This partnership is a step into the area of green finance using Ontology blockchain technology.
Cryptocurrency companies have always been interested in philanthropic acts. The crypto-community as a whole has invested a lot of resources into sustainable development. Giving back the society from tangible and intangible benefits the companies make.
Big guns in the cryptosphere like Binance created their own philanthropic arms. Thus, they’re pushing for social causes even harder. This has encouraged other crypto companies to also give back to society. One such company is Ontology, the company has taken heavy steps in the field of social services. Last week, the company tweeted about its collaboration with the Chinese NGO Shanghai Qinguye.
More info about the partnership
The company also shared a blog post on medium.com, giving more info about the partnership, its goals, and objectives.
The partnership will see Ontology work towards Green Finance and also work out a trusted solution for environmental information. All this will be in the area of green finance using Ontology’s blockchain technology.
According to the United Nations Environment Council, Green financing has the potential of increasing the level of financial flows from the public, private and not-for-profit sectors to sustainable development priorities.
The blog post further explained that using Ontology’s blockchain technology, Shanghai Qingyue can put data of their businesses on the chain. This will allow data collaboration and business innovation.
Simultaneously, data owners are able to authorize business organizations or research institutions to authenticate data ownership. With Ontology’s distributed data exchange protocol, individuals and institutions will have easy access to on-chain data packages for a certain data use fee.