Ontology Partners with Venezuela Blockchain to Develop Economic Initiatives to Benefit Citizens

Ontology-celo alliance for prosperity

Partnership geared towards exploring DLT use cases and powering socio-economic development in Latin America

Ontology, the high-performance enterprise blockchain, has announced a partnership with Venezuela Blockchain, an organization committed to leveraging emerging technologies as tools for socio-economic development in Latin America. The collaboration will see Venezuela Blockchain engage Ontology’s technology to underpin a number of initiatives designed to benefit the wider Latin American community.

Among the initial solutions proposed as part of the collaboration is a planned integration of the Ontology platform into Venezuela Blockchain’s Family Social Program charity to provide a basic income to Venezuelans. Ontology, alongside one of its partners, Microworkers, will also be empowering Latin Americans to find task-based work online and receive payment in crypto.

Erick Pinos, Ontology Americas Ecosystem Lead, said, “Venezuela’s vibrant blockchain community is fueling the country’s ascent as a dynamic hub of DLT activity, and we are excited to open the doors to crossover collaborations between members of both the Venezuelan and Ontology communities. Today’s announcement gives expression to our commitment to broadening our own community horizons, and delivering tailored DLT solutions that will empower citizens globally.”

Alberto Guerrero Montilla from Venezuela Blockchain said, “Our country’s continued growth depends on the development of projects designed to guarantee the business and social expansion of our community, coupled with sustained adoption of new technologies. The reputable and proven performance of the Ontology platform has the potential to be the engine that powers the creation of new systems, enabling our push towards decentralization, and paving the way for practical applications that will empower citizens and increase prosperity among our community.”

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.

“Our advanced, innovative, and high-performing public blockchain network is well equipped to broaden opportunities for innovation in Latin America. The spirit of collaboration and a strong appetite for technological exploration within Venezuela’s burgeoning blockchain community will be a source of tremendous inspiration as we continue on this steady arc of growth that has defined our journey thus far, ” concluded Pinos.

About Ontology

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.

About Venezuela Blockchain

Venezuela Blockchain is an organization focused on Venezuela’s socio-economical shift through the implementation of expansion techniques tailored to fit the needs of a growing country. Their mission is to enable the adoption, development, and expansion of the blockchain universe through strategies that can be applied in their country through the direct promotion of available blockchain services.