Binance Labs declared zkPass as the winner of the seven-episode worldwide digital series, ‘Build The Block.’ The metaverse-based event was aimed at discovering the best Web3 business ideas and providing them with funding and investment offers from Binance Labs. The zkPass team secured the most votes out of the twelve finalists, winning the top prize for their innovation in the field of decentralized identity verification for Web3. Their solution is based on Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technologies and aims to deliver a reliable, privacy-preserving identity verification platform for Web3 applications.
Congratulations to our grand winner of #BuildTheBlock!
As the winning project, you have secured investment from @BinanceLabs to help scale your business and take it to the next level.
Thank you to all the projects that participated for making it an unforgettable series. https://t.co/YCUX5rlEFk pic.twitter.com/MwNcNEDbL0
— Binance (@binance) June 2, 2023
Binance Labs Chief Business Officer, Yibo Ling, expressed his excitement at the idea of scaling sustainable ecosystems that allow for Zero Knowledge proof techniques. He also regarded zkPass as a technology poised for growth and empowerment of decentralized societies following their victory.
zkPass co-founder, Joshua Peng, also spoke on the win, expressing the team’s honor to be a winner in the first pitch executed in a real-time metaverse series and to be working closer with Binance Labs. He also noted that the investment would aid zkPass’s journey towards being a leading infrastructure provider for the decentralized world.
Aside from zkPass, four other contenders, Mind Network, Kryptoskatt, Bracket Labs, and DappOS, received investment offers as top finalists among over 900 applications.
The Mind Network is a comprehensive encryption network aimed at Web3 data protection, providing data storage and processing capabilities that ensure user privacy. Kryptoskatt simplifies Web3 finance for customers through accounting, portfolio management, and tax reporting, supporting over 2000 DeFi protocols, 100 wallets and exchanges, and 50+ blockchains. Bracket Labs leverages on-chain solutions that provide better usability for traders to profit from market unpredictability. Lastly, DappOS aims to improve the development and operability of Web3 applications for their users, lowering the entry barrier for customer usage.
The Build The Block reality show pitching sessions had Coinbold as its compiler, while judges for the show included Binance’s Yi He, CMO and head of Binance Labs, Yibo Ling, Binance’s Chief Business Officer, Guy Turner, Coin Bureau co-founder, Azeem Khan, fundraising and partnership lead at Gitcoin, and a member of the World Economic Forum’s Crypto Sustainability Coalition, and Robby Yung, CEO of Animoca Brands and partner at Animoca Capital.
