Ontology lately partnered with German digital identification and cloud pockets supplier, Spherity, to collaborate on expediting growth on digital identification options for merchandise and enterprises.
The partnership will see Spherity’s Cloud-Edge pockets combine with Ontology’s (ONT) blockchain, and permit Ontology to make use of Spheriy’s Decentralized Digital Id options.
The 2 companies will work collectively on creating proof-of-concept pilots demonstrating purposes for digital identification inside the context of supply chain, mobility, and prescription drugs — leveraging Spherity’s present buyer base.
Ontology and Spherity may even collaborate on analysis and advertising initiatives.
Id options goal the availability chain
Spherity CEO, Dr. Carsten Stöcker, advised Cointelegraph that many of the funding, analysis, and growth into blockchain-based identification options just isn’t directed at figuring out particular person residents.
“[B]lockchains and distributed ledgers are principally used to encode a myriad of different types of data that goes into monitoring items and worth because it strikes throughout the planet,” stated Stöcker. He continued:
“The applied sciences that we name identification programs do not simply establish particular person residents and correlate their authorized, monetary lives with their digital lives – additionally they establish machines, autonomous algorithms, company entities, product data, licenses, and lots of different issues that want a powerful identification and signing rights to enter into this technique of auditable, but personal transaction data.”
“There are thousands and thousands of use-cases that don’t have anything to do with KYC or human identification of any form, and even within the KYC area there are lots of methods to construct in pseudonymity, revocable anonymity, disposable identities, and different capabilities past merely asking crypto customers to point out their papers and peg their digital lives to their standing as topics in a nation-state,” he added.
Connecting Asian and European DLT platforms
Talking to Cointelegraph, Ontology co-founder, Andy Ji, acknowledged that the companies “are searching for companions to construct a proof of idea exhibiting end-to-end traceability of manufactured items from start in an Asian manufacturing unit to sale within the European market.”
“More than likely, this may take the type of a Chinese language producer already utilizing different Ontology providers to make their transactions extra auditable, and a German import sector with very excessive regulatory compliance wants or dealing with reputational dangers,” he added.
The partnership may even permit each companies to entry new markets, with Ontology having a longtime foothold in Asia whereas Spherity boasts a powerful European presence — notably inside Germany, Switzerland, and Austria.