Ontology Network, a Singapore-based blockchain platform specialized in digital identity and data, has signed a Memorandum of Understanding with Waves Enterprise, an enterprise-grade blockchain platform that builds blockchain solutions for both public and private, to improve the recently launched blockchain-based online voting system by Waves Enterprise.
Ontology announced the partnership in a blog post on Wednesday, December 16. As part of the partnership, Ontology and Waves Enterprise will “share their tech experience and vision, provide mutual consulting on their blockchain solutions, and jointly develop and integrate related technologies.”
The main objective of the partnership is to apply the Decentralized Identity Solution (DeID) developed by Ontology, in a blockchain-based e-voting system recently launched by Waves Enterprise.
Waves Enterprise released a commercial version of its blockchain-based voting system on November 18, 2020. A similar system, jointly developed by Waves Enterprise and Rostelecom, was successfully applied during the single voting day in the Russian Federation, where more than 30,000 people took part in voting.
Potential users of the service are any organizations that make decisions based on voting like joint-stock companies, associations, and distributed management bodies such as a board of directors. Users can with the service through an intuitive web interface, accessible via a browser.
Waves Enterprise’s system combines blockchain technology with three cryptographic algorithms: Distributed Key Generation (DKG) Pedersen 91 protocol proposed by Torben Pedersen in 1991, Homomorphic encryption using the ElGamal encryption scheme, and Zero-knowledge proofs.
This has allowed the company to create an online voting service that meets the modern user’s needs for reliability, privacy, and transparency of e-voting. But user authentication and identification are weak points of any e-voting system, and this is where this partnership will come into play. Both companies will explore how to integrate DID solutions of Ontology into this system so that “corporate users can seamlessly use and benefit from a fully decentralized approach.”
Artem Kalikhov, CPO at Waves Enterprise, said:
“To implement and launch the voting process in some types of legal entities, we need to integrate our e-voting platform with KYC service providers, since trusted user authentication and verification is an essential requirement. Ontology DeID is a promising product that can help reach these goals. Therefore, we are focused on mutually beneficial cooperation and deep integration of our products.”
Li Jun, the founder of Ontology Network, commented:
“Voting is a new and profound application for identity verification and privacy. It is one area that Ontology is excited to integrate with, as our DeID can do wonders to ensure that the identities and data of people who vote are not only protected but also verified — a central issue facing many elections around the world. We look forward to deeper partnerships with Waves Enterprise, and hope that our technologies can work well together!”
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