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The move aims to make it easier to build complicated decentralised applications.
Ontology, a blockchain-based provider of self-sovereign identification systems, announced a cooperation with bloXmove, a decentralised mobility platform, on Tuesday morning to speed up the development of its decentralised credentials. The decentralised digital identification protocol, or DID, will allow blockchain users to transmit personal information, such as a driver’s licence, in a secure, encrypted, and private manner.
Complex decentralised finance applications, such as urban transportation apps and decentralised health or car insurance, may require DIDs in the future. Simple smart contracts would not enough in cases when a decentralised insurance underwriter covers a user’s claim for hospital medical expenditures, for example.
Through bloXmove’s BLMX token, Ontology would be able to automate and secure settlements. By adopting Ontology’s blockchain, bloXmove can gain more efficiency, cheaper costs, and compatibility with other networks.
Ontology’s founder, Li Jun, made the following statement about the collaboration:
By integrating Ontology’s DID and data solutions, the whole ecosystem will be made easier to navigate, more private and more secure.
Meanwhile, Dr. Harry Behrens, chief training officer and co-founder of bloXmove, said:
“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 projects grow in popularity, so does the importance of fair governance. Your on-chain reputation matters. Ontology Asset Score is helping to make #Web3 a more equitable space with @SnapshotLabs and @OrangeProtocol. Retweet if you value voting equity! #ID #DID #Data https://t.co/uHXHsxjUo5
— Ontology (@OntologyNetwork) November 22, 2021