Binance has announced that zkPass, a composable, privacy-preserving decentralized identity verification solution for Web3, is the winner of its global digital series “Build The Block.”

The platform has been crowned the winner of Binance’s Web3 reality show after its founding team received the highest votes throughout the seven-episode competition that featured 12 project finalists.

As noted, zkPass is a privacy-centric solution based on Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technology and aims to provide Web3 users with a secure and privacy-preserving platform for identity verification.

Binance Chief Business Officer, and Build The Block Judge Yibo Ling commented:

“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.”

zkPass co-founder Joshua Peng said:

“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. This investment helps us immensely on our journey to be the infrastructure of this decentralized world.”

As well as zkPass, Binance awarded four other top “Build The Block ” contestants, selected from over 900 applications that made the show.

The investment from Binance Labs went to Mind Network, a full encryption network built on a patented Adaptive Fully Homomorphic Encryption (FHE) framework; Kryptoskatt, a Web3 finance solution offering solutions such as accounting, portfolio management, and tax reporting.

Also receiving investment were Bracket Labs, a platform that builds leveraged structured products on-chain and has launched a product that helps traders exploit market volatility whether in sideways or trending market conditions. The platform is dubbed BracketX.fi.

The fourth finalist was DappOS, a Web3-focused company that eyes solutions designed to improve overall accessibility and usability of Web3 apps.

The post Binance crowns zkPass winner of Web3 reality show ‘Build The Block appeared first on Invezz.

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