Binance, a leading cryptocurrency exchange, declared zkPass as the winner of its first-ever digital series, ‘Build The Block.’ This competition, based on the metaverse, saw a host of Web3 startups competing for a chance to secure an investment from Binance Labs.
Showcasing the Future of Web3
The seven-part series involved 12 project finalists, with zkPass emerging as the top pick, gaining the highest number of votes. zkPass is a unique, privacy-focused, decentralized identity verification Web3 solution. It uses Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technology, offering a secure solution for Web3 applications while safeguarding privacy.
Yibo Ling, Chief Business Officer of Binance and judge for ‘Build The Block,’ praised the zkPass team and expressed anticipation towards their future growth. According to Ling, Binance Labs is committed to building sustainable ecosystems that allow scalability, specifically enabled by Zero-Knowledge proof techniques.
He stated: “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.”
A Line-up of Winners
Aside from zkPass, four other top contenders from ‘Build The Block’ – Mind Network, Kryptoskatt, Bracket Labs, and DappOS, were given investment opportunities by Binance Labs. These startups had been chosen from over 900 applications to compete on the show, showcasing an array of impressive Web3 solutions.
The judging team for ‘Build The Block’ boasted prominent names from the crypto industry, including Yi He, co-founder and CMO of Binance; Guy Turner, co-founder of Coin Bureau; Azeem Khan, a member of the World Economic Forum’s Crypto Sustainability Coalition; and Robby Yung, CEO of Animoca Brands and lastly Yibo Ling, the chief business officer at Binance.