Polkadot Decoded Recap — Li Jun’s Keynote

This article was first published on OntologyNetwork - Medium

Polkadot Decoded Recap — Li Jun’s Keynote

A quick recap of our Founder’s keynote speech on DeID, DeFi, and OScore

With Covid-19 keeping more and more of us indoors, we are turning to digital means as a method to keep us closer and to host tech conferences as we would’ve back in the days when the gathering was permitted. Nonetheless, the Polkadot Decoded event was a smashing success, regardless of it being held virtually. For this year’s event, our Founder Li Jun was cordially invited to give a keynote speech on Ontology’s current developments, specifically centered around DeID, DeFi & OScore. Here’s a recap:

Li Jun opened, by stating how Ontology’s decentralized identity protocol & decentralized data protocol will help build new trust collaboration between Ontology and the Polkadot Network before diving into ONT ID. Our decentralized identity protocol works for other blockchains such as Ethereum as well. This cross-chain feature allows users to control their accounts, wallet & digital assets address — as well as traditional information like bank accounts and social media.

According to Li Jun, since you already manage your own identity, it is easier to perform data corporation based on DDFX — so that no single platform controls your data. All personal data, value, and privacy will be controlled by yourself.

This includes our OScore, the first on-chain credit score based on Ontology’s data protocols. It accumulates different on-chain data points and information based on different blockchains, including Polkadot in the near future. The integration with different chains for both OScore and decentralized identity is the next phase, as we will build on our current collection of partners including Binance Smart Chain, Ethereum, TRON, and Polkadot.

Succeeding the outline of cross-chain integration, Li Jun introduced a real use case for how DeID could work with Daimler Mobility’s “Welcome Home” feature.

When users use the car, they have ...

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