DUBAI, UAE, June 2, 2023 /THETECHMUSK=TTM/ — Today Binance announced zkPass as the winner of its global digital series Build The Block where Web3 startups competed for Binance Labs investment. The metaverse-based show awarded the top honors to zkPass after the founding team receiving the highest votes throughout the seven-episode competition that featured 12 project finalists.
zkPass is a composable, privacy-preserving decentralized identity verification solution for Web3 based on Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technology. zkPass aims to provide a secure and privacy-preserving identity verification solution for Web3 applications using the latest in cryptographic technology.
“At Binance Labs, we’re looking to build the foundations to sustainable ecosystems that allow scalability, specifically those enabled by Zero Knowledge proof techniques. We look forward to seeing zkPass’ growth as they continue to empower decentralized societies.”Yibo Ling, Chief Business Officer of Binance and judge of Build The Block
“We are not only thrilled to be a part of the first pitch ever done in a real time metaverse series, but especially honored to win Build The Block and have the opportunity to work closer with Binance Labs. This investment helps us immensely on our journey to be the infrastructure of this decentralized world.”Joshua Peng, co-founder of zkPass
In addition to zkPass, four other top Build The Block contestants were offered investment from Binance Labs. The finalists were Mind Network, Kryptoskatt, Bracket Labs and DappOS, who were selected from more than 900 applications to compete on the show.
- Mind Network: a full encryption network built on a patented Adaptive Fully Homomorphic Encryption (FHE) framework to secure all user data, smart contracts and AI on Web3. It is firstly applied as a decentralized privacy-preserving datalake that offers encrypted high-performance “Pay as You Go” data storage and computation.
- Kryptoskatt: Kryptoskatt simplifies Web3 finance for clients globally with a comprehensive suite of solutions that include accounting, portfolio management, and tax reporting. Supporting over 2000+ DeFi protocols, 100+ exchanges and wallets, and 50+ blockchains, Kryptoskatt is the one-stop-shop for all Web3 finance needs.
- Bracket Labs: builds leveraged structured products on-chain with simple interfaces and innovative, adaptive pricing to vastly improve usability. Bracket Labs has launched BracketX.fi, a platform that helps traders quickly take advantage of volatility in both sideways and trending market conditions.
- DappOS: a company that is focused on building an operating protocol to lower the barriers to entry for Web3 applications. DappOS is focused on creating solutions that improve the usability and accessibility of Web3 applications, with a particular focus on lowering the barriers to entry for users.
The judging panel for Build The Block included Yi He, co-founder and CMO of Binance and head of Binance Labs; Yibo Ling, chief business officer of Binance; Guy Turner, co-founder of Coin Bureau; Azeem Khan, a member of the World Economic Forum’s Crypto Sustainability Coalition and fundraising and partnership lead at Gitcoin; and Robby Yung, CEO of Animoca Brands and partner at Animoca Capital.
For updates on future incubation programs and programming, follow Binance Labs on Twitter at @BinanceLabs and labs.binance.com.