Cross-chain blockchain for trust and identity
Advantages
- Strong team (ex NEO / OnChain)
- Strong vision to be the global foundational infrastructure of a trust ecosystem
- Cross-chain interoperability support
- Strong product roadmap across multiple industries (Health care, government administration, insurance, internet of things, asset management, copyright protection, public welfare, financial services)
What is it?
- Ontology Network is a Cross-chain trust and identity blockchain
- It incorporates multiple trust types in an integrated protocol system with various blockchains and databases.
- Multi-source identities and multi-source data exchange protocols have been implemented into the network, building a distributed trust system that is cross-chain, cross-industry, cross-system, cross-application and cross-device
- Ontology Network aims to develop its trust ecosystem through partnerships to provide distributed services including: distributed communities, data verification, data exchange and credit across industries
What problems does it solve?
Existing Identity & Trust Technology
- Inaccurate identity verfication
- Emergence of new sources of trust
- Identifying false information
- Weak encryption systems
- Fragmented sources of trust
Existing Security In Trust Technology
- Security issues in IOT identity management
Existing Data Management In Trust Technology
- Data management monopolisation
- Data fragmentation
Core technology
- Decentralised identity verification (Multi-factor authentication, Entity registration and authorisation, Procedure protocols, Data attestation)
- Data exchange (Peer to peer data transmission, data authorisation mechanisms, copyright protection of data, distributed data storage)
- Data directory
- Ontology marketplace
- GlobalDB
- HydraDAO
- Ortorand consensus engine
Use Cases
Identity blockchain for people
- Users can collect and manage their own identity data from various sources including public institutions, banks, businesses, family colleagues and friends
Identity blockchain for objects
- Users can register digital identities of physical objects into the distributed network. Each object has its own API and can interact with other digital identity holders
Distributed data exchange
- Ontology network provides a data exchange for users to exchange their data (e.g. with hospitals and banks)
Online communities
- Ontology network provides the framework for communities to run in a decentralised system
Distributed reputation system
- Ontology network calculates local and global trust levels according to modifiable criteria
Decentralised inclusive financial services
- Ontology network helps businesses and individuals to become active managers of their data. With multi-source data coordination, individuals can easily apply for financial services at fairer interest rates
Valuation
- Current cap: ?
- Potential cap: $1bn - $10bn by 2019
Summary
- Ontology network is a very high quality cross-chain blockchain
- Ontology has the potential to hit $1bn - $10bn circulating marketing capitalisation by 2019.
Telegram
Very exciting project, cant wait!
I bought some yesterday. It seems to be a winner especially with the kind of team it has.