Ontology is the blockchain for self-sovereign ID and Data.  To create ONTID, users will be able to use their cross chain web wallet, which is the easiest way to protect self through decentralized identity.

It is now possible for users to create an ONTID or import one directly on the web using ONTO web.  When having their identity, it makes things easy for users to manage assets from one place. It is now available on Binance, Ethereum, and Ontology Network with several other chains coming soon.

ONTO Web is the first cross chain web wallet that can be efficiently used to manage and own digital identities, data, and assets.  The ONTO Wallet Web is the first truly decentralized cross-chain wallet of its kind.

It is well known that Ontology and Binance have a long history of cooperation and partnership, which has helped generate benefits for both of them.  Also, the integration of Ontology’s Decentralized Identity Solution into the Binance Smart Chain is an added advantage.

There is a symbiotic relationship between Ontology and ONT ID looks like they are the sole partner for BSC in the process of providing a truly decentralized identity option and KYC user verification.

There is something called Ontology’s Trust Anchor Gateway (TAG) which is a decentralization platform that is based on the ONT ID which facilitates access to security features like KYC (know your customer) and global authentication services like Shufti Pro, IdentityMind, and CFCA, which are just a few to name.

When potential investors have a particular asset, it is important for the Binance Smart Chain to be able to verify these assets.  Users can add a layer of anonymity and protection to their identity using decentralization.

There are several pain points when it comes to compliance requirements while verifying qualified investors, cross-border sales of security offerings, and the duration in validity period between United States and the European Union.  During a Security Token Offering, the process of issuance, self-compliance, fundraising, and working with technical issues will be very time consuming and difficult.

Both of these are not conducive to a successful STO; however, by integrating ONT ID and adopting the ONT TAG, any kind of Security Token Offering (STO) on the Binance Smart Chain will be able to identify potential investors very quickly and it will be possible for them to nudge them through the checklists smoother.

This is also important for investors to be a part of in the process of having their personal ID protected through the decentralization powered by Ontology.  The interesting things it that Ontology is the only partner who are making this service possible in the Binance Smart Chain.