Peer Mountain ICO Review and Rating

Peer Mountain ICO Review

Verification

Updated 07/19/18

Peer Mountain is a self-sovereign identity protocol and verification system for the digital economy.

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Peer Mountain Token Sale

Whitepaper Website
TickerPMTN
Not allowedChina, USA
Token Price1 PMTN = 0.24 USD (0.00034282 ETH)
Hardcap$28.2M

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Peer Mountain ICO Review & Analysis

The invent of the digital age has an increasing amount of data being circulated online. Increased accessibility however brings increased risks of security breaches, information theft, and issues of trust between online users. Peer Mountain powers an ecosystem of secure and trusted interactions online.

What is Peer Mountain?

Interacting on the internet, and by extension the blockchain, provides a barrier of trust. The solution involves the creation of digital identities, with a level of protection built in against potential thieves or forgers.

Peer Mountain is an end-to-end solution for the entire digital identity ecosystem. It involves three parties:

  • Users: consumers who require a digital identity.
  • Certificate Providers: parties responsible for the attestation of information, accreditations, or anything else that goes into providing a user with their verifiable identity.
  • Service Providers: businesses who will benefit from trusted interactions with their customers.

The three types of users form an identity marketplace. Service providers pay for the ability to deal with customers who have verifiable credentials or identities, while attestation providers receive payments when their certificates are used for verification purposes anywhere on the ecosystem. For the end user, participation in the ecosystem is free – they only require an invitation, which will be given by service providers.

The end user’s identity will be managed on their mobile device, where they can choose who they want to share information with, what information they wish to share, and revoke access privileges at any time if they wish. The data is supported by a 4096-bit RSA key, with further security of an authentication PIN and fingerprint verification.

The project introduces Peerchain, their dedicated blockchain technology supporting the network, and encryption/distributed storage required as part of it.

The Token & ICO

PMTN tokens are the utility token of the Peer Mountain ecosystem, allowing micropayments to occur whenever the network’s attestations are used. Verifiers in the community who prove themselves to be more trustworthy will have the ability to earn more tokens, as their certificates will be more widely used.

The Peer Mountain ICO is set to take place in June 2018, with a funding goal of 39665 ETH (approximately US$23.5M as of writing this). Tokens sold in the ICO will make up 40% of the total token supply – 10% is set aside for the team, 2% for advisors, and a further 40% put into a treasury for future issuance.

The Team & Roadmap

The team, based out of Europe, features 20 members and covers both the marketing and development pretty comprehensively. Founder and CEO Jed Grant has been active in the Fintech industry for over 20 years, spending the last 10 years focused on developing technology for KYC and EDD (Enhanced Due Diligence) solutions.

Several experienced blockchain developers are working on the project, with several more focused on the mobile development end.

Development of Peer Mountain has been underway since mid 2017, with a beta version completed in late 2017. The project doesn’t list any key technical milestones, only that it expects to deploy in Switzerland mid-2018, reaching 3 million end users by September, and reaching 9 million in Germany by the end of the year.

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