Blockchain

Ontology and bloXmove bring decentralized identity to urban transportation applications

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Ontology, developer Autonomous identification system on the blockchain, Announced on Tuesday morning the establishment of a partnership with the decentralized mobile platform bloXmove 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 driving licenses, in a private, secure, and encrypted manner.

May need DID someday Complex decentralized financial applications, Such as urban traffic applications and decentralized health or auto insurance. Simple smart contracts are not enough to deal with, for example, decentralized insurance underwriters cover users’ claims for medical expenses in hospitals.

Ontology will be able to automate and secure settlement through bloXmove’s BLXM token. At the same time, bloXmove can use Ontology’s blockchain to achieve higher efficiency, lower cost, and interoperability with other networks.

Li Jun, the founder of Ontology, made the following comments on this cooperation:

Through the integration of Ontology’s DID and data solutions, the entire The ecosystem will become easier to navigate, more private and safer.

At the same time, Dr. Harry Behrens, CTO and co-founder of bloXmove, said:

“We are honored to work with Ontology to combine the bloXmove mobile blockchain platform with its state-of-the-art DID technology. Decentralized identifiers are a key addition to the blockchain and can create real-world commercial applications.”