Website : http://www.peermountain.com/
Rewind to summer of 2017. Equifax, a consumer credit reporting agency faced a massive cyber breach that jeopardized personal data of more than 143 million clients. The Stolen data involved sensitive, proprietary, or confidential information, such as credit card numbers, customer data, trade secrets or matters of national security.
If you take a look back at the cyber security that has been implemented in the system, it is not hard to understand that the issue does not lie with protection procedures of these companies but in the overall method in which these companies store, guard, and transmit data.
In order to overcome these issues, Peer Mountain has harnessed the blockchain technology by giving the users the ownership of their personal information, which will allow them to store it in a distributed ledger, thereby effectively diminishing the risk of identity theft.
Peer Mountain is the only blockchain-based decentralized ID protection, trust, and compliance ecosystem. The technology is created using blockchain and the business model is designed to reward trustworthiness. As a decentralized identity platform, the unique architecture and technology that backs Peer Mountain is guaranteed to provide consistency, stability, and trust.
PLATFORM AND TECHNOLOGY
The system is split into three parts, the mobile end-user for the customers, the enterprise backend and the attestation engines which are basically the attestation engines to calculate the credit scores.
The platform enables the delivery of real services, such as credit, loans, transactions, settlement, insurance or any other service, in any fiat or crypto currency. The individuals can own their intellectual property and monetize it. They have also built an easy-to- use platform with a simple user interface. There is no hassle around blockchain, peer-to-peer protocols, or cryptography etc to complicate the system for the users. Regarding the security aspects, Peer Mountain is built with 4096bit RSA keys and also has highly secure personal key recovery mechanism to ensure that individual can recover their keys if they lose or change their device.
Website : http://www.peermountain.com/
Also, the ecosystem is free software and a mobile application can be used by anyone who downloads it and has an invitation.
TOKEN ECOSYSTEM AND CROWDSALE
Peer Mountain’s Token is called PMT and works in a manner to measure the trustworthiness within the Peer Mountain ecosystem. Users can earn the token based on their trustworthiness factor . For example if a client wants to earn a living by being an attestation provider, they have to maintain a good credit score throughout.
Regarding the PMT token sale, it is set to begin in early 2018( the exact date can be found Peer Mountain’s website. Whitelisted participants will receive a pre-order phase to place pre-orders for the sale, which will be followed by the token sale. The cap for the Round 1 is at 2,000,000 PMT tokens within 30 days where there will be a 30% for available for the interested investors. It would be a good idea to check out their website and start investing as there is going to be high demand for this ICO.
CONCLUSION
The Founding team include Jed Grant, Dr. Markus Forster, Federico Cardoso who are the pillars behind Peer Mountain. This is the first technology that allows the System members own and control their data which proves to be the begging USP for the company. Moreover, blockchain implementation means that there I a high security and transparency that flows through the entire system which will enable Peer Mountain scale big heights with their competitive business model .
For More Details Visit
Website : http://www.peermountain.com/
Whitepaper : https://www.peermountain.com/peermountain-whitepaper.pdf
Published By: karanj
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