In a continuation of their core principle of digital identity for regulatory compliance, Ontology confirmed their selection of IdentityMind Global as their partner for KYC (Know your customer) compliance.
Ontology, a new high-performance public blockchain project and a distributed trust collaboration platform, has selected IdentityMind Global™, Digital Identities You Can Trust, to perform know your customer (KYC) on the Ontology trust ecosystem. The two parties will work together to provide digital identity services and cultivate Ontology’s trust ecosystem.
Digital identity is core to Ontology’s infrastructure. Ontology uses ONT ID as complete distributed identity framework supporting identity verification and authentication for people, assets, objects, and affairs. Ontology’s distributed identity framework was created for users to build their own multi-factor identity portraits which they can authenticate, certify, and use.
As an emerging technology, it is important that the blockchain industry is compliant and takes the initiative in ensuring blockchain development continues to promote trust. Ontology will utilize IdentityMind’s digital identity, SaaS-based platform, to perform necessary know your customer (KYC) compliance requirements of the Ontology ecosystem as part of Ontology’s real economy strategy.
Speaking on the cooperation, Garrett Gafke, CEO of IdentityMind, said:
“We’re pleased to work with an exciting, ground-breaking project like Ontology, who are building a new, high-performance public multi-chain project and a distributed trust collaboration platform. Ontology and IdentityMind are both built upon creating a foundation of trust upon which today’s digital economy can operate”.
About IdentityMind Global
IdentityMind Global, Digital Identities You Can Trust, provides a SaaS platform that builds, maintains, and analyzes digital identities worldwide, allowing companies to perform identity proofing, risk-based authentication, regulatory identification, and detect and prevent identity fraud. Built-in transaction monitoring enables e-commerce fraud prevention, anti-money laundering (AML), and counter terrorism financing (CTF). Their patented eDNA™ technology securely tracks entities involved in each transaction (e.g. onboarding, account origination, money transfers, online payments, etc.) to build unique digital identity trust reputations. This reputation is anonymously shared between customers in IdentityMind’s Global Identity Network.