Ontology Partners With German Startup to Accelerate Supply Chain Identity Solutions

Ontology lately partnered with German virtual identification and cloud pockets supplier, Spherity, to collaborate on expediting construction on virtual identification answers for merchandise and enterprises.

The partnership will see Spherity’s Cloud-Edge pockets combine with Ontology’s (ONT) blockchain, and make allowance Ontology to use Spheriy’s Decentralized Virtual Identity answers.

The two companies will paintings in combination on developing proof-of-concept pilots demonstrating packages for virtual identification inside the context of provide chain, mobility, and prescribed drugs — leveraging Spherity’s current buyer base.

Ontology and Spherity may even collaborate on analysis and advertising and marketing tasks.

Identity answers goal the provision chain

Spherity CEO, Dr. Carsten Stöcker, informed Cointelegraph that many of the funding, analysis, and construction into blockchain-based identification answers isn’t directed at figuring out person voters.

“[B]lockchains and allotted ledgers are most commonly used to encode a myriad of different varieties of knowledge that is going into monitoring items and price because it strikes around the planet,” mentioned Stöcker. He endured:

“The applied sciences that we name identification methods do not simply establish person voters and correlate their prison, monetary lives with their virtual lives – in addition they establish machines, self sustaining algorithms, company entities, product knowledge, licenses, and lots of different issues that want a robust identification and signing rights to input into the program of auditable, but non-public transaction knowledge.”

“There are literally thousands of use-cases that experience not anything to do with KYC or human identification of any type, or even within the KYC house there are lots of techniques to construct in pseudonymity, revocable anonymity, disposable identities, and different functions past simply asking crypto customers to display their papers and peg their virtual lives to their standing as topics in a countryside,” he added.

Connecting Asian and Eu DLT platforms

Talking to Cointelegraph, Ontology co-founder, Andy Ji, said that the companies “are on the lookout for companions to construct an evidence of idea appearing end-to-end traceability of manufactured items from delivery in an Asian manufacturing facility to sale within the Eu marketplace.”

“In all probability, this might take the type of a Chinese language producer already the use of different Ontology products and services to make their transactions extra auditable, and a German import sector with very top regulatory compliance wishes or dealing with reputational dangers,” he added.

The partnership may even permit each companies to get admission to new markets, with Ontology having a longtime foothold in Asia whilst Spherity boasts a robust Eu presence — specifically inside Germany, Switzerland, and Austria.

The corporations hope to facilitate better interoperability and collaboration between Eu and Chinese language blockchain ecosystems.