In the widely acclaimed global digital series, ‘Build The Block’, Web3 businesses fiercely competed for investment from Binance Labs. Today, zkPass emerged as the victor, receiving the prestigious title of winner from Binance. Among the 12 project finalists that participated in the seven-episode competition, zkPass garnered the highest number of votes, securing the top prize in this metaverse-based event. The founding team of zkPass demonstrated their exceptional capabilities, earning recognition for their innovative solution and compelling vision in the Web3 space.
Leveraging the power of Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technologies, zkPass introduces a composable and privacy-preserving decentralized identity verification solution designed specifically for Web3. By harnessing advanced cryptographic techniques, zkPass aims to offer a secure and privacy-centric approach to identity verification within Web3 applications. With its innovative approach, zkPass seeks to address the growing need for trust and privacy in the Web3 ecosystem, providing a robust foundation for seamless and confidential interactions in decentralized environments.
Yibo Ling, the Chief Business Officer of Binance and one of the judges of the ‘Build The Block’ competition, expressed Binance Labs’ vision of establishing the groundwork for sustainable ecosystems that prioritize scalability, particularly through the utilization of Zero Knowledge proof techniques. Ling emphasized the significance of zkPass and expressed anticipation for its future development and its role in empowering decentralized societies. With Binance’s support and recognition, zkPass is poised to make significant strides and contribute to the advancement of the Web3 landscape.
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Joshua Peng, the co-founder of zkPass, expressed immense excitement and gratitude for being a participant in the groundbreaking real-time metaverse series, as well as for the honor of winning the prestigious ‘Build The Block’ competition and the opportunity to collaborate closely with Binance Labs. Recognizing the significance of this achievement, Peng emphasized the valuable support and investment received, which will greatly benefit zkPass in its mission to establish itself as a fundamental infrastructure within the decentralized world. This victory marks a significant milestone in zkPass’ journey, further propelling its ambitions to revolutionize decentralized identity verification and make a lasting impact on the Web3 ecosystem.
In addition to zkPass, Binance Labs extended investment offers to four other outstanding contenders from the Build The Block competition. The four finalists, namely Mind Network, Kryptoskatt, Bracket Labs, and DappOS, stood out among a pool of over 900 applicants. Binance Labs recognized the potential and innovation demonstrated by these projects and decided to support their further development. This investment opportunity not only validates the exceptional quality of the selected finalists but also signifies Binance Labs’ commitment to fostering growth and advancement within the Web3 ecosystem. With Binance Labs’ backing, these projects are poised to make significant contributions to the evolving landscape of decentralized technologies.
The Mind Network is a revolutionary encryption network that leverages the innovative Adaptive Fully Homomorphic Encryption (FHE) technique. With a primary focus on safeguarding user data, smart contracts, and AI operations within the Web3 ecosystem, the Mind Network offers comprehensive protection and privacy. At its core, the network functions as a decentralized datalake, providing users with secure data storage and processing capabilities through a “Pay as You Go” model. By harnessing the power of FHE, the Mind Network ensures that sensitive information remains confidential and inaccessible to unauthorized entities. This groundbreaking solution addresses the pressing need for robust data protection in the decentralized realm, paving the way for enhanced security and privacy across Web3 applications.
Kryptoskatt is a comprehensive platform that offers a wide range of financial solutions tailored for the Web3 ecosystem. With its suite of products encompassing accounting, portfolio management, and tax reporting, Kryptoskatt aims to streamline and simplify financial operations for customers worldwide. Serving as a one-stop shop for all Web3 financial needs, the platform supports over 2000 decentralized finance (DeFi) protocols, more than 100 exchanges and wallets, and 50+ blockchains. By consolidating these diverse elements into a unified interface, Kryptoskatt empowers users to effectively manage their Web3 finances, ensuring compliance and providing a seamless experience in navigating the complexities of the decentralized financial landscape.
Bracket Labs is at the forefront of developing on-chain, leveraged solutions with a focus on enhancing usability and user experience. The company is dedicated to creating straightforward user interfaces and customizable pricing structures that make their products more accessible and intuitive for traders. A key offering from Bracket Labs is their innovative platform called BracketX.fi. This platform empowers traders by providing them with the capability to quickly capitalize on market volatility, regardless of whether the market is experiencing an upward or downward trend. With BracketX.fi, traders can leverage the advantages of leveraged trading and seize opportunities to maximize their profits in dynamic market conditions. By combining advanced technology with user-friendly design, Bracket Labs is revolutionizing the trading experience and empowering users to navigate the complex world of finance with ease and confidence.
DappOS is a pioneering company dedicated to simplifying and enhancing the development process of Web3 applications. Their core objective is to design an operating protocol that streamlines the creation and deployment of Web3 apps, making them more accessible to a wider user base. By focusing on improving usability and accessibility, DappOS aims to break down the entry barriers for customers and enable them to easily engage with and utilize Web3 applications. Through their innovative solutions, DappOS is revolutionizing the landscape of decentralized applications by providing developers with the tools and infrastructure necessary to create user-friendly and intuitive experiences. By making Web3 apps more user-centric and user-friendly, DappOS is accelerating the adoption of this emerging technology and paving the way for a more inclusive and accessible decentralized ecosystem.
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The Build The Block competition benefitted from the expertise of esteemed judges who played a vital role in evaluating the participating projects. The judging panel consisted of industry leaders including Yi He, the Chief Marketing Officer and head of Binance Labs at Binance, one of the world’s largest cryptocurrency exchanges. Additionally, Yibo Ling, the Chief Business Officer of Binance, brought his extensive business acumen to the panel. Joining them were Guy Turner, the co-founder of Coin Bureau, a prominent cryptocurrency educational platform, and Azeem Khan, the Fundraising and Partnership Lead at Gitcoin and a member of the World Economic Forum’s Crypto Sustainability Coalition. Rounding out the esteemed panel was Robby Yung, the CEO of Animoca Brands and a partner at Animoca Capital, renowned for his expertise in the blockchain gaming industry. Together, these judges provided valuable insights and expertise to determine the winners of Build The Block, contributing to the success and credibility of the competition.
Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.
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