Opinions

Inside Ontology’s Plan To Encourage Efficiency And Trust Collaboration Across Society

Even though Ontology (ONT) assets have had a fruitful first quarter, but they still have more to achieve in Q2 as we head towards the end of the year. Ontology projects collaborations have brought win-win outcomes to the table for the network.

With projects focusing on providing high-performance open source blockchain coupled with distributed ledgers and smart contract, it’s no surprise why the Ontology team has been pushing to create new partnerships across the space. It aims at customizing blockchains to run different types of decentralized applications making it a leader and among the best performing digital assets so far in 2018.

For instance, Ontology, the high-performance multi-chain project, plans to build a decentralized trust collaboration platform, and Points [PTS], a blockchain based credit service network, had earlier this week announced an exciting technological partnership between their platforms.

Ontology will provide Points with a high-performance blockchain integration and smart contracts execution.

In return, Points is to build an Ontology-based platform to offer services that will include financial technology assets, credit data exchange, credit analysis models and much more.

A win-win especially if you consider Ontology’s business strategy which seeks to bridge business entities with digital systems without complex intermediate technologies. The aim of this is to connect human, financial, business and physical entities and offer distribution services for a range of application scenarios.

Ontology had also partnered with NEO and formed a task force to focus on developing smart contracts. This will entail a shared ecosystem, building open standards for these contracts, and cross-chain technology innovation.

They have set a six months period that they hope will see them achieve several different tasks including the exploration and realization of multiple use-cases of crypto-algorithms on blockchain and making both NEO & Ontology networks friendlier to end-users.

NEO confirmed a total of RMB 4 million in capital and support for the project. This support will also comprise of a total of ten or more developers. Additionally, this task force will also be reconvening on a regular basis in the future to explore and seek more cooperation on the development of blockchain protocol and application.

Furthermore, they have had prior partnerships working on new projects. For example, on May 29, it announced a collaboration with COT (Chain of Things). Traditionally, COT offers services in the Internet of Things (IoT) sector, and their partnership strategically positions the two platforms for success. Moreover, their team has extensive experience in (IoT).

Blockchain is a tough space and it defiantly require partnerships of existing platforms to be successfully adapted globally. ONT has been successfully on the path of such partnerships and with Points, it is, yet another success for Ontology project.

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Collins Valentin

Collins is a blockchain enthusiast, who spends his time between documenting the blockchain revolution in Africa, and writing the latest on the cryptocurrency space. Collins contributes guests posts to BlockPublisher. Email: editor.news@blockpublisher.com

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