On May 29, Ontology announced partnership with Chain of Things (COT), its first strategic partnership with an internet of things (IoT) hardware platform. The two organizations will seek to co-build a platform that combines Ontology’s chain network model and COT’s IoT and intelligent hardware to support community and business-based trust identification, collaboration, transactions, and transfers.
Ontology is a high-performance public multi-blockchain network and distributed trust platform. It aims to customize different blockchains for different application scenarios such as distributed digital identity frameworks, distributed data exchange protocols, and more.
COT is a “general-purpose intelligent hardware infrastructure platform based on multi-chain blockchain technology.” The platform provides links to IoT intelligent hardware system customization and support services for different types of trust transactions.
The hardware platform provider hopes to establish a trust-based identification-of-things as a basis for economic interaction, transaction, and transmission through building a basic system of trust in all things.
The partnership is part of Ontology’s ‘entity-based’ strategy to establish connections between businesses and enterprise with distributed digital systems. Ontology aims to connect distributed digital services with people, assets, and objects to enhance trust built around cooperation and efficiency.
Of the strategic partnership with COT, Jun Li, Founder of Ontology, said “[COT has] rich experience from different industries and an overall profound accumulation of knowledge in the fields of intelligent hardware and the IoT. ” Additionally, Li is “optimistic about blockchain [application] scenarios which involve different entities [that] cannot be separated from their interaction with objects.”
Wen Wan, Founder of COT said “the COT cooperative public chain system combined with the IoT intelligent hardware solution was born to solve the pain points of physical business scenarios.” And, that the partnership will “jointly promote the development and success of a system which fully integrates objects with our digital world.”
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