Ontology and Points (PTS), a blockchain-based credit service network, have launched a technological partnership. Ontology will provide PTS with access to its smart contract and data exchange services on top of its high-performance multi-chain, and PTS will “build an Ontology-based platform to provide various services such as financial technology products, credit data exchange, credit analysis models, and more.”
PTS is a blockchain-based project that aims to develop the next generation of credit scoring and distributed crediting services. Its network utilizes “zero-knowledge proof, automatic transaction negotiation and execution through smart contracts, decentralized data storage and transactions, real-time data authenticity, timeliness checks, and cross-validation through asymmetric encryption technology.” PTS aspires to provide services that address the specialized needs of the financial services, marketing, credit, investment, and insurance industries.
The technological partnership is a result of Ontology’s “entity-based” strategy, which aims to connect various individuals and organizations to digital systems, with minimal need for complicated technologies. The strategy focusses on connecting individuals, financial institutions, physical objects and things, companies, and business people to one another through a seamless platform. The inevitable goal is to “provide users with a better service experience and encourage trust cooperation and efficiency across society.”
On the partnership, Jun Li, Founder of Ontology, said “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.”
Jianchen Zhang, Founder of PTS, said they’re excited about the partnership because “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.”
For more information about Points (PTS) visit their website.
For more information about Ontology visit one of the links below.
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
More posts by Dylan Grabowski