Ontology was designed to bring trust and safety to Web 3.0 using the decentralized identity. It recently announced that ONT ID, its application for decentralized digital identification, has exceeded a total of 1.5 million users, signaling a massive endorsement for decentralized identity.
ONT ID connects people and services in a decentralized manner using Blockchain and cryptography technologies. It empowers users to take control of their digital identities by choosing how and when their data is shared and with whom. Since there are cases of data breaches and attacks, centralized systems have repeatedly failed to protect consumer data. As a result, people are putting their trust in Blockchain technologies to safeguard their digital identities.
ONT ID saw a surge in sign-ups in mid-June, when the crypto bull run took place, indicating that movements in the larger crypto ecosystem drive acceptance in diverse parts of the Blockchain business. Most of the app users are from Asia (50 percent), indicating significant demand for decentralized digital identification apps in that region, followed by the United States (7 percent).
Embracing ONT ID
Businesses have adopted ONT ID all around the world. Ontology has teamed up with Mercedes-Benz maker Daimler Mobility to create ‘Welcome Home,’ a finely designed in-car personalization and management system that stores drivers’ preferences using ONT ID. ONT ID is also being utilized to help employees get rewards and have better access to finance through a relationship with global freelancing marketplace leader, MicroWorkers.
Ontology recently collaborated with ROCKI, a coming-of-age music streaming service and NFT platform based on the Binance Smart Chain (BSC), to utilize user-friendly decentralized identity solutions that will help customers avoid acquiring non-valuable NFTs.
The fact that over 1.5 million people have signed up for ONT ID defines a strong need for Blockchain solutions that protect users’ privacy in the face of continuing attacks, identity theft, data breaches, and ransomware assaults. Developers will find it easier to use ONT ID and create new use cases that feed into the larger decentralized identity ecosystem with the updated offering.
Ontology products that are connected with ONT ID
ONT Login– It makes trustless global authentication for websites and applications feasible, allowing users to connect to different platforms without remembering passwords. It is now integrated with ONT ID.
Ontology TAG– Ontology’s latest decentralized identity verification solution, ONT TAG, allows apps to check user credentials, including KYC verification. It also enables users to safeguard their privacy by approving information autonomously.
OScore– It is a DeFi credit score computed utilizing several forms of on-chain transaction data to determine creditworthiness.