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Ontology will launch Paxos Standard (PAX), a regulated USD stablecoin, on the Ontology blockchain, in May.

"In recent years, there has been a growing interest, within the financial sector, in the adoption of ontology-based conceptual models to make the nature of conceptualizations explicit, as well as to safely establish the correct relations between them, thereby supporting semantic interoperability. Despite the wide number of efforts to create a unified view of the reality related to economic and financial domains, no comprehensive enough formal model has been developed to, on one hand, accurately describe the semantics regarding the world of money and currencies and, on the other hand, differentiate them from virtual currencies - of which cryptocurrencies are the most significant representative. This research aims at tackling these questions by conducting an ontological analysis of money and related concepts, grounded in the Unified Foundational Ontology, based on a literature review of the most relevant economic theories, and considering recent innovations in the financial industry."

"The energy sector is a complex ecosystem in which many actors participate. In the EU, the energy sector is changing significantly as part of the energy transition. One important change is decentralization of energy, for example the bilateral trade of energy between households generating energy by solar panels and consuming energy. A key question is how to design the decentralized governance structure of such an ecosystem. We propose the DECENT (decentralized) ontology, which results from an extensive literature study in the field of decentralized governance in the energy sector, which allows to describe governance in ecosystems in a structured way. Its intended user-base are business developers and ecosystem designers. The DECENT ontology provides the terminology to represent and analyze important governance constructs for these stakeholders. We demonstrate the practical use of the ontology by means of a case study about peer-to-peer energy trading."

"Having a clear understanding of the concepts on the finance domain is fundamental to figure out the evolution of the economy before innovations in the Finance Industry. This research aims at addressing these issues by investigating the conceptual foundations of money, grounded in the Unified Foundational Ontology and based on the literature review of the most relevant economic theories."

"Financial ecosystems and their related transactions are increasingly relying on big tech payment service providers, such as ApplePay and WeChat. By offering these services, transacting in unregulated cryptocurrencies becomes easier. Consequently, big tech companies take a powerful position in the ecosystem, such dominance may be avoided by a decentralized ecosystem, in which decision making power is distributed over several actors. Emergence of several highly unregulated cryptocurrencies and increased reliance on big tech, motivates central banks to investigate alternatives, called Central Bank Digital Currency (CBDC) that can be subject to governance and rules. CBDC is specifically aimed to decrease dependency on largely uncontrolled big tech payment service providers and to limit the growth of unregulated cryptocurrencies. In this paper, we explore the key question of how to design a governance structure, we do that by applying the DECENT ontology and conceptual models to the real world use-case of CBDC."

"The digitalization of the economy and technological innovations are pushing central banks to investigate new forms of digital money. The concept and design of digital currencies have been investigated by central banks for some time. Although much progress has been made towards a convergence on definitions , the term Central Bank Digital Currency (CBDC) is still used to refer to a number of concepts. In this paper we address this issue by extending and refining our previous work, the Reference Ontology of Money and Virtual Currencies, to provide a semantic foundation for the concept of CBDC."

"This paper proposes a model and, based thereupon, an ontology for categorising the different manifestations of cryptocurrencies available today. It takes into consideration the relevant publications by the ECB and the US FinCEN and tries to find a common ground. We address various aspects related to the subject like compatible technologies, applications and their interconnections. The findings are consequently tested and validated using appropriate methodology."

A working group formed through the Digital Currency Global Initiative has set out to establish a common classification framework for all kinds of digital currency. Members of the architecture-focused working group introduced a new tool designed to overcome terminology problems during January 2022's DC3 conference hosted by the International Telecommunication Union (ITU). The working group is building an ontology - an explanatory framework of terms and characteristics - that can describe exactly what constitutes different kinds of digital currency. The goal is to marry basic taxonomy concepts with deeper ontology concepts, or so-called "notions."

"Engineers introducing the designation identity to describe objectives or operational aspects of technology, must establish a functional definition of the term identity before committing the concept to source code. As such the objective of this taxonomy project is to provide a peer-reviewed library to serve as a reference for engineers in general, and software engineers aiming to facilitate legally relevant (commercial) activities in particular."

"The UTXO design of Bitcoin exhibits partially characteristics of a token-based system and partially characteristics of an account-based system. A discussion on the difficulty to implement the economic notion of tokens in the digital domain, along with an exposition of the design of UTXO, is given in order to discuss why UTXO-based systems should be viewed as account-based according to the classical economic notion. Besides, a detailed comparison between UTXO-based systems and account-based systems is presented. Using the data structure of the system state representation as the defining feature to distinguish digital token-based and account-based systems is therefore suggested. This extended definition of token-based systems covers both physical and digital tokens while neatly distinguishing token-based and account-based systems."