Binance Labs, the venture wing of the biggest cryptocurrency exchange Binance, has discharged its 1st “batch” of blockchain comes from its Incubation Program, as per a press release shared with Top Market Group on Dec. 15.
Binance Labs is an initiative that seeks to assist early-stage blockchain and digital assets ventures and entrepreneurs through direct investments and technical help. The Binance Labs Incubation Program is an onsite program that was launched in August 2018.
Following a try-out tour with over five hundred candidates, Binance Labs hand-picked only eight ventures, each of that received $500,000 in seed funding and access to necessary resources and mentors. Over the course of the 10-week program, seven ventures have shipped operating products and signed on users, whereas 3 of these groups have paying customers.
Among others, the eight ventures chosen by Binance Labs embrace hardware wallet SafePal, fictionless logins for decentralized apps (DApps) Torus, net security project Nym, and market prediction startup Deaux.
In an “Ask Maine Anything” (AMA) session on Reddit in June, Ella Zhang, Head of Binance Labs, aforesaid that decentralization is “the core worth of Bitcoin and blockchain,” stating that the corporate had launched variety of initiatives during this direction.
In the starting of October, Binance Labs reportedly endowed millions of bucks in decentralized digital content system Contentos. The startup is ready to develop a decentralized system, which is able to supply transparency and validation of content, while not third-party censorship or removal of content.
Last month, Binance launched an analysis division Binance analysis to conduct “institutional-grade” analysis reports. The division will prepare institutional-grade analysis reports with the target of increasing transparency and raising the standard of knowledge inside the cryptocurrency area.
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