Ontology (ONT) To Work on Green Finance, Announcing Partnership With Chinese NGO Shanghai Qinguye
Many crypto companies have invested in society and sustainable development, and Ontology (ONT) is now one of them. Looking at Binance’s philanthropic arms, many other companies took the initiative to push for social causes and give back to the society.
Ontology has just announced that they will collaborate with Shanghai Qinguye, a Chinese NGO. In a blog post shared by Ontology on Medium, they revealed their objectives, noting that they would “work out a trusted solution for environmental information in the area of green finance using Ontology blockchain technology.”
Ontology’s step Towards ‘Green Finance’
The company also stated that they will work on Green Finance. According to the United Nations Environment Council, Green financing increases the level of financial flows from different sectors (banking, micro-credit, insurance, investment, public, private and non-profit) to “sustainable development priorities.”
In the blog post from Ontology, the company explained how their collaboration with Shanghai Qingyue will help focus on environment protection, adding that the Ontology’s blockchain technology will let the NGO put the data of their business on the chain for data collaboration and business innovation:
“At the same time, data owners are able to authorize business organizations or research institutions to authenticate data ownership. With the help of Ontology’s distributed data exchange protocol, individuals and institutions will have easy access to on-chain data packages for a certain data use fee.”
The Shanghai Qingyue NGO wants to deliver data to over 1,500 research institutions that are focused on the protection of the environment, and the partnership with Ontology will “help reach more users at home and abroad faster, and provide the infrastructure for the development of green finance,” added the company.
The Corporate Social Responsibility has begun to spread all over the world, and we saw how IBM engaged in creating a blockchain-based solution to tackle fake medicine in Africa: “it would track and restrict the constant flow of fake medicines being smuggled into the African nations,” noted CryptoNewsZ. In April, crypto exchange Huobi and digital token Dogecoin collaborated in a fund raising for Grateful Dog Rescue, a dog rescue and sheltering organization from San Francisco.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.