Ontology and Carblock have collaborated to bring together their core technology, integrate business resources, and cooperate in community operations. CarBlock will also airdrop tokens to cars and their owners who are certified by Ontology.
Multiplying strength by collaborating
Ontology is a new high-performance public multi-chain project and a distributed trust collaboration platform, whereas Carblock is the world’s first blockchain-based transportation solution supported by working applications. Both playing to their own strengths, this collaboration will build a transportation data platform based on blockchain technology and vehicle network intelligent hardware.
This would also fall under Ontology’s “real economy” strategy, and the platform will combine Ontology’s chain network model with CarBlock’s intelligent hardware and IoT solutions to efficiently and fairly circulate vehicle data within the ecosystem. CarBlock will use data to tap into the one trillion US dollar automobile market and create a brand new smart transport ecosystem.
Both side share excitement and commitment
Jun Li, Founder of Ontology, said:
“We are very pleased to cooperate with CarBlock to connect Ontology’s distributed infrastructure and services to more application scenarios as part of our real economy strategy. Our partnership with CarBlock will ensure effective circulation of transport data, integration of Ontology with the smart transport field, and overall enrichment of the Ontology ecosystem”.
From the other side speaking on the investment, Jia Li, Founder of CarBlock, said:
“We recognize Ontology’s technical accomplishments in public chain development, linking resources of ecosystem application partners, and dedicated support from partnering technical teams. CarBlock is the fastest growing blockchain application in the automobile industry with the most abundant industry resources. We will be using our position to promote the Ontology ecosystem and help Ontology provide more diversified industry solutions”.
While a lot of Auto companies and service providers are entering in collaboration with blockchain players the industry is soon expected to change for betterment.
Is blockchain the solution to trackability and authenticity issues of the automobile industry? Will other industries too will find solutions in blockchain technology? Do let us know your views on the same.
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.