Ontology (ONT) and PTS Introduce an “Entity-Based” Strategy in Financial Credit 12300
News
Sharat Chandra
Jun 5, 2018 at 8:40 PM

Ontology (ONT), a new high-performance public multi-chain project and a distributed trust collaboration platform, and Points (PTS), a blockchain-based credit service network, announced the launch of a technology partnership. Ontology will present PTS with superior-performance underlying blockchain technology, integration with Ontology’s blockchain system, data exchange services, data attestation services, generation and execution of smart contracts, and more. PTS will create an Ontology-based platform to implement various functions such as financial technology products, credit data exchange, credit analysis models, and much more.

Ontology’s “entity-based” approach tries to form the bridge between entities and digital systems and remove involvement of sophisticated technologies. It will allow distributed services beyond a range of application scenarios to connect with the human, financial, physical, and business entities, and at the same time, provide users with better service experience and encourage trust cooperation and efficiency across society.

Jiachen Zhang, Founder of PTS, said, “We are looking forward to working with Ontology to advance the application of blockchain technology in the credit industry. With Ontology’s technology, strong community, and PTS’ top talent pool and high-quality industry resources, the two sides will work on credit-based distributed financial and life score services, promoting blockchain innovation and application, data self-governance, and building the world’s first blockchain credit service application with a data volume exceeding 100 million”.

The association with PTS is the first move for Ontology in financial credit. Speaking on the partnership, Jun Li, Founder of Ontology, 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. It is a great honor to work together with PTS to integrate the Ontology distributed trust platform with financial credit."

Image via Medium

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