Ontology and Points have come together to work on Ontology’s “entity based” credit strategy that aims to connect entities and digital systems without the need for intermediate complex technologies. This will be a breakthrough in financial services as this project would allow distributed services to connect human, financial, business and physical entities over a range of applications and improve their customer experiences, built trust and improve efficiency.
Playing to their strengths
In this technological collaboration, Points will build an Ontology-based platform to provide various services such as financial technology products, credit data exchange, credit analysis models, and more.
In contrast, Ontology will provide Points with high-performance underlying blockchain technology, integration with Ontology’s blockchain system, data exchange services, data attestation services, generation and execution of smart contracts, and more. This collaboration would be Ontology’s first step in financial credit.
Ontology [ONT] and points [PTS]: Both parties share the excitement
Ontology’s founder Jun Li was quoted speaking about the partnership,
“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.”
Talking further about the partnership, Lee stated:
“It is a great honor to work together with PTS to integrate the Ontology distributed trust platform with financial credit. Blockchain technology has a natural connection with the financial credit industry and we expect that cooperation with PTS will bring more technical and application innovation. Both parties will work together to promote trust ecosystem development and delivering trust to society.”
Jiachen Zhang, Founder of Points shared a similar sentiment of excitement. He 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”.
Points (PTS) is a blockchain Fintech project founded by Sarah Zhang and Kate Shen. Its vision is to use blockchain technology to create the next generation of credit scoring and distributed credit services. Whereas, Ontology is a new high-performance public multi-chain project and a distributed trust collaboration platform. It provides new high-performance public blockchains that include a series of a distributed ledger and smart contract systems.
This partnership looks promising and a game-changing one as Ontology and Points form a perfect fit on paper. What is left to see is how well both can implement their individual visions and common goals.
Will this collaboration be able to deliver on its promise? Do let us know your views of the same!
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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.