On January 21, a post published on the official blog of the leading crypto exchange, Binance, revealed its investment of a certain sum in blockchain data monetization firm known as Numbers.

The post stated that Numbers is focused on creating an open, transparent, and traceable data sharing, verification and management system. Reports have it that the Numbers’ open-source application permits people to own and monetize their data.

In 2019, Numbers started working with the Shoah Foundation, Stanford University, and IBM towards the development of data traceability and verification systems for preloading on HTC’s blockchain smartphone known as the Exodus.

According to Gin Chao of Binance, the integration of Numbers app with Binance Chain is via Zion, a hardware-based key management system that eases accessibility to utilize the Binance Chain and to protect hardware wallet, digital signature and more.

Joint CEO of Numbers, Bofu Chen, said he aims to come up with traceable and trustworthy data via an open data framework. According to him, trading of such data enhances trust and greater operational efficiency. Likewise, the system rewards people for their information.

Chen said the relationship between Numbers and Binance is also to enable the firm to look into additional use scenarios and speed up technological and business development. It is also to open the developed libraries this year for more developers to take advantage of their work and easily utilize the Binance Chain.

Binance has been investing in many things recently. A few weeks ago, it invested in and became a strategic advisor at cryptocurrency derivatives exchange FTX. Four months ago, the exchange participated in a $200 million funding round for Mars Finance based in Beijing. At the same time, Binance led a $5.7 million funding round towards the launch of the FIO Protocol.

Featured image courtesy of Binance Blog.