Specifically, both companies will reportedly collaborate to release proof-of-concept pilots, showcasing applications for digital identity, focusing on the supply chain, mobility, and pharmaceuticals sectors, with an attempt to utilize the customer pool of Spherity.
Both parties will reportedly also jointly explore marketing initiatives and researching work.
Dr. Carsten Stöcker – head of Spherity – reportedly remarked that a majority of the investment, research, and development to roll out blockchain-powered identity tools are not directly concentrated on locating individual person.
“The technologies that we call identity systems don’t just identify individual citizens and correlate their legal, financial lives with their digital lives – they also identify machines, autonomous algorithms, corporate entities, product information, licenses, and many other things that need a strong identity and signing rights to enter into this system of auditable, yet private transaction information.”
Andy Ji – Ontology co-founder – reportedly shared both companies are on the hunt for associates to design a proof-of-concept, displaying “end-to-end traceability of manufactured goods from birth in an Asian factory to sale in the European market.”
The alliance between both firms will reportedly also open up to opportunities to different markets, providing that Ontology has previously established a strong foundation across Asia, while Spherity claimed to have a strong reputation in the EU region, particularly Germany, Switzerland, and Austria.