Ontology and bloXmove to convey decentralized identification to city transport apps
Ontology, a developer of self-sovereign identification programs on the blockchain, introduced a partnership with decentralized mobility platform bloXmove on Tuesday morning in a bid to speed up the event of its decentralized credentials. The decentralized digital identification protocol, or DID, will allow blockchain individuals to share their private info, equivalent to a driver’s license, in a non-public, secured, and encrypted method.
DIDs could sooner or later be required for advanced decentralized finance functions, equivalent to city transport apps, decentralized medical health insurance, or decentralized automotive insurance coverage. Simple good contracts wouldn’t suffice in processing, for instance, the place a decentralized insurance coverage underwriter covers a consumer’s declare for medical prices at a hospital.
Ontology would be capable to automate and safe settlements by way of bloXmove’s BLMX token. At 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 concerning the partnership:
By integrating Ontology’s DID and knowledge options, the entire [bloXmove] ecosystem might be made simpler to navigate, extra personal, and safer.
Meanwhile, Dr. Harry Behrens, CTO and co-Founder of bloXmove, stated:
“We are honored to partner with Ontology to combine bloXmove Mobility Blockchain Platform with their state-of-the-art DID Technology. Decentralized Identifiers are the crucial addition to Blockchain to create real-world business applications.”
As #DAO initiatives develop in recognition, so does the significance of honest governance. Your on-chain fame issues. Ontology Asset Score helps to make #Web3 a extra equitable area with @SnapshotLabs and @OrangeProtocol. Retweet if you happen to worth voting fairness! #ID #DID #Data https://t.co/uHXHsxjUo5
— Ontology (@OntologyCommunity) November 22, 2021