Blockchain Startup Ontology Teams With Spherity To Advance Digital Identity Solutions

Blockchain, News | May 14, 2020 By:

Blockchain startup Ontology has announced its partnership with German decentralized digital identity specialist Spherity.

Ontology is a high-performance public blockchain and distributed collaboration platform. Powered by the Ontology Token (ONT), the platform allows businesses to enjoy the benefits of smart contracts and tokenization while retaining control of their sensitive data. Ontology’s features include ONT ID, a mobile digital ID application and DID used throughout the ecosystem, and DDXF, a decentralized data exchange, and collaboration framework.

Spherity is building decentralized digital identity management solutions to power the fourth industrial revolution, bringing secure identities to machines, algorithms, and other non-human entities. The firm’s decentralized identity cloud-edge wallet empowers cyber security, efficiency and data interoperability among digital value chains.

As part of the partnership, Spherity’s Cloud-Edge Identity Wallet will integrate the Ontology blockchain and will allow Ontology to harness Spherity’s blockchain-agnostic Decentralized Digital Identity solutions across public and permissioned blockchains. The companies will also create Proof-of-Concept (PoC) pilots around supply chain, mobility, and pharmaceutical verticals, along with joint research and marketing initiatives. The primary goal of the collaboration is deliver enterprise solutions for cross-border supply chain resilience and transparency.

“Partnering with Spherity represents a further expression of intent towards accelerating the development of digital identity protocols, and underlines our commitment to addressing prevalent issues associated with identity security and data integrity,” said Andy Ji, Co-founder of Ontology. “This partnership provides scope for the exploration of enterprise and product identity, as well as cross-border supply chain identity use cases including provenance, transparency, and authenticity.”

The companies said that they will focus on connecting Sino-European ecosystems while establishing trust among supply chain actors. The joint goal is to deliver secure ‘collaborative data sharing’ solutions for ‘enterprise master data’ and ‘product serialization’ with back-to-birth auditability.

“The ambition and vision of the Ontology team directly correlates with Spherity’s own roadmap, both in terms of expediting the deployment of blockchain solutions globally, while also firmly imbuing the principles of trust and security in digital identity solutions,” said Dr. Carsten Stöcker, CEO of Spherity. “Ontology will provide invaluable access into key Asian markets for our bespoke cloud technology, and we are delighted to boost Ontology’s European presence, given our rich history of operations in Germany, Switzerland, and Austria.”