Ontology will sit alongside Andreessen Horowitz, Coinbase Ventures, and more than 70 industry leaders in commitment to accelerate financial inclusion
Ontology, the high-performance enterprise blockchain, has officially joined the Celo Foundation Alliance for Prosperity, a mission-aligned network of organizations fostering social impact and financial inclusion through the use of blockchain technology.
As an Alliance Member, Ontology 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. Launched in March 2020 by the Celo Foundation, existing members include Andreessen Horowitz, Coinbase Ventures, and B12, with an additional 23 new members also announced today. They include; Ankr, Althea, Bitfy, Blockchain Education Network, Centrifuge, Dove Wallet, Dunia Pay, Grin, Hex Trust, LatAmTech, Mobike, MyCash Online, Netki, Ontology, Paxful, Peixe, Positive Blockchain, Ribon, Transak, and United Africa Blockchain Association.
Commenting, Andy Ji, Co-founder of Ontology said, “The purpose of Celo to empower anyone with a smartphone to access digital currencies and ultimately foster a fairer financial system resonates strongly with our values at Ontology and we are thrilled to be joining the Alliance. 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.”
Celo is an open blockchain platform that makes financial tools accessible to anyone with a mobile phone. It can be leveraged to build an ecosystem of powerful mobile applications, ranging from easier cash transfer programs to peer-to-peer lending, international remittances to digital assets and wallets. Celo’s digital currency — the Celo Dollar stablecoin — provides people all over the world with a stable, secure, inexpensive, and easy way to move money and engage in financial activities that were previously inaccessible to them. Ontology will also be adding Celo to the ONTO wallet app for users to easily store and send Celo.
Chuck Kimble, Partner at cLabs and Head of the Alliance for Prosperity, said, “We are excited to see the Alliance grow by nearly 50% since our initial announcement in March, with organizations committed to creating prosperity, especially in Africa and Latin America.”
With a primary focus on delivering a fast, user-friendly platform with a unique infrastructure that supports robust cross-chain collaboration, Ontology provides businesses with the tools to design their own blockchain solutions securely. Powered by the Ontology Token (ONT), the distributed collaboration platform allows businesses to enjoy the benefits of smart contracts and tokenization while retaining control of their sensitive data.
“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,” Ji concluded.
The news comes off the back of Ontology’s recent partnership with Venezuela Blockchain, an organization committed to leveraging emerging technologies as tools for socio-economic development in Latin America.
Ontology is a high-performance public blockchain and distributed collaboration platform. 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.
Celo is an open blockchain platform that makes financial tools accessible to anyone with a mobile phone. Its open source technology can be leveraged to build an ecosystem of powerful mobile applications, ranging from easier cash transfer programs to peer-to-peer lending, international remittances to digital assets and wallets. These applications aim to solve real-world problems standing in the way of financial inclusion for the people who need it most. Celo’s digital currency — the Celo Dollar stablecoin — provides people all over the world with a stable, secure, cheap, and easy way to move digital currencies and engage in financial activities that were previously inaccessible to them. Celo aims to make digital currencies accessible and easy to use for everyone, regardless of their technical know-how. Visit celo.org for more information.
About the Alliance for Prosperity
The Alliance for Prosperity is an ecosystem of mission-aligned organizations including nonprofits, merchants, and payment processors fostering social impact and financial inclusion through the use of blockchain technology. In support of mobile-first open blockchain platform Celo, the Alliance provides infrastructure and education to enable more people to use digital currencies — specifically, the Celo Dollar stablecoin — in the geographies that need it most. Each member’s combined contributions make it easier to move digital currencies around the world and create accessible financial tools on the Celo platform, with diverse use cases including remittances, humanitarian aid, payments, and microlending. Visit celo.com/alliance for more information.