Web3 businesses battled for investment from Binance Labs in the highly acclaimed worldwide digital series Build The Block, and today zkPass was named the winner by Binance. The founding team of zkPass received the most votes during the seven-episode competition, which comprised 12 project finalists and was therefore given the top prize by the metaverse-based event.
Based on Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technologies, zkPass is a composable, privacy-preserving decentralized identity verification solution for Web3. Utilizing cutting-edge cryptographic technology, zkPass seeks to provide a safe and privacy-preserving identity verification solution for Web3 apps.
“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.” states 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,” said Joshua Peng, co-founder of zkPass. “This investment helps us immensely on our journey to be the infrastructure of this decentralized world.”
Four additional top Build The Block contenders, in addition to ZkPass, received investment offers from Binance Labs. The four finalists, Mind Network, Kryptoskatt, Bracket Labs, and DappOS, were selected from more than 900 applications.
The Mind Network is a complete encryption network that is built on a unique technique known as Adaptive Fully Homomorphic Encryption (FHE). This network’s primary purpose is to protect all user data, smart contracts, and AI running on Web3. In the beginning, it serves as a decentralized datalake that protects users’ privacy and offers “Pay as You Go” data storage and processing.
Kryptoskatt: Kryptoskatt’s full suite of products, which includes accounting, portfolio management, and tax reporting, simplifies Web3 finance for customers internationally. Kryptoskatt is the one-stop shop for all Web3 financial requirements, supporting more than 2000 DeFi protocols, 100 exchanges and wallets, and 50+ blockchains.
Bracket Labs develops on-chain, leveraged solutions that have straightforward user interfaces and pricing that can be modified, all of which significantly improve usability. Bracket Labs has created a platform known as BracketX.fi, which gives traders the ability to rapidly profit from market volatility, regardless of whether the market is heading up or down.
DappOS is a company whose primary mission is to design an operating protocol that would streamline the development process for Web3 applications and make them more accessible to users. By creating solutions that improve the usability and accessibility of Web3 apps, DappOS intends to lower the entry barriers for customers and make it easier for them to use these applications.
Binance’s Yi He, CMO and head of Binance Labs; as well as 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, served as judges for Build The Block.