Big news in the crypto world — Ontology and NAGA have announced the start of a long-term strategic partnership to commence a significant and powerful change in business operations, and bring the Ontology infrastructure to the massive financial technology markets.

The partnership of the two giants will be aimed at exploring application development, outreach, incubation, and building a new generation of public blockchain infrastructure and a distributed trust ecosystem. The purpose will be to support real business applications and scenarios.

Ontology provides new high-performance public blockchains that include a series of complete distributed ledger and smart contract systems. On the upper layer, Ontology will constantly provide common modules for different kinds of distributed applications, such as distributed digital identity framework (ONTO), distributed data exchange protocols (ONT DDXF), distributed credible data (ONT Scores), and so on.

Ontology Founder Jun Li said:

“We are happy to welcome NAGA to build up the application ecosystem through wielding Ontology’s next-generation public chain infrastructure. The NAGA Group AG (N4G) is a leading publicly listed German fintech firm, backed by Fosun Group and the German Stock Exchange (Deutsche Börse AG). We feel confident that together we can open up the international market, expand the Ontology ecosystem, and advance global blockchain development.”

NAGA currently has a number of big projects in operation: NAGA WALLET, NAGA TRADER, NAGA CARD, NAGA COIN (NGC), and several other projects in development. Thus, the partnership will not only help to structurize business processes at NAGA, but can potentially mean that one of the biggest Crypto Ecosystems will soon be powered by the Ontology platform.

NAGA Founder and Executive Director Benjamin Bilski claimed:

“We are super excited about the Ontology project and we are eager to announce new developments in cooperation with the platform. We believe that it will help to boost and grow our business exponentially. ”

NAGA Founder and Executive Director Yasin Sebastian Quresh added:

“We think that this partnership can really change the way crypto companies act and execute their promises. Our and Ontology’s precision and hard-working ethos will help us to not only deliver products ahead of the roadmap, but to also make them more reliable and more valuable for the whole community. ”

Partnership description

While NAGA aims at financial inclusion across the globe, as well as the provision of the best industry-leading products; Ontology focuses on trust, identity, data exchange, and authorization. The wide range of industries that Ontology targets, such as insurance, government, and medicine, makes it a wide-scale project that can provide even greater efficiency and trust within NAGA’s ecosystem.

Ontology Brief

Ontology is a new high-performance public multi-chain project and a distributed trust collaboration platform. Ontology provides new high-performance public blockchains that include a series of distributed ledger and smart contract systems. Ontology blockchain framework supports public blockchain systems and is able to customize different public blockchains for different applications. Ontology supports collaboration among chain networks with its various protocol groups.

Ontology will constantly provide common modules on the underlying infrastructure for different kinds of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Based on specific scenario requirements, Ontology will continue to develop new common modules.

NAGA Brief

THE NAGA GROUP (NAGA) is a German publicly listed fintech company with a focus on financial markets, virtual goods and cryptocurrencies, founded in August 2015 by Yasin Sebastian Qureshi, Benjamin Bilski, and Christoph Brueck. The company’s goal is to drive the development, marketing, and growth of disruptive applications for financial technology, and to actively participate in the change and opening up of the existing financial system. The word “NAGA” is Sanskrit and means “Cobra snake”. It is also the name of the world’s hottest chili variety. In 2017, NAGA completed a successful IPO and established the NGC in cooperation with its partner Naga Development Association Ltd.