Self-sovereign identities made possible with blockchain
There is a fundamental problem with how companies currently store, guard, and transmit data. 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 and specifics of the interaction. This results in a world of enormous digital fortresses, each holding a duplicate of the identity of anyone who has ever been a customer. These centralized servers that are holding all the 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.
Here at Peer Mountain, we realized that by harnessing blockchain technology, we could give individuals back control of their personal information and enable them to store it in a distributed ledger, thus helping effectively mitigate the risk of identity theft. Peer Mountain is a decentralized peer-to-peer trust marketplace that connects self-sovereign identity owners with regulatory-compliant service providers, and opens a new paradigm for how and where individuals and organizations conduct business.
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