Joining the brigade of Joint Ventures, there is yet another breaking news from the newsroom announcing a partnership between Waves Enterprises and Ontology. The common compatibility synonym that befits this nuptial is “Blockchain.” Both the Blockchain Behemoths signed a Memorandum of Understanding sealing the future of their technological know-how.
Exchange of technological know-how forms the mainstream of this alliance. Both parties have agreed to share their vision, tech-expertise and facilitate a mutual consulting of blockchain solutions. Joint Development and Integration related to technologies form an essential part of this coalition. Implementing Decentralised Identity Solution (DeID) forms the fundamental objective of this association as Ontology has expertise in this core area, and Waves Enterprise is highly keen to take this up in their recently enabled blockchain-based e-voting.
Waves’ core competence in voting technologies has already made swelling waves, and such similar voting solutions are being tested and executed in an e-voting system developed for the Russian Central Election Commission by Rostelecom and Waves. Waves had successfully conducted this during the single voting day in the Russian Federation, and it had roaring participation exceeding 30,000 people casting their vote. Additionally, the solution also facilitated an integrated identification and verification system to identify users, which is purely centralized and not available to corporate users.
However, this kind of verification and identification, even though executed on a blockchain, is not foolproof though it claims to implement advanced encryption. Hence emerges the role of these two Conglomerates who intend to integrate DeID technologies in the voting sphere as very pivotal and of paradigm significance eliminating bottlenecks in conventional web authentication. The primary objective is to make the entire functionality smooth and flawless, benefitting all through a decentralized methodology overcoming all transparency obstacles.
As candidly confirmed in a statement by Artem Kalikhov, CPO at Waves,
Ontology’s founder, Li Jun stated,
So next time you cast your vote at the e-polling booth, you know it is tamperproof and that all your data is kept in ballistic secrecy and that you owe your thanks to Ontology & Waves!