NEO and Ontology sign MOU in connection with strategy and tech integration

14 May, 2018
by Richard Allen
News
NEO and Ontology sign MOU in connection with strategy and tech integration

The Ontology Foundation and the NEO Foundation have today signed a memorandum of understanding regarding strategy and technology integration.

Ontology is a distributed trust network that focuses on digital identity, data exchange as well as other trust collaboration scenarios. NEO is dedicated to the realisation of a distributed network that serves the smart economy. Both NEO and Ontology share a common vision, and both aim to promote blockchain technology.

Thus, it makes sense that the two foundations have agreed to work together. Ontology will be handling digital identity, data exchange services and other customised services, while NEO brings the smart contract platform and a distributed network infrastructure.

Ontology and NEO will be working together to build a smart contract ecosystem, aid in the development and adoption of NeoVM and NeoContract, as well as collaborating on the development of smart contract open standards.

The two have also decided to set up a joint taskforce and provide funding to relevant research institutions dedicated to exploring blockchain technology development.

For all the info check out Ontology’s release on medium.com

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