Technological Partnership Between Points [PTS] And Ontology [ONT]

Technological Partnership Between Points [PTS] And Ontology [ONT]

Ontology (ONT) is a new multi-chain project with high performance and seeks to build a decentralized trusted joint platform. Points (PTS) which is a blockchain based credit service network announced that they will be getting into a technological partnership with Ontology (ONT).

With the help of Ontology’s blockchain systems, Ontology will be providing points with superior performance,  underlying blockchain technology and integration along with data attestation services, data exchange services and the production and implementation of smart contracts. In return, PTS will be constructing an Ontology-based platform offering services like credit analysis models, credit data exchange, financial technology assets and more.

Ontology’s business approach circles around uniting organisations and institutions like business entities with the use of digital systems without utilizing any transitional complicated technologies. The purpose of this is to connect human, business, physical and financial entities and provide dispersed services for a variety of application scenarios. Additionally, it will offer the users with an enhanced experience of using the platform and support efficiency and trust in a joint effort across society.

The Founder of Ontology, Jun Li said:

“Ontology is a trust system that integrates the physical world with the digital world. It supports decentralized, community-based, and dispersed trust sources and data source collaboration. It also supports customizable compliance for different business scenarios and regulatory environments. Blockchain technology has a natural connection with the financial credit industry and we expect that cooperation with PTS will bring more technical and application innovation.”

The founder of PTS, Jiachen Zhang, promises that this partnership will result in the planet’s first blockchain credit service system will be built, with a data volume “exceeding 100 million”. He believes that Ontology’s strong technology is apt for PTS’s talent pool. PTS seeks to create a next-gen credit scoring and distributed credit services. Their network uses a consensus mechanism which is based on zero-knowledge proof.

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Madhuri Arora
A passionate writer and an avid reader. I love watching action and superhero movies. Love food, music, travel and games.