The China-based Ontology Network has recently announced that it has teamed up with the world’s first blockchain-based transportation solution provider, CarBlock. As per reliable sources, the partnership would enable both the firms to integrate business resources, cooperate in community operations, and collaborate on core technology.
For the record, Ontology Network is an integrated, diverse, and distributed blockchain network which combines communities, procedure protocols, distributed identity verification, data exchange, and various modules of smart technologies industry.
Speaking on the latest partnership, Founder of Ontology Network, Jun Li was quoted stating that the firm is delighted to join hands with CarBlock to connect distributed infrastructure and services of Ontology with more application set-ups as part of its real economy strategy. He further stated that the collaboration would facilitate overall enrichment of the Ontology ecosystem, integration of Ontology with the smart transport field, and effective circulation of transport data in smart technologies market.
Sources familiar with the development claim that CarBlock plans to create a transport data platform, in line with Ontology’s real economy strategy, that would be based on vehicle network intelligent hardware and blockchain technology. The platform would be built by combining CarBlock’s IoT solutions and Ontology’s blockchain network model.
Reportedly, the creation of such a platform will ensure fair and efficient circulation of vehicle data in the ecosystem. Moreover, the vehicle data would reportedly be utilized by CarBlock to generate revenue from the trillion-dollar global automotive sector and would aid in establishing a smart transport ecosystem.
Commenting on the company’s latest move, Founder of CarBlock, Jia Li was quoted stating that the firm recognizes Ontology’s technological expertise in public chain development, dedicated support from partnering technical teams, and linking resources of ecosystem application partners. With CarBlock emerging as the fastest expanding blockchain application in the automotive sector equipped with the most plentiful resources, the firm would promote the Ontology ecosystem and assist it to offer diversified solutions to the smart technologies industry.