The high-performance and important public blockchain project, Ontology, and a distributed trust collaboration platform will be working with IdentityMind Global on digital identity services.
The main intention is to provide digital identity services that will be based on the Ontology trust ecosystem. Ontology has been designed to support public blockchain systems and is able to customize public blockchains for different applications. At the same time, its various protocol groups let it support collaboration among chain networks as well.
The Ontology infrastructure has an important focus on digital identity. For example, Ontology’s identity verification and authentication are supported by ONT ID.
Ontology aims to allow users build their own multi-factor identity portrait, which is theirs to authenticate, certify and use.
Garret Gaffe, CEO of IdentityMind, commented on the matter:
“We’re pleased to work with an exciting, ground-breaking project like Ontology, who are building a new, high-performance public multi-chain project and a distributed trust collaboration platform. Ontology and IdentityMind are both built upon creating a foundation of trust upon which today’s digital economy can operate.”
IdentityMind Global provides a SaaS platform that builds, maintains and analyses digital identities from all over the world. It also provides companies the possibility to perform identity proofing. The SaaS platform also has risk-based authentication, regulatory identification and it can detect and prevent identity fraud.
Furthermore, there is a built-in transaction monitoring that allows e-commerce fraud prevention, complies with Anti Money Laundering (AML) policies and Counterterrorism financing (CTF).
Entities perform transactions like onboarding, account origination, money transfer, and online payments. Online payments are tracked by Ontology’s patented eDNA technology.
Ontology is currently the 25th most important virtual currency in the market with $525 million dollars market capitalization. Each token can be bought for $3.47 dollars.