the ecosystem over a period of 2-5 years, 10% of tokens will be distributed to the team of the project, 8% of tokens are reserved for legal matters and 2% - for advisors. The budget allocation is also explained on the website and in WP.
The fundraiser cap is 39,665 ETH. The public PMTN token sale is planning to start in late June and going to close till the end of July or whenever the fundraiser cap is reached. The WP does a good job of transmitting the main concept across and there is a lot of background information to provide a backdrop to the reasoning behind this project. It is properly structured with a well-divided index and a classic format. It is not exaggeratedly long neither is it oversimplified. The website has a simple structure and a menu of options that allows everyone to keep investigating about this ICO. In addition to English, it is offered in other languages like Russian, Italian, Chinese, Japanese, French and Korean . The website contains a lot of facts and information, much like the WP. These illustrate the case at hand and why a solution is needed. There is a roadmap in the website and WP, explained in a clear way and it has detailed information.
A real pillar of the Peer Mountain project is the team which is led by Jed Grant. He has been working on the trust model for several years and is developing the platform in conjunction with an unnamed major Swiss financial institution.
The team is bolstered by 20 experts in different fields and areas, backed by 14 advisors in various frameworks. All participants have open LinkedIn profiles where everyone can see their past work and experience. This is really important for knowing who is behind the ICO. Nowadays any blockchain project can succeed only when it is supported by a sufficient number of people. The number of participants (as for June 15, 2018) in the Telegram chat - 4,294 members, Twitter - 3,129 followers, Facebook - 1,279 followers. There is a page on the Reddit and Steemit site.
The present-day crypto investors prefer investing in projects which already have the product prototype and are collaborating with the existing market players. The Peer Mountain MVP is near to beta. Regarding partnerships, the Peer Mountain has just integrated with the Bancor Protocol. This means PMTN holders can automatically convert any integrated token to another one directly from the Bancor Wallet or any Web3 wallet, such as MetaMask. Currently integrated tokens include ETH, the Bancor Network Token, EOS and many more.
The Peer Mountain project has joined the Enterprise Ethereum Alliance (EEA), the world’s largest open-source blockchain initiative. They have also signed a partnership with Token Market, KYC3 and others.
Compared with a number of competitors offering solutions on storage of personal information and data, Peer Mountain project will be able to not only provide the same function in a more secure and flexible manner, but also allow attestation and multiple personas to facilitate the transactions that require personal data.
One of the greatest projects out there, combining digital identity with crypto and growing in a worldwide, P2P and decentralized ecosystem. This is a BIG Project! Great Long Term Investment!
Peer Mountain’s vision is to let individuals or organizations manage their real-world trust online — Enabling one and another to choose who we trust and how we trust them, based on their own assessments, values, and conclusions.
Jed Grant has a lot of experience in the KYC and AML space. Additionally, he has put together a well-established and proven team. Having experience in many major areas needed for the Peer Mountain project to succeed.
According to the site the project has partnerships with a "Major Swiss Financial Services Firm" and a "Major German Corporation" - it remains to be seen which companies these are. They are planning to leverage these partners to get their product launched to at least 3 million users in Switzerland and 9 million users in Germany. So according to them they will have at least 12 million users at year's end 2019 - which could be potentially use if they pull it off.
Peer Mountain can and will face some other data / security competitors in the space, however PMTN is aiming to act as an intermediary for other projects (Civic, Selfkey, KYC3, and more).
I am looking forward to see whether the team can pull off the partnerships and predicted user base. I am curious as well on how PMTN can and will work in different parts of the world due local and regional differences in the regulatory space.
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Research on distributed hash tables (Kademlia) with personal realm based security (Kerberos) sparks the idea to design a system of trust management that works for the human scale.
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2006
Discovery of the NSA paper “How to Make a Mint”, which was first published in 1996.
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2010
Blockchain technology makes the possibility of a human scale trust system feasible and the year in which Jed’s “identity” was stolen for the first time.
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2014/06
Founding of KYC3 begins the journey into compliance and regulatory trust.
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2015/05
Office of Personnel Management informs Jed that his security clearance file has been stolen from their systems.
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2015/10
KYC3 inducted into Fintech Fusion.
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2015/11
First Peer Mountain tech spec filed as iDepot 68499 at the Benelux Office of Intellectual Property.
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2016/04
KYC3 selected for L’Atelier by BNP Paribas.
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2016/10
KYC3 completes Fintech Fusion.
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2016/12
KYC3 secures capital increase for March 2017.
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2017/03
Peer Mountain project is born, KYC3 leads and will be a service provider to the platform.
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2017/04
Major Swiss financial services provider agrees to co-build Peer Mountain for 3 million users and signs Letter of Intent to do so.
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2017/05
KYC3 achieves 2016 revenue level
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2017/06
Peer Mountain development begins.
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2017/07
German Corporation expresses intent to deploy Peer Mountain when ready with 9 million users.
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2017/08
Peer Mountain prototyping.
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2017/10
German Corporation contracts Peer Mountain technology for early deployment.
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2017/10
Peer Mountain exits stealth mode.
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2017/12
Peer Mountain v1 deployment.
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2018/05
Peer Mountain production deployment by Swiss financial services partner.
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2018/09
Peer Mountain deployment to 3 million end users in Switzerland.
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2018/12
Peer Mountain deployment by German corporation to 9 million end users.
