Ontology partners with a German startup in order to develop better supply chain identity solutions, along with the digital identity specialist Spherity as we are reading in the latest ONT news today.
Ontology partners with the German digital identity cloud provider Spherity to collaborate on accelerating development on digital identity solutions for products and enterprises. The new partnership hopes to see Spherity’s cloud-edge wallet getting integrated with Ontology’s blockchain and to also allow Ontology to use Spherity’s Decentralized Digital Identity solutions. Both of the companies will work together to create a proof-of-concept pilot that will demonstrate how applications for digital identity can operate within the supply chain by leveraging the existing customer base of Spherity.
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Ontology and Spherity will collaborate on the research and marketing initiatives as well. The CEO of Spherity Carsten Stocker said that most of the investment, research, and development to the blockchain-based identity solutions it now directed at identifying the individual citizens:
“[B]lockchains and distributed ledgers are mostly used to encode a myriad of other forms of information that goes into tracking goods and value as it moves across the planet. The technologies that we call identity systems don’t just identify individual citizens and correlate their legal, financial lives with their digital lives – they also identify machines, autonomous algorithms, corporate entities, product information, licenses, and many other things that need a strong identity and signing rights to enter into this system of auditable, yet private transaction information.”
Stocker also said that there are millions of use-cases that have nothing to do with human identity and KYC and even the KYC space there are a lot of ways to create anonymity and disposable identities and other capabilities beyond asking the users to show their IDs and peg their digital identity to their status as subjects in the nation-state.
Ontology’s founder Andy Ji stated that the companies are looking for partners to build a proof of concept that will show end-to-end traceability of manufactured goods:
“Most likely, this would take the form of a Chinese manufacturer already using other Ontology services to make their transactions more auditable, and a German import sector with very high regulatory compliance needs or facing reputational risks.’’
The partnership will help both firms win over new markets since Ontology has established a reputation in Asia while Spherity is popular in Europe.
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