NewsApril 6, 2018 by Kelly Cromley

ONTology To Build Blockchain Infrastructure Supporting Business App

ONTology NetworkONTology, a new public multi-chain project and a distributed trust collaboration platform, has formally announced cooperation with venture capital firms Sequoia China, Danhua Capital (DHVC), Matrix Partners China, and ZhenFund, co-initiating the Co-Builder Plan. All the participants of the Co-Builder Plan will build, govern and serve the industry ecosystem together.

The partnerships aim to explore application development, outreach, and incubation, and together build a new generation of public blockchain infrastructure and a distributed trust ecosystem to support real business applications and scenarios.

Speaking on the dawn of the ecosystem incubation with the new partnerships, Jun Li, Founder of ONTology, said,

“We are very thankful for the support and trust from Sequoia China, DHVC, Matrix Partners China and ZhenFund. We will continue to work on the research and development of blockchain technology and create a world-class blockchain infrastructure and trust-based application ecosystem. In addition, we will persist in finding viable blockchain solutions for different industries.”

ShouCheng Zhang, Chairman of DHVC opined that ONTology has strong technical advantages, a strategic blueprint for high-level development, and a deep understanding of business requirements, making it the representative of a China-led blockchain project with a clear development plan. DHVC hopes to empower China’s blockchain industry and looks forward to working with ONTology to together promote the global voice of China’s blockchain industry and build a bridge of trust between the physical world and the digital world to make our world a better and fairer place.

A partner from Sequoia China stated that blockchain is currently at a very early stage and there are still many application opportunities in commercial scenarios to be realized. Sequoia China believes the ONTology team has a rich accumulation of blockchain technology and business experience, which allow them to provide their partners and customers with comprehensive support.

Harry Man, Partner of Matrix Partners China, noted that the collision between the traditional internet and blockchain technology is a global trend. The enhancement of the original internet model with blockchain can make business operations more flexible and able to respond quickly to the changes in market demand. The biggest challenge for blockchain is to achieve truly decentralized trust techniques through different consensus models.

Man added,

“We are very optimistic that ONTology will continue to build the infrastructure and gateway for a truly global digital identity. Matrix Partners China, along with other investors and partners, aim to help ONTology expand their community and ecosystem via blockchain innovation.”

About ONTology

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 complete distributed ledger and smart contract systems. The blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. ONTology supports collaboration amongst chain networks with its various protocol groups. The network will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Based on specific scenario requirements, ONTology will continue to develop new common modules.