Binance Announced Investment in Taiwanese Data Monetization Startup Numbers

Major cryptocurrency exchange Binance invests in Numbers, Taiwanese blockchain startup centered around data traceability and monetization.

In a blog post published on January 21, Binance detailed that Numbers is aimed at creating open, transparent and traceable data system. The open-source application developed by the Numbers team allows users to own and monetize their personal data.

Since last year Numbers collaborated with non-profit Shoah Foundation, the Stanford University and IBM to create data traceability and verification systems to preload on the blockchain smartphone by HTC, Exodus. Binance’s strategy officer Gin Chao said:

“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.”

The foundation for stronger partnership

Bofu Chen, Numbers co-CEO, 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.”

He also detailed further startup’s partnership with Binance, stating that it is not confined solely to the monetary investment:

“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.”

Binance’s investment in Numbers is the most recent one. In late December, the company also invested in a crypto derivatives exchange FTX and became a strategic advisor for the firm.

In September 2019, Binance took part in a $200 million funding round of Beijing-based Mars Finance, a local crypto and blockchain publication. Earlier in September the company raised $5.7 million for a new decentralized blockchain protocol, the FIO Protocol.