Peer Mountain connects the dots, in this case: users, blockchain KYC systems and 3rd party blockchain systems. Allowing its users to apply for a new credit card - or any other process requiring sensitive information - in just a few taps.
The team looks good, there is already a product (in alpha), there are even already 2 huge organizations committed to use Peer Mountain. The hype is low (i.e. no gigantic Telegram group) but the project seems solid.
This is not financial advice, do your due diligence before investing. And mind the scammers, they are particularly active in the field of ICOs.
Methodology used when creating this report
- Every article published using this "5min read" format is answering a very specific list of questions.
- The list of questions does evolve slightly from one article to another, but stays 90% the same to allow easier read and comparison between projects.
- If the answer regarding a given question isn't available on the project's publications (website, white paper, blog, etc) and isn't answered by the team when asked on its Telegram Group Chat (i.e. the team ignores the question or avoids the question asked by answering on an unrelated topic), it is communicated in this report:
- some answers will be written as "not disclosed/available"
- a comment may be added in the "Overall Communication" section regarding the team's attitude
Basics
- Official Website
- White paper
- Fields
- SSID and Compliance (KYC)
- Goal
- Decentralized ID protection, trust, and compliance ecosystem
- Peer Mountain is an application ecosystem designed to facilitate the commerce and exchange of digital and physical services
- Description
- Peer Mountain ecosystem's three components:
- the mobile end-user (the consumer)
- the enterprise back end (the service provider)
- the attestation engines (the certificate provider)
- Peer Mountain is free for all end-users.
- Peer Mountain is not an identity platform.
- Major technical objective: enable rapid consumption of services that are complex, difficult to deliver, and subject to regulatory requirements.
- Example: with Peer Mountain, a user can complete a typical service dossier, such as a credit card application, in under 10 minutes
- Enable people to safely share their self-sovereign information with organizations and each other
- Enable each of us, whether individual or organization, to manage our real-world trust online
- Users never have to leave their personal information with businesses that require identification for any longer than is required by the regulations governing the service
- Access services directly from the source in total security, and review all the services you consume easily - anytime, anywhere
- A marketplace of trust across disparate entities operating in the global economy
- Peer Mountain is at the intersection of consumers who want Self-Sovereign Identity and service providers who need Continuous and Reliable Compliance and Efficient Commercial Service Delivery
- Connects self-sovereign identity owners with regulatory-compliant service providers.
- Service providers and institutions get swift, affordable compliance with data protection regulation
- Patent-pending Peerchain™ technology keeps data portable, verifiable, and secure
- Blockchain ecosystem of enterprise-deployed Peer Mountain instances that any user can access with a simple Android or iOS app on their phone
- Use your persona to conduct business and sign legally-binding, ZertES9-compliant documents
- Peer Mountain technology is cross-chain capable, entities can use PMTs to move information from one chain application to another.
- e.g. from Ethereum to Stellar-based Peer Mountain instances
- Peer Mountain ecosystem's three components:
ICO
- Hard cap
- Smartcap determines final cap: estimated at $30mm-$40mm – depending on ETH price
- Smartcap method
- optimizes and matches the amount of tokens sold with demonstrated demand
- no hidden presale
- ICO
- start date was delayed to March 6th
- bonuses
- Round 0: 30% bonus
- Round 1: 24% bonus
- Round 2: 18% bonus
- Round 3: 12% bonus
- Round 4: 5% bonus
- Round 5: no bonus
- Token allocation
- token allocation in percent
- 40% for contributors
- 40% for Peer Mountain reserve
- 10% for the team
- 8% for legal reserve
- 2% for advisory team
- Above token allocation image is from this post https://medium.com/@braid.wigs/peer-mountain-ico-review-13602d1aae8f
- Jared Grant confirmed that the token allocation numbers were still the ones shared in this article
- 6 months vesting for team & advisors
- token allocation in percent
- Token amount
- Smartcap determined: est. between 200 million and 500 million tokens
- Banned countries
- USA, China and FATF uncooperative jurisdictions
Token trading and usage
- Token trading
- date tokens get distributed
- once the main sale is over
- date tokens hit exchanges
- after the main sale
- exchanges planned to list the token
- in talks
- Note: the Peer Mountain ecosystem requires a fiat/PMT exchange in order for service providers and attestation providers to trade PMT.
- date tokens get distributed
- Token usage
- Pay for invitations to the Peer Mountain ecosystem
- Pay for establishing trust in commercial transactions
- "Service providers make micropayments in PMT every time they use Peer Mountain for identity verification”
- Peer Mountain attestation engines (i.e. entities that confirm the authenticity of identity documents) receive PMT for the use of their attestations.
- users: "if you are trustworthy and your certificates about other users are valued, you will earn PMT every time those certificates are used by others.”
- used to measure the value of trustworthiness within the Peer Mountain ecosystem
- only way to earn PMTs is to be trustworthy
- Consumers of trust transfer PMT to the entities they trust the most
Team members
- Team members
- A team of 18 members, 13 of them are tech related profile (devs blockchain, back end, etc)
- A lot of the members are based in Argentina
- Advisors
- A strong team of 14 advisors (yes, fourteen), all working in the fields related to PeerMountain (regulation, fintech, security, finance, crypto, etc).
- https://www.reddit.com/r/PeerMountain/comments/7z0ctk/peer_mountain_has_a_loooong_list_of_highly
Partners and Investors
- Partners
- "Peer Mountain is being developed and launched by KYC3 and two partners: a major Swiss corporation, and a world-renowned German corporation.” … “Once the first commercial release is completed in 2Q18, the Swiss partner intends to deploy Peer Mountain to its clients, eventually reaching all of its 3 million Swiss credit card holders.”
- Futurist Labs - enterprise and startup mobile, app, web IT and software development organization - https://futurist-labs.com
- KYC3 - Compliance and AML - https://ico.kyc3.com and https://kyc3.com
- Early stage VC firm based in Switzerland and in Silicon Valley https://polytechecosystem.vc
- VC based in Switzerland - https://www.fusion.xyz
- And the 2 undisclosed massive parnters
- A Swiss bank
- A German household name
- https://www.reddit.com/r/PeerMountain/comments/820la3/why_dont_you_display_your_partners/
- Investors
- Jed Grant (the founder), KYC3 and some of the advisors. All stakeholders are represented in the team/advisor pages on the site.
Online presence
- Media coverage - niche & mainstream
- Covered in both mainstream and niche medias, c.f. this Reddit post https://www.reddit.com/r/PeerMountain/comments/82suxc/peermountain_media_coverage/
- Social medias
- Telegram
- 3.1K followers https://twitter.com/PeerMountain
- Twitter
- 3.6K followers https://twitter.com/peermountain
- Reddit
- 53 readers https://www.reddit.com/r/PeerMountain
- Telegram
- Market size
- Market for data security is immense, over 100 billion USD
- Javelin Strategy & Research study estimates that in 2016 consumers lost over USD 16 billion to identity theft https://www.cnbc.com/2017/02/01/consumers-lost-more-than-16b-to-fraud-and-identity-theft-last-year.html
Project Status and Transparency
- Project status
- Currently in Alpha version
- May 2018: production deployment by Swiss financial services partner
- Sept 2018: deployment to 3 million end users in Switzerland
- Dec 2018: deployment by German corporation to 9 million end users
- Transparency
- Company registration/jurisdiction
- open source or not
- The mobile SDK and the Attestation Engine SDK will both be open sourced
- code audited or not
- Not yet because the project is still in Alpha
- There will be an audit once the project is in beta
- overall communication
- Telegram has some activity, otherwise there is not so much to be found online.
3rd party ICO reviews
- 3.9/5 https://icobench.com/ico/peer-mountain/ratings
- 7/10 https://icomarks.com/ico/peer-mountain
- 7.5/10 https://foxico.io/project/peermountain
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- Article written by Adrien Berthou - founder of ICO Points Analysis