NEO and Ontology enter partnership to work on next-gen internet

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China's leading public blockchain projects, NEO and Ontology, will be working together on establishing the foundation for next-gen internet.

In a press release shared with CryptoSlate, the companies said that the partnership will focus on building an open cross-chain platform.

NEO, dubbed the Chinese Ethereum, and Ontology, a product of NEO's parent company, OnChain, will be working together on establishing the foundation for next-gen internet.

Da Hongfei, the founder of NEO and founder and CEO of OnChain, said that the company looked forward to working with Ontology to deliver real-life solutions and uses for blockchain.

Li Jun, the founder of Ontology, echoed his statement, adding that the partnership will not only benefit both companies' technology and community, it will also accelerate the development of blockchain in general.

NEO and Ontology changing strategies to deepen cooperation.

To fully deploy the capabilities of their interoperability protocols, both NEO and Ontology will have to introduce changes to their strategic focuses, the companies' said in the joint press release.

NEO will shift its focus solely on developing protocols and components that support a full spectrum of digital assets.

Parallel to that, Ontology will continue its work on building a future-proofed, decentralized identity framework.

The NEO Foundation and Ontology Foundation have joined forces back in 2018 to improve the development of API standardization, a sharing ecosystem of smart contracts, building open standards for smart contracts, and cross-chain technology innovation.

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