The Open Network for Digital Commerce (ONDC) and Dhiway, a prominent enterprise Web 3.0 technology provider, have signed a Memorandum of Understanding (MoU) to collaboratively develop an interoperable distributed ledger network as a scoring repository.
The strategic partnership between ONDC and Dhiway aims to harness Dhiway‘s expertise in building open, secure, and transparent digital ecosystems using CORD, an open-source, layer-one distributed ledger framework. ONDC will provide support and guidance, as the two parties collaborate to create a decentralized, open, and interoperable infrastructure.
“Our engagement with ONDC opens up an opportunity to secure digital transactions at scale in a data-driven economy”, said Satish Mohan, CTO of Dhiway. “Combining our expertise in building Web 3.0 technologies with ONDC’s vision for open and secure digital commerce will create an ecosystem that fosters trust and enables seamless transactions across domains.”
CORD has been designed to enable the creation of transformative population-scale applications, utilizing cryptography and open standards. Its unique features, including persistent identifiers, immutable data history, seamless interoperability, and comprehensive data registers, ensure trust, verifiability, and privacy within the digital ecosystem. The framework is built with a strong focus on data security and privacy, adapting to organizations’ evolving needs while adhering to open standards, and ensuring seamless integration with the broader web ecosystem.
Speaking to the partnership, T Koshy, MD, and CEO of Open Network for Digital Commerce, said “We are excited to work with Dhiway in our mission to revolutionize digital commerce. Their proven track record in developing secure and transparent digital ecosystems will help us establish trust and reliability in every transaction on the ONDC Network.”
Further commenting on the development Pradeep K.P, CEO of Dhiway Networks said, “Dhiway’s technologies focus on discovery, engagement, and transactions with provenance-based data streams. The collaboration with ONDC is a commitment to reshaping digital interactions for population scale using Public Digital Infrastructure.”