Peer Mountain (PreICO)

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.

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.

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!