Crypto Exchange Binance Invests In Blockchain Protocol Numbers

Binance, one of the world’s largest crypto exchanges, has invested an undisclosed amount in Numbers, a blockchain protocol focused on data traceability and monetization.

Based in Taiwan, Numbers aims to create an open, transparent and traceable “integrity assurance data framework” that can trace, verify and analyze data near data origin. The goal is to help the media, governments, and enterprises create a data system in which integrity is assured.

Since 2019, Numbers has been working with Shoah Foundation, Stanford University, and IBM for the Starling project to establish the data traceability and verification systems to pre-load the applications on Exodus, the blockchain-powered smartphone series launched by the global smartphone manufacturer HTC.

Numbers co-CEO Bofu Chen said that by trading traceable and trustworthy data, not only can individuals get a reasonable reward, but the society also benefits because they rebuild the trust and enhance the operational efficiency in the process.

“The investment from Binance will help us explore more use scenarios and accelerate technological and business development,” Chen said. “We are also working to open the libraries we built for the developer community in 2020 so that more developers can leverage our work and use the Binance Chain with more ease.”

Binance Strategy Officer Gin Chao said that they invested in Numbers because the team has strong technical backgrounds and expertise in building blockchain applications with practical use cases.

“We are happy to have Numbers as part of the Binance ecosystem,” said Chao. “Numbers app is integrated with Binance Chain through Zion, a hardware-based key management system and offers the developer community easy access to use the Binance Chain and for hardware wallet protection, digital signature and so on.”

Source: Read Full Article