Ontology and bloXmove to bring decentralized identity to urban transport apps

Published at: Nov. 23, 2021

Ontology, a developer of self-sovereign identification systems on the blockchain, announced a partnership with decentralized mobility platform bloXmove on Tuesday morning in a bid to accelerate the development of its decentralized credentials. The decentralized digital identity protocol, or DID, will enable blockchain participants to share their personal information, such as a driver's license, in a private, secured, and encrypted manner.

DIDs may one day be required for complex decentralized finance applications, such as urban transport apps, decentralized health insurance, or decentralized car insurance. Simple smart contracts would not suffice in processing, for example, where a decentralized insurance underwriter covers a user's claim for medical costs at a hospital.

Ontology would be able to automate and secure settlements via bloXmove's BLMX token. At the same time, bloXmove can achieve better efficiency, lower cost, and interoperability with other networks by utilizing Ontology's blockchain.

Li Jun, the founder of Ontology, issued the following comment regarding the partnership:

By integrating Ontology’s DID and data solutions, the whole [bloXmove] ecosystem will be made easier to navigate, more private, and more secure.

Meanwhile, Dr. Harry Behrens, CTO and co-Founder of bloXmove, said:

"We 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 you value voting equity! #ID #DID #Data https://t.co/uHXHsxjUo5

— Ontology (@OntologyNetwork) November 22, 2021
Tags
Decentralization
Adoption
Technology
Blockchain
Altcoin
Business
Cryptocurrencies
Privacy
Identity
Related Posts
Cointelegraph announces the Top 100 Notable People in Blockchain 2021
Let’s get one thing out of the way: You will not agree with every selection on the Cointelegraph list of the Top 100 Notable People in Blockchain. In fact, you will almost certainly disagree, vehemently, with many of the people we’ve included on this year’s list. You will rage at the inclusion of [insert comedy villain here] and the exclusion of, say, Charles Hoskinson. Particularly if you are indeed Charles Hoskinson. You will seethe at the fact that Arthur Hayes is nowhere to be found. (We looked.) You'll eat your own... words because you once tweeted that John McAfee was …
Decentralization / Feb. 1, 2021
Neo users explain why they've held on to the project despite China's heavy crypto crackdown
It's been a wild ride for Neo (dubbed "Ethereum of China") investors in the past few years, especially as China began to incrementally introduce harsher crypto regulations. But despite the odds, the community appears to be resilient, with a dedicated society of developers worldwide and a bourgeoning decentralized finance, or DeFi, hub that came into prominence via the launch of Neo N3 mainnet last year. As told by Neo investors Lucas and Jiří, who spoke to Cointelegraph, they were not expecting such a "huge drop in price" for Neo. Still, they nevertheless decided to hold their Neo tokens through all …
Decentralization / Feb. 28, 2022
Monero community reaches consensus for July hard fork
As told by Monero (XMR) developers over the weekend, on July 16, the Monero network passed a community consensus to initiate a mainnet hard fork at block height 2,668,888. The popular privacy coin's hard fork will include increasing the chain's ring size from 11 to 16, adding view tags to outputs to reduce wallet scanning time, introducing bulletproofs and implementing fee changes. Raising the number of ring signatures is meant to ensure that transactions have a larger anonymity set, making it harder to reverse engineer the sources of a transaction. One developer pointed out that view tags could reduce network …
Adoption / April 18, 2022
What are the most bullish cryptocurrencies to buy right now? | Find out now on The Market Report
The Market Report with Cointelegraph is live right now. On this week’s show, Cointelegraph’s resident experts discuss what they believe are the top three most bullish coins one should take a closer look at. But first, market expert Marcel Pechman carefully examines the Bitcoin (BTC) and Ether (ETH) markets. Are the current market conditions bullish or bearish? What is the outlook for the next few months? Pechman is here to break it down. Next up: the main event. Join Cointelegraph analysts Benton Yaun, Jordan Finneseth and Sam Bourgi as each makes his case for the most bullish cryptocurrency right now. …
Decentralization / May 3, 2022
9 crypto gifts for your Valentine’s Day date
For readers looking for unique, meaningful gifts for their valentine this Valentine’s Day, consider giving a cryptocurrency-related gift. Here are nine options: A cryptocurrency gift card Give your significant other the gift of choice by giving them a cryptocurrency gift card. They can use it to buy food or any digital asset they want, whether that’s Bitcoin (BTC), Ether (ETH) or a stablecoin like USD Coin (USDC). Virtual real estate Readers can buy virtual real estate in the metaverse, such as in Decentraland or The Sandbox, as a unique, romantic gift. Their significant other can build and customize their own …
Decentralization / Feb. 13, 2023