Ontology: IdentityMind Global to cooperate on Digital Identity Services
Ontology, a new high-performance public blockchain project, and a distributed trust collaboration platform has announced that they will be collaborating with IdentityMind Global to work on digital identity services.
They will be working together to develop Know Your Customer [KYC] and provide digital identity services on the Ontology trust ecosystem.
The Ontology blockchain framework is built to support public blockchain systems. It also customizes different public blockchains for different applications. Its various protocol groups allow Ontology to support collaboration among chain networks as well.
The Ontology infrastructure lays great emphasis on digital identity. Ontology’s identity verification and authentication are supported by ONT ID, their complete distributed identity framework. This is accessible to people, assets, objects and affairs.
The aim of Ontology’s identity framework is to allow users to build their own multi-factor identity portrait which is theirs to authenticate, certify, and use.
Garrett Gaffe, CEO of IdentityMind, addressed the cooperation. He said:
“We’re pleased to work with an exciting, ground-breaking project like Ontology, who are building a new, high-performance public multi-chain project and a distributed trust collaboration platform. Ontology and IdentityMind are both built upon creating a foundation of trust upon which today’s digital economy can operate.”
IdentityMind Global, Digital Identities You Can Trust, provides a SaaS platform that:
- Builds, maintains, analyses digital identities worldwide
- Allows companies to perform identity proofing
- Has risk-based authentication
- Has regulatory identification
- Can detect and prevent identity fraud
The built-in transaction monitoring also enables:
- E-commerce fraud prevention
- Anti-money laundering [AML]
- Counterterrorism financing [CTF]
Entities that are involved in transactions like onboarding, account origination, money transfer, and online payments are tracked by Ontology’s patented eDNA technology. This helps develop a unique digital identity trust reputation for Ontology.