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Ontology [ONT] partners with CarBlock, steps into automobile industry!




Ontology [ONT] partners with CarBlock, steps into automobile industry!
Source: Pixabay

Today, Ontology, a distributed trust collaboration platform, and public multi-chain project announced their partnership with CarBlock, a transport system solution provider based on blockchain and smart contracts. CarBlock has nearly 410,000 active vehicles, and claims to offer real-world applications, like peer-to-peer rentals, auto insurance, car maintenance, and repair, and also used car dealerships and car reports using CAR tokens.

The two companies will collaborate in core technology, integrate business resources, and cooperate in community operations. It was also announced that CarBlock will airdrop tokens to cars and their owners who are certified by Ontology.

As per Ontology’s real economy strategy, CarBlock would take up the task of building a platform to store the transport data, based on blockchain technology and vehicle network intelligent hardware. This platform will combine Ontology’s chain network platform with CarBlock’s intelligent hardware and IoT solutions to efficiently and fairly circulate vehicle data within the ecosystem.

This would usher in a brand new smart transport platform into the US’s automobile industry valued at $1 trillion.

Jia Li, Founder of CarBlock, speaks on this venture:

“We recognize Ontology’s technical accomplishments in public chain development, linking resources of ecosystem application partners, and dedicated support from partnering technical teams. CarBlock is the fastest growing blockchain application in the automobile industry with the most abundant industry resources. We will be using our position to promote the Ontology ecosystem and help Ontology provide more diversified industry solutions.”

Founder of Ontology, Jun Li, said,

“We are very pleased to cooperate with CarBlock to connect Ontology’s distributed infrastructure and services to more application scenarios as part of our real economy strategy. Our partnership with CarBlock will ensure effective circulation of transport data, integration of Ontology with the smart transport field, and overall enrichment of the Ontology ecosystem.”

On Twitter, Blockchain Cryptocurrency said, probably in relation to the weekend’s flash crash,

“Guys. Poor timing. Talk to me. Let’s talk PR.”

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A fourth year engineering student at SASTRA, working freelance at AMBCrypto. Writing and football are passions, and cryptos are an avid interest.


Ampleforth could help create next-gen synthetic commodities for portfolio diversification, claims Blockfyre report




Ampleforth could help create next gen synthetic commodities for diversification of portfolios claims new Blockfyre report
Source: Unsplash

Ampleforth was the first token to successfully complete an IEO on Bitfinex. This IEO caught the attention of a lot of users in the cryptospace, as the $5 million hard cap was sold out within the first 11 seconds. A new report by Blockfyre details how Ampleforth could pave the way for a new asset class for portfolio diversification in the future.

The report also highlighted a feature of Ampleforth that allows a flexible supply that adjusts to the market demand, while price simultaneously finds equilibrium. The token also aims to tackle the strong correlation that most cryptocurrencies share with Bitcoin.

Synthetic Commodity

Ampleforth project has the ability to create synthetic commodities that are disconnected when it comes to price fluctuations due to correlations, which is a common problem faced by both cryptocurrencies and traditional asset classes. Although Bitcoin was created to tackle problems that fiat currency inherently has, it still has some correlation issues.

In a world where traditional assets are widely affected by macroeconomic and global political scenarios, Ampleforth aims to create a new asset class, Synthetic Commodity, to tackle this problem.

The report stated,

“BTC as a synthetic commodity doesn’t show correlation to traditional markets such as stock stocks and bonds. Thus it reflects a potential good investment for portfolio diversification, in order to tackle macro-economic recession”

Although BTC is an uncorrelated asset, other cryptocurrencies are widely correlated to it. Ampleforth’s protocol introduces synthetic assets that “will always find a price-supply equilibrium by adjusting the price due to demand.” The report added,

“It needs to be emphasized, that these price-supply information will always be distributed amongst all token holders, so the supply of all token holders will decrease / increase. As a result, the overall cut of the total supply for each person will always remains the same.”

The report further said that if successful, Ampleforth will directly compete with Bitcoin’s $145 billion market cap and also against traditional asset market-based in fiat.

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