Ontology and bloXmove to bring decentralized identity to urban transport apps


Ontology, a developer of self-sovereign identification programs on the blockchain, introduced a partnership with decentralized mobility platform bloXmove on Tuesday morning in a bid to speed up the event of its decentralized credentials. The decentralized digital identification protocol, or DID, will allow blockchain members to share their private info, resembling a driver’s license, in a non-public, secured, and encrypted method.

DIDs might in the future be required for complicated decentralized finance purposes, resembling city transport apps, decentralized medical health insurance, or decentralized automotive insurance coverage. Easy good contracts wouldn’t suffice in processing, for instance, the place a decentralized insurance coverage underwriter covers a consumer’s declare for medical prices at a hospital.

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Ontology would be capable to automate and safe settlements by way of bloXmove’s BLMX token. On the similar time, bloXmove can obtain higher effectivity, decrease price, and interoperability with different networks by using Ontology’s blockchain.

Li Jun, the founding father of Ontology, issued the next remark concerning the partnership:

By integrating Ontology’s DID and knowledge options, the entire [bloXmove] ecosystem will probably be made simpler to navigate, extra personal, and safer.

In the meantime, Dr. Harry Behrens, CTO and co-Founding father of bloXmove, mentioned:

“We’re honored to accomplice with Ontology to mix bloXmove Mobility Blockchain Platform with their state-of-the-art DID Expertise. Decentralized Identifiers are the essential addition to Blockchain to create real-world enterprise purposes.”