Open Network for Digital Commerce (ONDC), an organization dedicated to democratize e-commerce across domains, and Dhiway, a leading provider of enterprise Web 3.0 technologies, have signed a Memorandum of Understanding (MoU) to collaborate on establishing an interoperable distributed ledger network as a scoring repository.
The MoU establishes a framework for cooperation between the two parties to leverage Dhiway’s expertise with support and guidance from ONDC in building open, secure, and transparent digital ecosystems using CORD, an open-source, layer-one distributed ledger framework.
The Network is envisioned as a decentralized, open and interoperable infrastructure that will facilitate trust and reliability in the digital landscape. By leveraging CORD, the network will provide a robust infrastructure to enable secure and transparent participant interactions.
“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 crafted to enable the creation of transformative population-scale applications, harnessing the power of cryptography and open standards. Its unique features, including persistent identifiers, immutable data history, seamless interoperability, and comprehensive data registries, ensure trust, verifiability, and privacy within a digital ecosystem. With a strong focus on data security and privacy, CORD adapts to the evolving needs of organizations while adhering to open standards, ensuring seamless integration with the broader web ecosystem.
T Koshy, MD and CEO of Open Network for Digital Commerce, stated, “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.”
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.”
The collaboration between Dhiway and ONDC represents a significant step towards transforming digital commerce and establishing a trusted and reliable ecosystem for businesses and consumers.
Dhiway is reshaping the digital future through population-scale technology solutions. We enable enterprises & government bodies to solve key challenges by driving data certainty & creating friction-free ecosystems. CORD, our tokenless blockchain technology, is the foundation for reimagining digital transactions.
Incorporated on 31st December 2021, Open Network for Digital Commerce (ONDC), a Section 8 company, is an initiative of the Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India to create a facilitative model that revolutionizes digital commerce, giving greater thrust to penetration of retail e-commerce in India. ONDC is not an application, platform, intermediary, or software but a set of specifications designed to foster open, unbundled, and interoperable open networks.