Home Coins Ontology (ONT) In The Fast Lane: Ontology Accelerates Decentralized Identity for the Automotive Industry...

In The Fast Lane: Ontology Accelerates Decentralized Identity for the Automotive Industry | by The Ontology Team | OntologyNetwork | Aug, 2020

The Ontology Team

Ontology Launches New Decentralized Identity For the Automotive Industry

Ontology is focused on building trust in the automotive industry through the development of a blockchain-based decentralized digital identity solution that allows for driving data to be recorded, stored, and verified in a safe and secure way, offering a range of benefits to drivers and the wider automotive industry.

How does it work? Meet Daphne, and see how her driving experience is made easier with Ontology

Ontology Records Daphne’s Driving Data Making Her Driving Experience Better

Daphne is a florist and vlogger. She begins her day driving to the flower shop, activating ONT ID, Ontology’s mobile digital ID application and decentralized framework that allows users to securely manage their digital identity by storing their data locally on a phone or on trusted cloud storage with a private key that grants access only to the verified user. When Daphne opens her smart lock enabled car, her driving data has been recorded and stored in a safe and secure way.

Ontology Allows Daphne To Book Concert Tickets Quickly Using Ontology NFTs

While making her way to the flower shop, Daphne uses her built-in ONTO self-sovereign data wallet, a one-stop mobile application for the management of digital identity, data, and assets, to book concert tickets with her friends. She pays using ONT, Ontology’s utility token. Daphne books the tickets using built-in voice recognition, meaning she can safely use the application while driving. Daphne is then able to send the tickets directly to her friend through the Ontology network, which transfers the cinema ticket in the form of a Ontology Non-Fungible Token (NFT).

Ontology Allows Daphne To Earn ONT By Renting Her Car To Other Verified Safe Drivers

Later in the day, Daphne goes online to an Ontology-powered marketplace where she can earn ONT by renting her car to other verified, safe drivers. Daphne is able to easily verify that the driver she rents her car to is a licensed driver with a good driver history according to their ONT Score, Ontology’s decentralized reputation scoring system.

Following A Minor Car Accident, Daphne Settles Her Insurance Payment Immediately Through An Ontology-powered Insurance Application

After work, Daphne is back in her car on the way to the cinema, when she gets into a minor road traffic accident. By using an Ontology-powered insurance platform, Daphne can settle her insurance payment immediately. Because the information is recorded on the Ontology blockchain, the process is fully verified, fast, and efficient. Now needing to fix her car, Daphne is able to easily order replacement car parts. Details of Daphne’s car model is recorded in a decentralized way, making the process simple and ensuring Daphne can purchase the right parts.

Throughout Daphne’s day, Ontology has helped make her driving experience better. By integrating Ontology’s decentralized identity solution, Ontology is bringing much-needed trust to the driving industry, not only for Daphne, but for insurers, car renters, and other drivers, too.

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