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Ontology (ONT) is Building a Better Blockchain Business

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The cryptocurrency industry grew accustomed to the ERC20 token as the gold standard for altcoins. Now that NEO has grown in market share, we are starting to see NEP-5 tokens challenge that dominance. Projects like Ontology are the first to enter the market, an exciting prospect for those investors that still maintain concerns about the Ethereum blockchain. While Ontology’s purpose is necessarily ambiguous, the up and coming token does have some solid factors to consider.

First, it intends to create a platform from which the average business can incorporate blockchain technology. Making integration easier, if successful, would open up entire industries to the benefits of blockchain tech. These traditional companies often shy away from the prohibitive costs of development, which Ontology intends to use to their advantage. They will provide the tools, and the platform, to make blockchain development as common in the future as information technology is now.

Ontology and NEO

Over the past few months, the Chinese government showed itself to be very mercurial in relation to cryptocurrency. They have alternated between severe restrictions and shows of support, leaving many confused as to their intentions. However, one constant persists – NEO has earned the tacit approval, if not full support, of the Chinese government. As such, their NEP-5 standard ensures that new tokens will at least have the chance to succeed in the notoriously strict country. Given the recent increase in fraudulent initial coin offerings and exit scams like BitConnect, this isn’t necessarily the worst approach.

Ontology’s ONT token, itself built on the NEP-5 standard, airdropped to all NEO holders at the end of March. Although the two are completely separate entities, they are closely linked both in methodology and business partnership. NEO provided the initial code base for Ontology’s token, where Ontology will create an ecosystem in which non-blockchain companies can access that code base. It’s a symbiotic relationship that will help both currencies in the long run.

The Use Cases for Ontology

As Ontology plans on augmenting traditional businesses with blockchain features, it’s understandable that their specific use cases are somewhat nebulous. The key focus, for now, is to provide users with a way of verifying their identity using a slew of information provided from across the Internet. This trusted network is available to any company looking to add a layer of additional identity protection to their systems. As all the information is stored on the blockchain, and therefore both immutable and secure, it drastically cuts down on potential identity fraud cases.

Once the blockchain aggregates this information, it hides non-pertinent data points. That partially hidden information is then given to service providers at the request of the originating user. This can be useful for specific situations, such as medical, where some information is critical to the service – while the user would still prefer to avoid sharing everything. Various modules created by the ONT team allow companies to use information gathered from these identity pools. This includes statistical information on a group level but also scoring information for individuals. This opens new vectors for credit and social scores.

Decentralized applications are also native to the Ontology blockchain. Apps like ONTO allow users to control their collected information. They can use it as a form of digital ID for validation of assets. On a larger scale, the ONT Distributed Data Exchange Framework creates a full marketplace for this extremely valuable data. Ultimately, Ontology and their ONT token offer an entry point for businesses – particularly those in China that may feel blockchain is still risky, given their government’s current attitude. Additional adoption, particularly in this area of the world, can only help investors globally.

We will be updating our subscribers as soon as we know more. For the latest on ONT, sign up for our free newsletter!

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.

Image courtesy of Ars Electronica via Flickr

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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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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