Ontology, a high-performance public multi-chain project and a distributed trust collaboration platform, and Points (PTS), a blockchain-based credit service network, announced the launch of a technology partnership.
Ontology will provide PTS with high-performance underlying blockchain technology, integration with Ontology's blockchain system, data exchange services, data attestation services, generation and execution of smart contracts, and more.
— Ontology (@OntologyNetwork) June 5, 2018
PTS will build an Ontology-based platform to provide various services such as financial technology products, credit data exchange, credit analysis models, and more.
Ontology’s business model circles around merging organisations and institutions like business entities with the use of digital systems without utilizing any transitional complicated technologies.
The purpose of this is to connect human, business, physical and financial entities and provide dispersed services for a variety of application scenarios. Additionally, it will offer the users with an enhanced experience of using the platform and support efficiency and trust in a joint effort across society.
Jun Li, Ontology’s founder said:
“Ontology is a trust system that integrates the physical world with the digital world. It supports decentralized, community-based, and dispersed trust sources and data source collaboration. It also supports customizable compliance for different business scenarios and regulatory environments. Blockchain technology has a natural connection with the financial credit industry and we expect that cooperation with PTS will bring more technical and application innovation.”
While Jiachen Zhang, the founder of PTS said:
“We are looking forward to working with Ontology to advance the application of blockchain technology in the credit industry. With Ontology’s technology, strong community, and PTS’ top talent pool and high-quality industry resources, the two sides will work on credit-based distributed financial and life score services, promoting blockchain innovation and application, data self-governance, and building the world’s first blockchain credit service application with a data volume exceeding 100 million”
Ontology's goal is to build the bridge between entities and digital systems without the need for complicated technologies. This will allow distributed services across a range of application scenarios to connect with human, financial, physical, and business entities, and at the same time, provide users with a better service experience and encourage trust cooperation and efficiency across society. Their project with PTS is the first step for Ontology in financial credit.