Syscoin Partners With Peer Mountain for Regulatory Compliant On-Chain E-Commerce
Syscoin (SYS), a cryptocurrency project that features the world’s first wallet with an integrated decentralized marketplace, announced Monday that it has partnered with Peer Mountain, a blockchain-based software platform for user data security, to design a method to allow users to purchase identity verified goods, such as alcohol and tobacco, using both the Peer Mountain and Syscoin services.
Press Release via @businessinsider: @PeerMountain and @Syscoin Announce Partnership to Deliver Regulatory Compliant #ECommerce On-Chain https://t.co/1euM2Mtqjy#fintech #syscoin #blockchain #DApps #Compliance $SYS
— Syscoin (@syscoin) July 24, 2018
According to the announcement, the companies will work to facilitate interoperability between the Peerchain and the Syscoin protocols, bringing the Peer Mountain identity verification system to the Syscoin network in 2019. Blockchain Foundry will also support the partnership efforts to allow transactions of regulated good and services on the Blockchain Foundry marketplace.
In a statement accompanying the announcement, Peer Mountain CEO and Founder, Jed Grant, shared his excitement regarding the potential of the new partnership.
This partnership opens up new e-commerce opportunities for the Peer Mountain and Syscoin communities. We are excited to partner with Syscoin and to open the possibility for selling regulated items on its Blockmarket e-commerce platform with Peerchain powered compliance.
The price of SYS has surged since the announcement, jumping from $0.152 to $0.176, a 16% gain. Syscoin now has a $94 million market cap.
More: Peer Mountain and Syscoin Announce Partnership to Deliver Regulatory Compliant E-Commerce On-Chain
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.