“Entity-Based” Strategy provided by Ontology and PTS

Ontology, a high-performance public multi-chain project, and Points (PTS), a blockchain-based credit service network, today declared about their partnership
05 June 2018   476

Ontology is to promote PTS with high-performance blockchain technology, integration with Ontology’s blockchain system, data exchange services, generation and execution of smart contracts, data attestation services, and more. PTS is going to build an Ontology-based platform in order to supply different services such as financial technology products, credit data exchange, credit analysis models.

With Ontology’s technology, strong community, and PTS’ top talent pool and high-quality industry resources, the two sides will work on credit-based distributed financial and life score services, promoting blockchain innovation and application, data self-governance, and building the world’s first blockchain credit service application with a data volume exceeding 100 million.
Jiachen Zhang
Founde, PTS

“Entity-based” strategy by Ontology aims to connect entities and digital systems without the need for sophisticated technologies. This will let distributed services of a range of application scenarios to link with human, financial, physical, and business entities, and at the same time, give the users a better service experience and endorse trust coollaboration and efficiency. The partnership with PTS gives the first step for Ontology in financial credit. 

Ontology is a trust system that integrates the physical world with the digital world. It supports decentralized, community-based, and dispersed trust sources and data source collaboration. It also supports customizable compliance for different business scenarios and regulatory environments. It is a great honor to work together with PTS to integrate the Ontology distributed trust platform with financial credit. Blockchain technology has a natural connection with the financial credit industry and we expect that cooperation with PTS will bring more technical and application innovation. Both parties will work together to promote trust ecosystem development and delivering trust to society.
Jun Li
Founder, Ontology

Ontology is aimed on providing common modules on the underlying infrastructure for various types of distributed scenarios, such as those for the distributed digital identity framework, distributed data exchange protocol, and so on. Built on specific scenario requirements, Ontology will continue to deploy new common modules.

SEC to Slap ICO Founder With $30K Fine

Additionally, David Laurance, founder of Tomahawk Exploration LLC got 2 lifetime bans
15 August 2018   118

The US Securities and Exchange Commission (SEC) on Tuesday reported that it has issued two new bans directed against David Laurence, the founder of Tomahawk Exploration LLC. Tomahawk allegedly stands behind fraudulent ICO, writes CoinDesk.

Laurence, according to the SEC, raised funds through the sale of Tomahawkcoin tokens, in the process of using misleading advertising materials and fraudulent statements that it is a tenant of drilling sites.

Moreover, the sale of Tomahawkcoin tokens, according to the SEC, was accompanied by a false promise that "the holders of tokens will be able to exchange Tomahawkcoin for shares and receive a potential profit from oil production and secondary tokens trading."

According to the SEC, Lawrence neither acknowledged nor denied the charges, but he and his company agreed to these bans, as well as a fine of $ 30,000.

...Tomahawk issued tokens as part of the Bounty Program to generate interest in the ICO, which benefited Tomahawk. Distribution of tokens that are securities in exchange for promotional services to advance the issuer's economic objectives or create a public market for the securities constitute sales for purposes of Section 5 of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
 

SEC

The first prohibition of the SEC is a ban on the director's work in public companies, and the second does not allow Lawrence to own and trade in so-called "penny" shares. Both prohibitions, according to the announcement of the SEC, are lifelong.