Binance Invests in Open-Data Framework Provider Numbers Seeking Product Boost

The exchange says it's integrated Numbers' data verification app with Binance Chain.

AccessTimeIconJan 22, 2020 at 9:23 a.m. UTC
Updated May 9, 2023 at 3:05 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Cryptocurrency exchange Binance has made an undisclosed investment in open-data framework provider Numbers.

Announced in a blog post on Wednesday, Gin Chao, strategy officer at Malta-based Binance, said Numbers' protocol will bring developers "easy access" to the exchange's own blockchain – Binance Chain – and could be used features like hardware wallet security, digital signatures and more.

  • What Happens to the Spot Ether ETF if ETH Is Deemed a Security in Hong Kong?
    00:43
    What Happens to the Spot Ether ETF if ETH Is Deemed a Security in Hong Kong?
  • Hong Kong's 'Mind Boggling' Journey to Bitcoin and Ether ETFs
    19:29
    Hong Kong's 'Mind Boggling' Journey to Bitcoin and Ether ETFs
  • Are Bitcoin ETFs Driving BTC Demand? Bored Ape NFT Prices Down 90% From Peak
    02:05
    Are Bitcoin ETFs Driving BTC Demand? Bored Ape NFT Prices Down 90% From Peak
  • Is There a 'Significant' Correction on the Horizon?
    01:09
    Is There a 'Significant' Correction on the Horizon?
  • Numbers has developed a protocol that it says makes data "open, transparent and traceable," with use cases in digital identities or supply chain traceability. The company has also built an open-source mobile app that "fingerprints" data with information such as location, time and more, meaning the data is verifiable and can, for example, be used by content creators for monetization.

    The Taiwanese firm is said to have been working with the Shoah Foundation, Stanford University and IBM on data traceability. It's also worked on verification systems for HTC's EXODUS blockchain phone.

    Numbers' product "is integrated with Binance Chain through Zion, a hardware-based key management system," Chao said. The HTC phone comes equipped with a similar feature called Zion Vault. HTC has previously said it would support Binance's blockchain with a special edition version of the cellphone.

    Numbers co-CEO Bofu Chen said the cash injection from Binance would be used to explore more use cases for its products and speed up 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,” Chen said.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.