zkPass Wins Binance Web3 Reality Show “Build The Block”

Key Point:

• zkPass wins Binance Labs’ “Build the Block” competition with their identity verification solution for Web3 applications based on multi-party computation and zero-knowledge proof technology.
• Binance Labs gives investment offers to four other contestants: Mind Network, Kryptoskatt, Bracket Labs, and DappOS, all working on innovative solutions to improve Web3 infrastructure and decentralized finance.

Binance Labs has announced zkPass as the winner of its Web3 reality show, “Build the Block,” held in the metaverse. The competition saw several startups compete with each other to win an investment from Binance Labs.

The competition’s winner was zkPass, a decentralized identity verification solution that preserves privacy. After the show, the zkPass team expressed intense excitement at winning the competition and the opportunity to work closer with Binance Labs.

zkPass is a privacy-preserving identity protocol that enables users to selectively disclose verifiable data to third parties without revealing or uploading detailed documents. Based on Multi-Party Computation (MPC) and Zero-Knowledge Proof (ZKP) technologies, zkPass prioritizes privacy preservation, security, trustworthiness, and compatibility with various data sources in the digital landscape.

It integrates into any HTTPS websites and on-chain data sources through a TLS-based Oracle, ensuring data integrity and validity with various identity sources. With cutting-edge privacy computing techniques, zkPass provides a comprehensive solution for identity verification across Web2 and Web3, aiming to be a robust infrastructure for decentralized society.

Apart from zkPass, four other contestants received investment offers from Binance Labs. These include Mind Network, a decentralized privacy-preserving data lake, Kryptoskatt, a project simplifying Web3 finance, Bracket Labs, a decentralized finance (DeFi) platform creator, and DappOS, an operating protocol.

Binance Chief Business Officer Yibo Ling, who participated as a judge in the contest, stated that they are looking forward to seeing the growth of the competition’s winner. Ling emphasized the importance of building the foundations of sustainable ecosystems that allow scalability, specifically those enabled by zero-knowledge-proof techniques.

Binance Labs’ support for these startups is a positive sign for the industry. It shows a growing demand for innovative solutions that enhance user experience and improve security. With the proper support and investment, these startups can continue to grow and innovate, paving the way for a more decentralized and democratized future.

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