Ontology Launches $10 Million Initiative to Fuel Decentralized Identity Innovation and Adoption

[PRESS RELEASE – Singapore, Singapore, April 17th, 2024]

Ontology Network, a leading public blockchain, has announced a $10 million fund, designated in ONT & ONG tokens, to accelerate the adoption, Education, and development of decentralized identity (DID) solutions. This initiative is tailored to catalyze innovation across four critical areas: DID Education, ONT ID Technical Tutorials, ONT ID Adoption, and Building with ONT ID, ensuring a robust ecosystem for users, developers, and Businesses alike.

Ontology’s Pioneering Journey in Decentralized Identity

It’s important to highlight Ontology’s longstanding commitment to the DID field. With over six years in operation, Ontology has been at the forefront of DID technology, marking significant milestones that underscore its leading position in the space.

Notably, the user base for ONT ID, Ontology’s premier decentralized identity protocol, has impressively surpassed 1.6 million users. Additionally, initiatives like the ONTO Wallet and Orange Protocol have been instrumental in broadening the adoption of DID across the wider Web3 ecosystem, showcasing Ontology’s pivotal role in shaping the future of digital identity.

DID Education: Spreading Knowledge and Understanding

A cornerstone of this initiative, DID Education aims to enhance awareness and comprehension of decentralized identity. Ontology invites content creators and educators to develop high-quality, engaging materials that demystify DID concepts, focusing on Ontology’s protocols and products. Funding will support various formats, from articles and videos to immersive events, with a keen eye on content quality, reach, and innovation.

ONT ID Technical Tutorial: Empowering Users and Developers

To improve the accessibility and understanding of ONT ID, Ontology’s flagship DID solution, the fund will back comprehensive tutorials and documentation. From beginner to advanced levels, these resources will include practical applications, step-by-step guides, and interactive learning tools, all designed to facilitate easy implementation and utilization of ONT ID.

ONT ID Adoption: Fostering Integration and Partnerships

Encouraging the wider integration of ONT ID, this funding stream targets projects that establish strategic partnerships or integrate ONT ID into new or existing platforms. Emphasizing the importance of user experience and the potential for DID adoption, Ontology seeks proposals that demonstrate clear plans for integration, supported by detailed resources and community engagement strategies.

Building with ONT ID: Innovating for the Future

Ontology aims to inspire the creation of innovative applications and services utilizing ONT ID, showcasing its utility and versatility. Funding will support projects with a clear development and implementation plan, evaluating proposals based on innovation, market potential, and sustainability. This effort is designed to not only demonstrate ONT ID’s capabilities but also to ensure the growth of the ecosystem.

Comprehensive Support and Community Engagement

Beyond financial backing, Ontology is committed to providing a spectrum of support to ensure the success of funded projects. This includes skill-level segmentation for tutorials, idea incubation support, technical resources, and market validation guidance. Additionally, milestone-based funding, community involvement in project selection, and follow-up support are integral components of the initiative.

Join Ontology’s DID Fund

Ontology’s DID Fund presents a unique opportunity for creators, developers, Businesses, and educators to contribute to the evolution of digital identity. By fostering a community of innovation, Education, and adoption, Ontology is not just funding projects but nurturing the future of decentralized identity.

Interested participants are encouraged to bring their creative and innovative ideas to the forefront, leveraging Ontology’s support to make a tangible impact in the DID space. Applicants are encouraged to submit their project proposals here ensuring a streamlined and accessible application process.

About Ontology

Ontology is a high performance, open source blockchain specializing in digital identity and data. Ontology’s unique infrastructure supports robust cross-chain collaboration and Layer 2 scalability, offering Businesses the flexibility to design a blockchain that suits their needs. With a suite of decentralized identity and data sharing protocols to enhance speed, security, and trust, Ontology’s features include ONT ID, a mobile digital ID application and DID used throughout the ecosystem, and DDXF, a decentralized data exchange, and collaboration framework.

About ONT ID

ONT ID is a decentralized identity framework based on the W3C recommendations for decentralized identifiers and verifiable credentials, using blockchain and cryptographic Technology, that can quickly identify and connect people, data, and services. It is decentralized, self-sovereign, privacy-preserving, and easy to use, enabling users to fully control their own data and identities.

Stay Connected

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For more information, reach out to [email protected].