Blockchain-enabled Identity Management Platform For Institutions And Individuals Announces Token Sale To Fund Next Stages Of Development At ICO-Paris
At ICO-Paris today, Peer Mountain CEO Jed Grant announced that the company intends to hold a Token Sale to raise further funds to support the development of its peer-to-peer self-sovereign identity, compliance and commerce platform to power a circular economy of trust.
At the heart of the Peer Mountain platform is the individual’s ability to own their own digital identity and personal data. Rather than granting ownership to institutions, thus exposing them to the risk of mass data breaches such as the recent Equifax data breach, the platform enables individuals to retain data ownership, and grant access to trusted organisations for the purposes of transacting with them.
Unlike other digital identity management platforms, the Peer Mountain platform does not solely focus on consumer identity management. Its B2B offering encompasses integrated compliance and commerce delivery solutions that mean it creates a unique, circular economy based on trust earned through transactions between verified participants.
“Owning your own digital identity is an excellent starting point – but it doesn’t necessarily drive engagement with that identity on a large commercial scale,” said Peer Mountain founder and CEO Jed Grant.
“We believe that what is needed is a fully circular, trust-based economy – one in which individuals own their identities, companies and institutions offer products and services to customers via those identities, and verification is provided to create trust.”
On the Peer Mountain platform, a consumer who wants to access a company’s service – such as buying an item from a retailer – will grant certificate access to that company. An attestation provider – a mix of classic certificate providers and new identity management platforms like Civic – will validate the certificates and enable the completion of the transaction.
As consumers conduct transactions, they build trust, which companies can use as an indication of trustworthiness, offering additional levels of services and benefits akin to a loyalty or VIP system.
Having developed the platform in close collaboration with a major Swiss Financial Services company, Peer Mountain has taken a proactive approach to addressing regulatory compliance challenges.
“Centralised and non-digital systems have long hampered the efficiency of regulatory compliance and client on-boarding within the Financial Services sector,” commented Grant.
“In light of our strong ties to the sector, the Peer Mountain platform has been architected with this specific problem in mind, meaning we are able to provide a seamless solution quickly and easily.”
The company’s forthcoming Token Sale will offer a pool of 400M tokens for both pre- and main sale purchases. Proceeds of the sale will fund the continued development and commercialisation of the platform.
“Our forthcoming Token Sale offers both institutional and individual investors the opportunity to actively participate in the growth of the circular, trust-based economy,” commented Grant.
“We are excited to be at the forefront of this new, blockchain-enabled transaction model, and look forward to sharing more details of the Token Sale in the coming weeks.”