Last year has brought a lot of changes to the world of cryptocurrencies. The prices started crashing as soon as the year had kicked off, investors lost trust and optimism in digital coins, and the SEC cracked down on ICOs, making them basically extinct. Or so everyone thought.
As the year progressed, additional token sale models emerged, but ICOs never fully went away. They are still alive and well to this day, and with the prices on their way to recovery, many more are starting to emerge once again. One such ICO is Peer Mountain ICO, which held its token sale in December 2018.
Peer Mountain is a mobile-first distributed system of trust, which uses cryptographic protocols in order to allow institutions, as well as individuals, to create their personal trusted record. In other words, they allow the opportunity to encompass your digital identity, proof of activities, trust relationships, and more. The data is fully owned and controlled by system members, and they choose who should or shouldn't have access to it.
Meanwhile, all data remains hidden from third parties. This method has the potential to bring numerous benefits, such as real-time compliance and regulatory certainty for merchants. Meanwhile, trusted third parties actually get paid for facilitating trust.
The introduction of such a system came due to a massive string of high-profile data breaches witnessed in recent years. Each new data breach exposed personal information and highly-sensitive data of millions of people in the US, Europe, and pretty much any other region around the world. Peer Mountain believes that safeguarding identities is of utmost importance, which is why they started working on this project, which is to be fueled by their new PMTN coin.
As mentioned, Peer Mountain developed PMTN token, which is the first enterprise commodity token. It was designed to power the company's ecosystem, and reward peers that prove to be the most reliable and trustworthy.
The token was designed to act as a utility, with a preICO sale starting on March 6th, 2018, and ending on December 2nd, 2018. That is when the actual ICO started, and it lasted from December 2nd to December 31st.
The token was being sold at a price of $0.0393, featuring Whitelist and KYC procedures. Further, with the ICO being based in the British Virgin Islands, it was decided that it will not be offered to US-based investors. The pre-ICO supply included 10 million PMTN, while the ICO itself offered 120.7 million units. The coin used for purchasing PMTN was Ethereum, and the ICO managed to raise around $815,000.
The ICO was more successful than expected, provided the state of the crypto market at the time. The project itself seems rather interesting and forward-looking, so it is hardly surprising that a lot of people got interested, and have been following its development ever since.
Of course, ICOs still remain quite a risky business, so it is always advisable that would-be investors carefully study each project that they might want to invest in. Read its whitepaper, and make sure that the project is legitimate, and not a scam. With the crypto prices surging once again, it is likely that the scammers might return too, which is why caution is always recommended.
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