Binance invests in Numbers, a blockchain protocol for data tracking
Binance invests in Numbers, a blockchain protocol for data tracking
Blockchain

Binance invests in Numbers, a blockchain protocol for data tracking

By Amelia Tomasicchio - 22 Jan 2020

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Binance has announced that it has decided to invest in the Taiwanese Numbers, a blockchain protocol for data tracking and monetization, with a view to having an increasingly transparent crypto ecosystem.

Numbers, in fact, has developed an open-source blockchain application to track data but also to monetize it. Since 2019, it has been working with the Shoah Foundation, Stanford University and IBM on a project called Starling that is used by HTC’s blockchain smartphone, Exodus.

The goal of Numbers, and therefore that of Binance, is to help institutions, companies and media to have a data system whose integrity and origin is certain.

For example, some time ago, Numbers’ CEO explained that his dApp (decentralized application) could help users lower their insurance costs if data on their habits are positive. 

With regard to this investment, the Binance Strategy Officer, Gin Chao, explained:

“The Numbers 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. 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.”

Numbers CEO Bofu Chen said:

“We want to help everyone to create traceable and trustworthy data through an open data framework. By trading such data, not only can individuals get a reasonable reward, but the society also benefits because we 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. 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.”

 

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for Cointelegraph and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist. She is also a marketing teacher at Digital Coach in Milan and Business Developer at MEXC for the Italian market.

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