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In the esteemed global digital series Build The Block, Web3 enterprises competed for investment from Binance Labs, and today zkPass has been declared the winner by Binance. The zkPass founding team garnered the highest number of votes throughout the seven-episode contest, which featured 12 project finalists, thus earning the top award from the metaverse-oriented event.
zkPass is a composable, privacy-focused decentralized identity verification solution for Web3, built on Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technologies. By leveraging advanced cryptographic methods, zkPass aims to deliver a secure and privacy-centric identity verification solution for Web3 applications.
“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,” stated 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,” remarked Joshua Peng, co-founder of zkPass. “This investment helps us immensely on our journey to be the infrastructure of this decentralized world.”
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In addition to zkPass, four other leading contenders from Build The Block received investment proposals from Binance Labs. The four finalists—Mind Network, Kryptoskatt, Bracket Labs, and DappOS—were chosen from over 900 submissions.
The Mind Network is a comprehensive encryption network utilizing a unique method called Adaptive Fully Homomorphic Encryption (FHE). Its primary goal is to safeguard all user data, smart contracts, and AI operating on Web3. Initially, it functions as a decentralized data lake that ensures user privacy while offering “Pay as You Go” data storage and processing options.
Kryptoskatt: The complete suite of products offered by Kryptoskatt, which encompasses accounting, portfolio management, and tax reporting, simplifies Web3 finance for users globally. Kryptoskatt serves as the all-in-one solution for various Web3 financial needs, supporting over 2000 DeFi protocols, 100 exchanges and wallets, and more than 50 blockchains.
Bracket Labs creates on-chain, leveraged solutions characterized by user-friendly interfaces and customizable pricing, significantly enhancing usability. They have developed a platform called BracketX.fi, which enables traders to quickly capitalize on market fluctuations, regardless of whether the market is rising or falling.
DappOS is focused on creating an operating protocol designed to simplify the development process for Web3 applications and enhance user accessibility. By developing solutions that improve the usability and accessibility of Web3 apps, DappOS aims to reduce entry barriers for users and facilitate easier interaction with these applications.
Judges for Build The Block included Binance’s Yi He, CMO and head of Binance Labs; Yibo Ling, chief business officer of Binance; Guy Turner, co-founder of Coin Bureau; Azeem Khan, fundraising and partnership lead at Gitcoin and member of the World Economic Forum’s Crypto Sustainability Coalition; and Robby Yung, CEO of Animoca Brands and partner at Animoca Capital.
