Public blockchain project Ontology is collaborating with 4Stop to perform identity authentication services on its distributed trust collaboration platform. 4Stop’s systems will now be used by the platform for completing Know Your Customer (KYC) procedures on its ecosystem. The trust network will be benefited through these verification and authentication exercises.
How Will 4Stop Help Ontology?
As stated in a press release, Ontology and 4Stop will work together to create digital identity services for users and complete KYC checks, which will be helpful in reinforcing the Ontology trust ecosystem. 4Stop will onboard the Ontology Distributed Ledger Technology and will make use of its global certification sources to authenticate and verify people. The technology can also be used to authenticate objects, assets, and affairs.
“Ontology’s ‘real economy’ strategy is to deliver robust and comprehensive multi-source identity portraits that enable stronger trust cooperation and efficiency in real-world use case scenarios.”
On the other hand, an interesting thing about 4Stop is that it is designed with local, national and global compliance needs in mind, which helps in better risk management and accelerates business performance. The Germany-based company provides over 1,800 global data sources to clients in a single integration.