Ontology (ONT), a “high-performance” public blockchain network that aims to provide a “distributed trust” platform, announced on Tuesday it has joined the Celo Foundation Alliance for Prosperity, which is a mission-aligned network of organizations fostering social impact and financial inclusion through the use of blockchain technology. The Alliance was launched in March 2020 by the Celo Foundation, existing members include Andreessen Horowitz, Coinbase Ventures, and B12.
Ontology reported that becoming an Alliance Member, it will join other leading technology providers, nonprofits, mobile wallets, payment processors, and global investment firms in building mobile-friendly financial tools on the Celo open blockchain platform. Speaking about the Alliance, Andy Ji, Co-founder of Ontology stated that its purpose is to empower anyone with a smartphone to access digital currencies and ultimately foster a fairer financial system.
“We look forward to collaborating with other like-minded industry leaders to offer our ONT ID solution, with a view to jointly exploring identity-based DeFi applications built on Celo such as decentralized universal basic income or decentralized credit scores.”
Ji then added:
“The Celo Alliance for Prosperity is committed to bringing together an ecosystem of diverse organizations, all of whom are aligned in their mission of increasing financial inclusion through blockchain technology. We look forward to seeing the innovative financial solutions members of the Alliance are creating in response to major global challenges.”