- Ontology recently revealed a new partnership with a German digital identity and cloud wallet, Spherity.
- The two will join forces to work on developing Ontology's own supply chain identity solution.
- The companies stressed that the solution is not intended solely for identifying individuals, but any machine.
Ontology (ONT) recently found a new partner who would be able to help with the development of its supply chain identity solution. The company started collaborating with a digital identity and cloud wallet provider from Germany, Spherity.
The new partnership and its goals
The two plan to dedicate their efforts towards speeding up the development of digital identity solutions for enterprises and products.
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Not only that, but the partnership will also bring to the integration of Spherity’s wallet with Ontology’s blockchain. In return, Ontology will gain the ability to use Spherity’s own decentralized digital identity solutions.
As for the new solution, the two companies will collaborate on creating proof-of-concept pilots. Their purpose will be to demonstrate the applications for digital identity in the context of mobility, supply chains, pharmaceuticals, and alike. The two also plan to work together on marketing initiatives and research.
Dr. Carsten Stocker, the acting CEO of Spherity, sais that the majority of the investment, development, and research into these identity solutions is not dedicated to identifying individuals. Instead, blockchain will serve for tracking goods and value as they move around the world.
The identity system is not solely for identifying individuals
While the technology is called ‘identity systems,’ the purpose is not just to identify individuals and correlate their financial and legal lives with their digital ones. There are plenty of other entities that require identification, such as machines, corporate entities, autonomous algorithms, and more.
He stressed that “There are millions of use-cases that have nothing to do with KYC or human identity of any kind, and even in the KYC space there are many ways to build in pseudonymity, revocable anonymity, disposable identities, and other capabilities beyond merely asking crypto users to show their papers and peg their digital lives to their status as subjects in a nation-state.”
Ontology’s own founder, Andy Ji, also commented on the partnership. He said that the firm is looking for partners who would be able to help with creating a proof-of-concept that would show end-to-end traceability of goods from their creation to sale. Ontology is also working on improving its foothold in Europe, while it already has a strong presence in Asian countries.