Peer Mountain (PMTN) - Decentralized trust for all





  • Welcome to Peer Mountain

    The recent string of high-profile data breaches highlights the dire shortcomings of current data protection and storage methods. In summer 2017, cybercriminals breached Equifax’s secure servers and stole the sensitive personal information of 146 million Americans1. That information - Social Security Numbers, credit card details, dates of birth - could potentially be sold the dark web, putting the identities and financial security of millions of hard-working people at risk. In response to this crisis, governments and regulators are passing legislation that requires businesses to Every time a person transacts with a bank, credit agency, government, or online retailer, that organization generates and stores a copy of that person’s information following a number of rules and regulations according to the specifics of the interaction. The result is a world of enormous digital fortresses, each holding a duplicate of the identity of anyone who has ever been a customer. These fortresses - the centralized servers that hold all our information - are rich, obvious targets for cybercriminals. No matter how many digital moats, archers, and catapults the defenders build and deploy, the attackers will keep coming. And a single breach of any one of these fortresses can result in the loss of millions of identities. Developers can harness blockchain technology to give individuals further ownership of their personal information, and enable them to store that information in a distributed ledger, thus helping effectively mitigate the risk of identity theft. To achieve this goal, many organizations have launched blockchain-based platforms over the past year; several of them have also had successful coin offerings. Peer Mountain goes beyond providing users with further ownership and control over their cryptographically secure identities, offering an end-to-end application ecosystem designed to facilitate the commerce and exchange of digital and physical services. It facilitates trust and the secure sharing of information with multiple independent parties across broad networks while preserving traceability and compliance at every end of the transference of data. Peer Mountain is the first decentralized peer-to-peer trust marketplace that connects selfsovereign identity owners with regulatory-compliant service providers, and opens a new paradigm for how and where individuals and organizations conduct business. 1 http://money.cnn.com/2017/12/1... collect and store sensitive data more securely and to test existing methods of storage and manipulation of data and documentation - see, for example, the EU’s General Data Protection Regulation. Events like these demand that we make radical and fundamental changes to how we store and guard our identities. The problem is not only that data storage and protection procedures of enterprises like Equifax aren’t broad or rigorous enough. The issue lies in the overall method in which these companies store, guard, and transmit data.




    a bank, credit agency, government, or online retailer, that organization generates and stores a copy of that person’s information following a number of rules and regulations according to the specifics of the interaction. The result is a world of enormous digital fortresses, each holding a duplicate of the identity of anyone who has ever been a customer. These fortresses - the centralized servers that hold all our information - are rich, obvious targets for cybercriminals. No matter how many digital moats, archers, and catapults the defenders build and deploy, the attackers will keep coming. And a single breach of any one of these fortresses can result in the loss of millions of identities. Developers can harness blockchain technology to give individuals further ownership of their personal information, and enable them to store that information in a distributed ledger, thus helping effectively mitigate the risk of identity theft. To achieve this goal, many organizations have launched blockchain-based platforms over the past year; several of them have also had successful coin offerings. Peer Mountain goes beyond providing users with further ownership and control over their cryptographically secure identities, offering an end-to-end application ecosystem designed to facilitate the commerce and exchange of digital and physical services. It facilitates trust and the secure sharing of information with multiple independent parties across broad networks while preserving traceability and compliance at every end of the transference of data. Peer Mountain is the first decentralized peer-to-peer trust marketplace that connects selfsovereign identity owners with regulatory-compliant service providers, and opens a new paradigm for how and where individuals and organizations conduct business.

    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.








    Token Ecosystem

    The Peer Mountain Token ( PMTN) is a utility token used to measure the value of trustworthiness within the Peer
    Mountain ecosystem. Consumers of trust transfer PMTN to the entities they trust the most. The only way to
    earn PMTNs is to be trustworthy. Individuals and enterprises use PMTNs to consume attestations and generate
    invitations. Because Peer Mountain technology is cross-chain capable, entities can use PMTNs to move information
    from one chain application to another, e.g. from Ethereum to Stellar-based Peer Mountain instances.




    There are three components that make up the Peer Mountain ecosystem: the mobile end-user (the consumer); the enterprise back end (the service provider); and the attestation engines (the certificate provider), which are very powerful. Every peer on the system is an attestation provider. Organizations of all sizes can run specialized and sophisticated attestation engines. For instance, a financial institution may want to run its own attestation engine to check clients against a user blacklist and calculate credit scores. The institution can then affirm whitelisted clients based on assertions and other attestations in the system. SERVICE PROVIDERS Pay to offer services CERTIFICATES PROVIDERS Get paid when trust is validated USERS Submit certifications to consume services The token model for Peer Mountain establishes and sustains an ecosystem for attestation providers, invitations, and service offerings. Every time a prospect consumes an invitation or service offering, the service provider pays a small fee in tokens. This includes the issuance of attestations, which is a service offering; this also prevents “attestation spamming”, which would be when a peer produces superflouous attestations with the hopes that they may be used in order to gain PMTN.. On the other side, each time an entity uses an attestation to establish trust in a relationship as part of a dossier, the provider of that attestation receives




    a micro- PMTN. This means that the most trustworthy attestations generate the highest income for their issuers. An attestation’s trustworthiness accrues naturally based on the decisions of the clients that choose to rely on it. This also means that clients who want to earn a living as attestation providers must maintain the highest standards of integrity in order to maintain their attestations’ value. As the system is peer-to-peer, any client can play any or all of the three roles. Service providers can provide attestations to open up new revenue streams. For example, utility company bills are used to prove residency. With Peer Mountain a utility provider can implement an attestation engine that verifies service delivery to a person’s address, thus proving an individual’s connection to a physical address, rather than letting others rely on an easily forged utility bill. The company then receives micropayments for each such attestation. This creates a circular economy in which net service providers need to acquire tokens to fuel their offerings and net attestation providers have surplus tokens to liquidate. In order to facilitate this, the Peer Mountain token will be traded through regulated blockchain token trading companies. It is also important to note that peers in a pure consumer role needn’t concern themselves with tokens, which is important for the general consumer population’s adoption of Peer Mountain. However, as it is peer-to-peer, anyone with the inclination, technical skill, and value to add can become a service provider or attestation provider. 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. With our first-rollout community of an estimated 12 million users, we expect sufficient transaction volume to generate significant revenue streams within the economy.




    Links:

    website:https://www.peermountain.com/

    white paper:https://www.peermountain.com/p...

    blog:https://medium.com/peermountai...

    twitter:https://twitter.com/PeerMounta...

    facebook:https://www.facebook.com/Peer-...

    linkedin:https://www.linkedin.com/compa...

    telegram:https://t.me/peermountain

    reddit:https://www.reddit.com/r/PeerM...

    contact:https://www.peermountain.com/c...



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