On 13th August, Ontology announced its partnership with Spokkz, a content dApp backed by Spuul. The partnership will ensure that the new developments that occur on Spokkz will be built on the Ontology MainNet.
LI Jun, the Founder of Ontology stated that:
“The core modules Ontology has built and are continuing to enrich are all linked to real business scenarios, so we are pleased to work with Spuul who will take an existing user base with millions of users and design a new project.”
Spuul is a media service that basically targets the Asian market and has over 60 million subscribers. The service gives users the option to stream, download and watch Bollywood content online. The streaming service has stated that the partnership will allow it to use the technology of the cryptocurrency company’s technical infrastructure, thereby enabling a larger user base. Spokkz has stated that:
“With Spokkz, the team aims to go further than simple tokenization of the content industry.. Meanwhile Malaysia, Indonesia, and India are huge markets for media, but they are all ignored by studios that cater to the so called “first-world” demographic. When people are on the Spuul platform, the Spokkz token will let them connect directly with media producers, and support narratives that tell the stories they find meaningful.”
Ontology’s ONT token is generally used for real-life applications and enterprise networks that require multiple ledger support. The Ontology network is also known for:
- Distributed data exchanges
- Distributed identity framework
- Distributed data exchange
Ontology was in the news recently when it was announced that the ONT token will be added for transactions on the Ledger cryptocurrency wallet. The company has revealed that the validation process for the third party application will be given guidelines that would ensure seamless transactions.
The latest partnership with Spokkz has come right after the Ontology network announced the launch of the Ontology desktop wallet called the OWallet v0.8.1. The individual wallet also performs other functions like designing a new wallet, importing and exporting the wallet, claiming ONG, and, sending and receiving assets.
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