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zkPass protocol was selected from a list of more than 900 applicants and will now receive strategic funding from Binance Labs as well as four other finalists.
A decentralized open-source protocol that focuses on identity verification solutions zkPass has been crowned the winner of a metaverse show sponsored by the leading cryptocurrency exchange Binance. According to the announcement, the Binance metaverse show was seeking to crown the next big Web3 entrepreneur amongst a huge group of applicants. A panel of Judges in the Binance Web3 reality show had an easy time choosing the finalist winner as ZKPass received the highest votes throughout the seven episodes that featured 12 projects.
Nevertheless, Binance also chose four other finalists including Mind Network, Kryptoskatt, Bracket Labs, and DappOS who will all receive a strategic investment from Binance Labs. Notably, the finalist had to rise through a huge group of applicants amounting to more than 900 during the metaverse shows.
The judging panel for Build The Block included Yi He, co-founder and CMO of Binance and head of Binance Labs; Yibo Ling, the chief business officer of Binance; Guy Turner, co-founder of Coin Bureau; Azeem Khan, a member of the World Economic Forum’s Crypto Sustainability Coalition and fundraising and partnership lead at Gitcoin; and Robby Yung, CEO of Animoca Brands and partner at Animoca Capital.
Why zkPass Won the Binance Competition
Powered by Ethereum, BNB Chain, and Polygon, the zkPass protocol is currently running pre-alpha testnet registration to help obtain crucial feedback from the community. Notably, zkPass is a composable, privacy-preserving decentralized identity verification solution for Web3 based on Multi-party Computation (MPC) and Zero-knowledge Proof (ZKP) technology.
The protocol aims to provide a secure and privacy-preserving identity verification solution for Web3 applications using the latest in cryptographic technology.
The support from Binance Labs will help zkPass scale to more users in the future much more easily than the rest.
“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.”
According to Ling, one of the judges of the Build The Block metaverse show, Binance is seeking to help Web3 developers with scalable ideas that specifically use Zero Knowledge technology.
“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,” Ling noted.