Use Cases

In addition to reducing risk, Peer Mountain also creates opportunities for new revenue streams for individuals and organizations in a wide range of industries.

  • GDPR Compliance for Businesses
  • Earn Money through Attestation
  • Immediate Credit Attestation
  • Verifiable, Portable, Secure Identity
  • Trust Without Information Storage
  • Secure Online Transactions

GDPR Compliance for Businesses

The EU’s General Data Protection Requirement (GDPR) is entering in force throughout the EU, including the UK. The law requires enterprises to adopt comprehensive cybersecurity measures to protect the sensitive data they collect from EU citizens.

Any business that fails to do so is subject to penalties of up to 4% of their annual worldwide turnover, or 20 million Euros, whichever is larger. As an example, GDPR would force Uber to forfeit over USD 1 billion1 as a result of the company’s recent data breach.

Peer Mountain eliminates the financial and reputational risks of centralized data collection, storage, processing, and transmission. The decentralized trust ecosystem allows granular, pseudo-anonymous sharing of information, allowing businesses to function effectively, efficiently, and in compliance with data protection regulations throughout the world.


1Based on 2016 gross revenue. Source: Bloomberg

Earn Money through Attestation

Attestations are one of the pillars of the circular economy of trust. An attestation is any time a person or organization confirms that another party has honored (or failed to honor) an obligation.

For example, a restaurant owner looking to expand gets a loan from a community bank. The restaurant owner pays the loan back on time, and the bank ‘attests’ to this in the Peer Mountain ecosystem. This helps the restaurant owner build a reputation for creditworthiness. From this point onward, whenever someone checks the owner’s profile, everyone who has provided attestations about him receives a micropayment through Peer Mountain.

Two years later, the restaurant owner needs another loan to open a second location. He goes to another bank, which sees the community bank’s attestation that the owner repaid the original loan on time. Based on this, the second bank approves the new loan. When this happens, the community bank receives a micropayment for being an attestation provider. In turn, the new lender also becomes an attestation provider, continuing the circular economy of trust.

Immediate Credit Attestation

The Peer Mountain economy of trust helps provide immediate verification of creditworthiness. For instance, while flipping through a magazine, a consumer sees an excellent offer for a credit card and applies for it digitally.

With Peer Mountain, there is no need for the credit card provider to demand various documents and proofs of identity and financial history through the mail or over the phone.

The consumer has a full, secure profile in Peer Mountain’s ecosystem, including his personal details and the attestations provided by all the businesses he has transacted with, including other credit cards and lenders. The company approves his application within ten minutes, and he can start using it to make purchases securely through his smartphone.

Verifiable, Portable, Secure Identity

On Peer Mountain, identity belongs to the individual. Patent-pending PeerchainTM technology allows users to share their identities securely shared across systems and blockchains. This means that a person can move through the entire world, transacting with businesses, governments, and other people as she goes, safely and seamlessly.

To illustrate this, imagine a tourist going on vacation. The first thing she needs to do is purchase a plane ticket. So she contacts the airline and selects a flight. The airline already knows that she prefers a window seat and has platinum status, so it assigns her an economy-plus window seat.

Through Peer Mountain, she can confirm her age, citizenship, and visa status. The payment from her credit card goes through instantly. Essential information regarding her finances, citizenship, age, and personal preferences has been shared across multiple parties, but no one except the traveler is in permanent possession of it. Once the transaction is complete, the information disappears for everyone but her.

Trust Without Information Storage

Peer Mountain allows organizations to do business securely and efficiently, and relieves them of the liability and reputational risk involved in maintaining copies of each customer’s sensitive information.

For example, an online retailer is expecting a surge in business around the holiday season, which it hopes will put it in the black for the year. Customer demand exceeds expectations, shattering previous sales records. However, management later discovers that hackers broke into their systems and stole all the customer information stored there.

Fortunately, the retailer uses Peer Mountain, and does not keep copies of sensitive information on its servers. For each transaction, customers only share relevant information, which disappears as soon as the transaction is complete. Therefore, the thieves find nothing of value, and the company boosts its reputation as an outstanding retailer.

Secure Online Transactions

In recent years, fraudsters have taken to stealing vast sums of money by hacking the email accounts of art galleries around the world and sending fake invoices.

Through such schemes, cybercriminals have stolen millions of dollars from collectors, and forced art dealers out of business. Peer Mountain eliminates this risk. Since identity is sovereign and stored in a distributed ledger, and communications are encrypted, there is no way for a hacker to break into the stream and act as a ‘middle man’.

An end-user making a purchase can transact securely with the seller, with no risk that someone might be impersonating the dealer, or that her funds may be diverted to a fraudulent account. The art dealer can conduct business with the certainty that he will receive his payment as agreed, with no need for follow-up emails, phone calls, or couriers.