Ontology Network is a blockchain based and a distributed ledger network that combines distributed identity verification, data collaboration, procedures, protocols, data exchanges, attestation, communities and various industry-specific modules, found online on ont.io, the Ontology network wants to build infrastructure for a P2P trust network which is cross-system, cross-application, cross-chain, cross-device, and cross-industry.
The problems that Ontology network wants to solve
There are problems in the current trust networks. The current network faces issues that make them unavailable to everyone. Some of the problems that Ontology network wants to solve include:
- Ineffective identity authentication
- Poor privacy protection
- Untapped data value
- Data management monopolization
- Data rights management
- Weak reputation systems
- Trustless in collaborative systems
- Data exchange security issues and much more.
Ontology network features
The Ontology network has a future built on trust. Some of the features that can be found on the ontology network include:
Multi-source identity system for people; Users can manage and collect their identity data from various sources including banks, businesses, institutions, colleagues, friends, banks and family.
Multi-source identity system for objects: Users can register digital identities of physical objects into the distributed network under supervisions of the product producers and product owners.
Distributed data exchange: Ontology has a distributed data exchange system for all data, but only with the consent of the owner. The data can be discovered and traded whilst meeting all the privacy requirements of the data owners and producers.
Distributed collaboration: Transparent authorities, activity, and participants create an ideal collaborative environment
Distributed equity management: The distributed equity management systems provide a safer circulation of multi-party and data evaluation.
Distributed community management: The distributed community system also allows for easy moderation of content and users
Distributed reputation system: The distributed reputation management system uses other data such as past activity to evaluate participants in the network.
Distributed financial services: The Ontology Network will help build a stronger credit record that allows individuals receive fairer rates from financial institutions.
More scenarios: Users can use the network for payments and purchase, software development, media, insurance, product database, government systems, manufacturing standards, healthcare and much more.
Ontology Network system
The Ontology network vision is to integrate and diverse distributed trust network. It wants to provide the tools for building a trust ecosystem. To do so, it incorporates multiple trust types into one integrated protocol system. Using the system, they plan to build a decentralized system that suits their operation.