Peer Mountain is a mobile-first distributed system of trust. . Peer Mountain ICO rating – not rated.
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PRE ICO Dates : 13/02/18 – 19/02/18
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Rank in IN – 276676
About Peer Mountain ICO (token sale)
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. Peer Mountain uses such powerful cryptographic protection that data stays guarded from all other entities – even the platform itself.
At a more abstract level, the ecosystem allows individuals and companies to assert facts about themselves and other parties, and to attest (i.e. verify) those assertions. This is especially valuable for financial institutions as it can significantly lower the cost of Know Your Customer (KYC)-compliant client onboarding. This paper explores this further in the section Peer Mountain KYC & Compliance.
To organizations in sectors other than financial services and markets, Peer Mountain can also provide considerable value as a distributed platform of trusted facts (e.g. employees could assert that they are sick and HR could attest to this after verifying a doctor’s certificate).
Ecosystem participants are only identified by their public keys (analogous to how Cryptocurrencies work) and can assume multiple personas, which are basically public keys derived off their root key. Personas are useful for interacting with multiple external parties and to comply with different set of obligations and requirements. For example, a person may be a university student and the client of a bank. Generally speaking, the university requires an information subset that differs from the subset the bank requires. However, while applying for a loan or grant, a university student may not want the university to know they are a client of a specific bank. By using different personas (i.e. a role), the student controls their privacy.
Peer Mountain uses blockchain technology to give individuals and organizations full, secure ownership of their identities, and, for the first time, enable people to safely share their self-sovereign information with organizations and each other. Peer Mountain facilitates the rapid delivery of services through its blockchain framework. Identity is a core component of Peer Mountain, but this is not an identity platform. Peer Mountain is an application ecosystem designed to facilitate the commerce and exchange of digital and physical services.
Later versions of the Peer Mountain architecture will also support organizations, enabling them to model their structure through persona delegation and attach corporate identity documents to the main corporate persona. Organizations using Peer Mountain can use delegation to demonstrate ownership and control. Peer Mountain ICO can then provide a verifiable record of these facts that can be shared with any organization or individual with a need to know. Specific bodies, such as a commercial registry or a trade authorizing body, can implement attestation engines to validate these facts.
Peer Mountain is a secure ecosystem, allowing users of various applications, including those presented in Figure 1 above, to share their information with one another. By building a world of sovereign identities and linking them together securely, Peer Mountain is creating a marketplace of trust across disparate entities operating in the global economy. Peer Mountain’s vision is to enable each of us, whether individual or organization, to manage our real-world trust online – to choose who we trust and how we trust based on our own assessments, values, and conclusions about the world. A major technical objective is to enable rapid consumption of services that are complex, difficult to deliver, and subject to regulatory requirements. With Peer Mountain, a user can complete a typical service dossier, such as a credit card application, in under 10 minutes. A person can find a service they want, share required information, and have trusted third parties attest to that information. Then the service provider can simply provide the service, completing the exchange seamlessly. Each Peer Mountain user maintains control of their data. They never have to leave their personal information with businesses that require identification for any longer than is required by the regulations governing the service. This means that they may no longer need to provide hotels with copies of their passports, or give rental car companies copies of their drivers licences and credit cards. Peer Mountain ICO provides the platform that facilitates secure sharing and record keeping for all of these scenarios, effectively reducing the risk of stolen or exposed customer data.