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Saturday, August 18, 2018
Ontology [ONT] Enters Automobile Industry: Partners With CarBlock
CryptocurrenciesNews

Ontology [ONT] Enters Automobile Industry: Partners With CarBlock

Ontology (ONT), a distributed trust collaboration platform, and open multi-chain venture declared their association with CarBlock. CarBlock is a transport system that provides solutions which are based on smart contracts and blockchain. At present, it has almost 410,000 vehicles which are active. They guarantee to offer real-world applications like auto insurance, car maintenance, repair and peer-to-peer rentals. Furthermore, they utilize auto dealerships and auto reports utilizing CAR tokens.

The two organizations will team up in core technology, coordinate business assets, and participate in network activities. Additionally, it was declared that CarBlock will airdrop tokens to cars their proprietors who are guaranteed by Ontology.

According to Ontology’s real economy strategy, their partners would take up the assignment of constructing a platform to store the vehicle information, in light of blockchain technology and vehicle network intelligent hardware. This platform will consolidate Ontology’s chain network platform with the other’s intelligent hardware and IoT solutions for a productive and reasonable flow of vehicle information within the ecosystem.

This would introduce a fresh, smart transport platform into the automobile industry of US which is esteemed at 1 trillion USD.

Founder of CarBlock, Jia Li spoke on this venture:

“We recognize Ontology’s technical accomplishments in public chain development, linking resources of ecosystem application partners, and dedicated support from partnering technical teams. CarBlock is the fastest growing blockchain application in the automobile industry with the most abundant industry resources. We will be using our position to promote the Ontology ecosystem and help Ontology provide more diversified industry solutions.”

Jun Li, the founder of Ontology said:

“We are very pleased to cooperate with CarBlock to connect Ontology’s distributed infrastructure and services to more application scenarios as part of our real economy strategy. Our partnership with CarBlock will ensure effective circulation of transport data, integration of Ontology with the smart transport field, and overall enrichment of the Ontology ecosystem.”

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Madhuri Arora
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