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Ontology Olympus Accelerator, Partnerships and More

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Ontology
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Ontology had announced the launch of ecosystem accelerator, Ontology Olympus Accelerator (OOA) in early June. Released in the cryptocurrency market in March 2018, the high-performance public multi-chain and a distributed trust collaboration platform Ontology has already made it to the top-20 cryptocurrencies in the world. (As per coinmarketcap.com, 20th June 2018) The program summons product experts and technology from different fields to join hands in entrepreneurship and develop various business applications. These applications will be based on Ontology’s new public chain infrastructure that will help in creating an open source, collaborative distributed trust ecosystem. The Ontology Olympus Accelerator program has been structured to support all technical, funding, marketing, and legal works. The Ontology Foundation has decided to invest 1.5 billion USD worth of tokens approximately. These tokens will be used to support the teams selected and the existing start-ups.

Ontology Olympus Accelerator will facilitate custom business chain development, blockchain-based general hardware service platforms, collaboration with industry partners from different sectors, ecosystem community collaboration, Ontology user system collaboration and so on. Apart from these, OOA will add more ecosystem incubation depending on the requirements of the ecosystem. Ontology Advisors Group (OAG) has been created to offer different strategies and provide proper guidance for the Ontology ecosystem. Ontology Global Capital (OGC) has been created to provide support through funds. The project that will receive funds will be decided by a top blockchain ecosystem investment team. It is expected that Ontology will bring out the Ontology Olympus Accelerator details in July.

“Building the trust ecosystem goes hand in hand with the technology, applications, and governance of Ontology. This is nevertheless a huge and arduous task. We decided to launch the Ontology Olympus Accelerator precisely to develop the Ontology trust ecosystem and accomplish its goals. We hope with this accelerator program that more talent and applications can be added to the Ontology ecosystem, integrating technical elites internationally and the technical strengths of various partners to jointly build our cross-chain, -system, -industry, -application, and-terminal distributed trust ecosystem.”

  • Jun Li, founder of Ontology (ONT)

Partnership between Ontology (ONT) and CarBlock (CAR) Transport System

With the help of Ontology chain network model CarBlock will build a blockchain-based transport data platform. The collaboration will be between intelligent vehicle hardware and the technology behind Ontology. The upcoming months will be crucial as to what will be the output of this partnership. CarBlock will have the function of developing the platform that will store transport data depending on the information relayed by the blockchain technologies provided by Ontology and CarBlock. The chain network system of Ontology and the Internet of Things capabilities of the CarBlock ecosystem are crucial in this project.

The use of the distributed ledger technology in the transport system has the capability of rejuvenating the US automotive industry. Even though the industry amounts to nearly $1 trillion USD, it is facing stiff competition from markets of other countries. Ontology has had a big part in this latest venture of CarBlock as per its founder’s opinion. On the part of the Ontology network, it is another step towards collaborating blockchain technology with real economic strategy. In Jun Li’s words, “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.” It should be remembered that the ultimate goal of Ontology is to create a global ecosystem that will ensure a secure and trusted economic system.

Partnership between Ontology (ONT) and Contentos

Ontology (ONT) and Contentos has grabbed the attention of the content industry with their recent partnership announcement. They will join heads to work on two projects that will aim at blockchain research, developing applications as well as community building. The technology of Ontology Global Capital will redefine the content industry by investing in Contentos. The first joint project has been named as “Multiple Blockchain Solution Initiatives”. It will be focused on integrating digital content industry with the physical world such that it will meet the need for better cooperation opportunities and service experiences within the society. The objective is to establish a bond between the distributed digital systems and physical businesses and how it will be incorporated in various industries. The focus is also on creating a simplified system such that anyone can enjoy the benefits.

“Broad Cooperation in Blockchain Development” is the second project that will further the decentralization of the content process. The focus of both the teams (Ontology and Contentos) is on taking an open-minded approach when building their blockchain, and in the process, eliminate the ongoing competition among public chains trying to differentiate themselves from each other.

Price details

During the Q1 phase and its remnant effects in the early Q2 phase of 2018, Ontology (ONT) was one of the rare crypto coins that managed to maintain an overall bullish trend. The price of ONT at the time of writing, as per coinmarketcap.com, shows approximately $6.52 USD. The market cap of ONT is nearly $986,558,117 USD while the volume (24h) is over $102,775,000 USD. (As of 20th June 2018)

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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SonicX
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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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