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Coinbase in Japan – Ripple [XRP] adoption or just Mitsubishi partnership?

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Ontology, a new high-performance, multi-chain project whose aim is to build a decentralized trust collaboration platform, and Points [PTS], a blockchain based credit service network, announced today a technological partnership between the two platforms.

Ontology shall provide Points with a high-performance underlying blockchain technology and integration with Ontology’s blockchain systems, data exchange services, data attestation services, the generation and execution of smart contracts. In turn, PTS will build an Ontology-based platform to offer services like financial technology assets, credit data exchange, credit analysis models and more.

Ontology’s business strategy revolves around bridging entities [like business entities] with digital systems without using any intermediate complicated technologies. This is to connect human, financial, business and physical entities and offer distributed services for a range of application scenarios, and also provide users with a better experience of using the platform and encourage efficiency and trust collaboration across society.

Jun Li, the Founder of Ontology, said:

“Ontology is a trust system that integrates the physical world with the digital world. It supports decentralized, community-based, and dispersed trust sources and data source collaboration. It also supports customizable compliance for different business scenarios and regulatory environments. Blockchain technology has a natural connection with the financial credit industry and we expect that cooperation with PTS will bring more technical and application innovation.”

Jiachen Zhang, the founder of PTS, promises that Ontology’s strong technology combined with PTS’s talent pool and high-quality industry resources, will result in the world’s first blockchain credit service system will be built, with a data volume “exceeding 100 million”.

PTS is a FinTech project whose vision is to create next-gen credit scoring and distributed credit services. The PTS network uses consensus mechanism based on zero-knowledge proof and can complete automatic transaction confirmation and execution based on smart contracts.

It can also conduct decentralized data storage and transactions, timeliness checks, and real-time data authenticity and cross-verification. The PTS ecosystem has enormous potential to improve vertical industries including financial services, marketing, credit, investment, and insurance.

moonbat13, said on Reddit:

“Never seen a project move so quickly. Lots of partnerships and vision for the future.”

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