Ontology, a developer of self-sovereign identification methods on the blockchain, introduced a partnership with decentralized mobility platform bloXmove Tuesday morning in a bid to speed up the event of its decentralized credentials. The decentralized digital id protocol, or DID, will allow blockchain members to share their private info, similar to a driver’s license, in a personal, secured and encrypted method.
DIDs could someday be required for advanced decentralized finance functions, similar to city transport apps and decentralized well being or automotive insurance coverage. Easy sensible contracts wouldn’t suffice in processing, for instance, the place a decentralized insurance coverage underwriter covers a person’s declare for medical prices at a hospital.
Ontology would have the ability to automate and safe settlements by way of bloXmove’s BLXM token. On the identical time, bloXmove can obtain higher effectivity, decrease value and interoperability with different networks by using Ontology’s blockchain.
Li Jun, the founding father of Ontology, issued the next remark relating to the partnership:
By integrating Ontology’s DID and information options, the entire ecosystem shall be made simpler to navigate, extra non-public and safer.
In the meantime, Dr. Harry Behrens, chief know-how officer and co-founder of bloXmove, mentioned:
“We’re honored to companion with Ontology to mix bloXmove Mobility Blockchain Platform with their state-of-the-art DID Know-how. Decentralized Identifiers are the essential addition to Blockchain to create real-world enterprise functions.”
As #DAO initiatives develop in recognition, so does the significance of truthful governance. Your on-chain fame issues. Ontology Asset Rating helps to make #Web3 a extra equitable area with @SnapshotLabs and @OrangeProtocol. Retweet in case you worth voting fairness! #ID #DID #Information https://t.co/uHXHsxjUo5
— Ontology (@OntologyNetwork) November 22, 2021
