Ontology and bloXmove to bring decentralized identity to urban transport apps
Ontology and bloXmove to bring decentralized identity to urban transport apps
The move seeks to enable the development of complex decentralized applications.
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Ontology, a developer of self-sovereign identification systems on the blockchain, announced a partnership with decentralized mobility platform bloXmove Tuesday morning in a bid to advance the development of its decentralized credentials. The decentralized digital identity protocol, or DID, will enable blockchain participants to share their personal information, such equally a driver'southward license, in a private, secured and encrypted manner.
DIDs may one day be required for complex decentralized finance applications, such as urban transport apps and decentralized health or car insurance. Simple smart contracts would not suffice in processing, for case, where a decentralized insurance underwriter covers a user'southward merits for medical costs at a hospital.
Ontology would be able to automate and secure settlements via bloXmove's BLXM token. At the same time, bloXmove can reach better efficiency, lower cost and interoperability with other networks by utilizing Ontology'southward blockchain.
Li Jun, the founder of Ontology, issued the following comment regarding the partnership:
By integrating Ontology'southward DID and information solutions, the whole ecosystem will exist made easier to navigate, more than private and more secure.
Meanwhile, Dr. Harry Behrens, principal technology officeholder and co-founder of bloXmove, said:
"Nosotros 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 y'all value voting equity! #ID #DID #Information https://t.co/uHXHsxjUo5
— Ontology (@OntologyNetwork) Nov 22, 2022
Source: https://cointelegraph.com/news/ontology-and-bloxmove-to-bring-decentralized-identity-to-urban-transport-apps
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