Ontology Japan Mainnet Event Summary. ONT +30% in last 5 days. - Ontology News, ONT Price Analysis. Wednesday, August 29
Ontology Japan Mainnet Event Summary
On August 25th, Ontology hosted their Japan community event focused on the MainNet launch in Giza, Tokyo. The founder of Ontology, LI Jun talked about project's vision and goals. While exploring the possibilities for e-commerce he noticed that even the simplest transaction requires multiple factors of trust, therefore a distributed trust ecosystem such as Ontology, could play an important role in the development of this market.
The next part focused on the ONT client, desktop wallet OWallet and other applications built upon and for Ontology. Smart Contracts development tool SmartX allows anyone to create contracts using templates or trusted community developers who can customize the templates for the users. This especially targets the potential everyday usage for smart contracts. LI Jun said: "This Ontology-developed software can enable users to manage and collaborate with family, friends, or colleagues without supervision, meaning we are allowed to put more trust in technology."
There was also a mention of future plans and targets for the developers, the founder talked about technology development in Asia, focused on countries like China and Japan: "In China, the number of users is huge and the demand is diverse. We also have good infrastructure and high-quality internet resources, which shows the huge potential of technology development in the China market. If a technology product can provide extensive services in China, then it can stand the test to become a world-class product. Ontology will continue to work in this direction and support applications across the world."
As a way of extending the Ontology presence in these markets, they will later hold a hackathon even in Tokyo and will also discuss cooperation opportunities with several Japanese developers and companies. The next meetup is scheduled for 16th of September and will take place in Signapore.
ONT Price Movement Analysis
ONT has made a long and positive way in last 5 days, especially taking into the considerations what seems to be the current bullish attempt of the market with most of the top cryptocurrencies rapidly increasing their values. On August 24th, ONT was trading confidently slightly above $2 and it is the most stable it got this week. A sudden price spike put it almost to $2.5, however the next day on August 26th, ONT fell to $2.20. This has started the whole run towards today's prices, as each day it was exploring new higher regions. On August 27th, ONT hit $2.59, then few hours later broke past $2.62. Yesterday, the top was achieved at $2.76, while August 29th sees a few weeks record of $2.85. Since then it has already corrected a bit to $2.70 region, however it still seems to be going further up.
ONT/USD Price Chart, Wednesday August 29th:
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