Peer Mountain has launched a blockchain-based self-sovereign identity solution in response to data breaches at major consumer credit rating agency
Blockchain-based software platform Peer Mountain will reveal the world's first peer to peer self-sovereign identity, compliance and commerce delivery solution, in an attempt to empower consumers with ownership of their data and control over who they trust to access it without the need for third party involvement.
This new system aims to give control of personal data back to consumers, automatically eliminating the problems of mass data breaches such as those that occurred earlier this year at Equifax, one of the world’s leading consumer credit rating agencies.
Through use of the distributed ledger technology behind blockchain, Peer Mountain will enable rapid consumption of services from businesses on the platform, even when those services are complex and require regulatory compliance.
The platform will be free for individual users, who can become more trustworthy by using the system over a longer period of time. Enterprises that want individuals to use their service will pay a fee when individuals accept a service invitation. Attestation Providers will be paid when their validation certificates are used in a trusted context.