Recapping the “Blockchain: Connecting the Future” Event hosted by CAICT
With the Senior Tech Lead of Decentralized Identity (DeID) Solution — Hu Ning
Ontology has always focused on creating a sustainable and effective method for implementing decentralized identity solutions in real enterprise case studies. This was highlighted by a recent event hosted by CAICT on “Blockchain: Connecting the Future — Digital Identity & Decentralized Identifiers,” where our very own Decentralized Identity Senior Tech Lead, Hu Ning gave a keynote speech outlining how ONT ID works, as well as how multiple layers of trust are required amongst users, systems and organizations, before rounding things off with a few case studies. As with most large scale blockchain events, Hu Ning wasn’t the only expert there as several other DID experts from W3C, DIF, EEA, Consensys, Spherity and Evernym gave informative addresses as well.
Below is a quick recap:
How ONT ID Works
Hu Ning opened the keynote with a brief outline of the technical infrastructure which powers ONT ID and the Ontology blockchain. Including how it identifies and connects people with their data to create and enable a self-sovereign digital identity. Your ONT ID also communicates with other DIDs registered in other blockchains and systems, since it was all developed under the guidance of the W3C DID standard. This makes ONT ID part of the core Ontology solution as it provides transparency and ease of use combined security and credibility as its main features. All trust based technologies are closely connected to identity as their core, and DID is also adopted and connected across multiple ecosystems including BTC, ETH, NEO, and Chainlink.
Taking it a step further, ONT ID is really the underlying framework for a much anticipated addition, the OScore — a fully digitalized credit scoring system based on your history of asset transactions and holdings. The OScore will allow users to interact with each other on-chain based on both on-chain and off-chain assets histories, while lowering collateral requirements and interest rates!
Multi-Dimensional Trust
Up next, Hu Ning elaborated on the trust requirement that ONT ID solves from all sides. This includes the trust between decentralized applications, as well as businesses and users — not to mention everything in between.
One of the goals with ONT ID is to help users find and manage their social networks & their web-apps, based on multidimensional trust endorsement. Another key area Hu Ning highlighted was the difference between Semantic, Syntactical and Object Abstraction Interoperability and how to build systems between for framework of operation, ultimately leading to trust.
Case Studies
To round things off, Hu Ning dove into two case studies, as well as possible applications in the medical and manufacturing industry. One that was recently completed with Daimler Mobility, and the other with OpenKG.
For Daimler Mobility, the Ontology team helped build a “Welcome Home” app on the MoveX platform. Through ONT ID, users were able to obtain and control the data for any Daimler vehicle on the road, and transfer these preferences into a new vehicle when they switched. Not only that, but all the data points including possible claims, wear and tear, and lighting choices were all recorded on the blockchain, binded with a user’s ONT ID.
Other case studies, such as in the healthcare system were also introduced by Hu Ning. Given recent outbreaks, a more decentralized, robust healthcare system where a user’s health records were not only available, but also protected, would be invaluable. A user would be able to go into the hospital, and ensure that they only share relevant data with the clinician, while locking that data and granting access to insurance data when paying for the hospital visit. That way, not only can health practitioners rely on more accurate and immutable data, but patients can also feel more assured that something as private as your health records are protected and decentralized.
Hu Ning also discussed Ontology’s provision of full tech support for Open KG, an open-source data sharing platform to record knowledge schema on the blockchain, further empowering the knowledge industry with blockchain technology.
To wrap things up, Hu Ning summarized “Ontology will continue to dive into the research and development of blockchain technology as well as the optimization of core performances of the platform. This will provide blockchain solutions for enterprises, and bring highly efficient and easy-to-use development tools for developers. The ultimate goal is to let every blockchain user own their own data and apply credit technology and solutions to all types of industries, further promoting trust collaboration in our society”
These are the types of case studies that demonstrate not just applicable, but much needed decentralized identities such as ONT ID. At the end of the day, the blockchain was designed to give users more control and privacy over their own data — something ONT ID contributes towards in a big step.
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