The two blockchain companies have signed a Memorandum of Understanding and entered into a technological partnership. As part of the deal, the companies will share their tech experience and vision, provide mutual consulting on their blockchain solutions, and jointly develop and integrate related technologies.
The parties are especially interested in applying the Decentralized Identity Solution (DeID) developed by Ontology, in a blockchain-based e-voting system recently launched by Waves Enterprise.
Voting technologies similar to those used in Waves Enterprise’s online voting service were tested and applied in an e-voting system developed for the Russian Central Election Commission by Rostelecom and Waves Enterprise during the single voting day in the Russian Federation, when more than 30,000 people took part in voting. This system employed the Russian unified identification and authentication system to identify users, which is centralized and not available to corporate users.
User authentication and identification are weak points of any e-voting system, even if it is fully implemented on a blockchain and utilizes advanced encryption. Together, the companies will explore how to integrate DID technologies into the voting service so that corporate users can seamlessly use and benefit from a fully decentralized approach.
“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.’’ – said Artem Kalikhov, CPO at Waves Enterprise.
Ontology’s founder, Li Jun, said: “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!”
About Waves Enterprise
Waves Enterprise – is an enterprise-grade blockchain platform for building fault-tolerant digital infrastructures. It combines both public and private networks as a hybrid solution, offering a high degree of data privacy and throughput, configurable encryption that can be tailored to local standards, and language-agnostic containerized smart contracts.
Waves Enterprise is one of the leaders in the market of corporate blockchain platforms. It has been used to implement projects for major Russian companies and government organizations in various industries: the national e-voting system, fintech services, trusted document management, supply chain management systems, and other solutions with high infrastructure security requirements.