Ontology Drives Upwards With New Announcement

Ontology Launches Ecosystem Accelerator Program - Ontology Olympus Accelerator.

The program is focused on attracting developers to build business applications on the ONT network. ONT will invest U.S. $1.5bn to fund future development.@OntologyNetwork https://t.co/GG1GiJu95k — Origami Block (@OrigamiBlock) June 4, 2018

A couple of days ago, Ontology made a new announcement that has now started to impact the value of Ontology. It did seem to take a little while for the effects of this announcement to take hold, this is no doubt down to the retreating markets we have seen in the past few days. Now, inline with the current element of market positivity, Ontology is climbing at a ridiculous rate, here’s why- On the 4^th of June, Ontology announced the launch of the Ontology Olympus Accelerator in a Medium post, you can see it for yourself, here- https://medium.com/ontologynetwork/ontology-launches-ecosystem-accelerator-program-ontology-olympus-accelerator-ooa-a2ad9229de83 The Ontology Olympus Accelerator (OOA) is a new programme that aims to combine technology and product experts to encourage business minded people to build new applications on the Ontology public chain. According to Ontology:

“The Ontology Olympus Accelerator program will provide complete technical, marketing, funding, talent, and legal compliance support. The Ontology Foundation will invest approximately 1.5 billion USD worth of tokens, all of which will be used to support the future development of existing start-ups and teams chosen.”

We are seeing a lot of these sorts of projects established. We believe that actually, these projects are very important as they allow for access to blockchain technologies and research, by normal businesses who wish to adapt for the blockchain revolution. By working closely with Ontology, businesses can use OOA to seek financial assistance for their research and of course, can tap into the expertise of the Ontology team. According to Jun Li, the Founder of Ontology:

“Building the trust ecosystem goes hand in hand with the technology, applications, and governance of Ontology. This is nevertheless a huge and arduous task. We decided to launch the Ontology Olympus Accelerator precisely to develop the Ontology trust ecosystem and accomplish its goals. We hope with this accelerator program that more talent and applications can be added to the Ontology ecosystem, integrating technical elites internationally and the technical strengths of various partners to jointly build our cross-chain, -system, -industry, -application, and-terminal distributed trust ecosystem.”

As it stands, Ontology plan to release further details regarding OOA in July, within this, new applications will be released, and the official website will be fully launched. How has Ontology reacted to this news? At the time of writing, Ontology is valued at $8.07, up 8.63%. Therefore, we can see that this news has had a positive impact on Ontology and thus, can expect that the further details pending release in July will also have a similar positive impact. Overall, this is another example of blockchain and crypto-projects seeping into the mainstream. With it, comes inspiration, innovation and most importantly, investment. Best of luck to the Ontology team with this one!