Binance chief executive officer Changpeng Zhao during an interview
Binance chief executive officer Changpeng Zhao during an interview. Akio Kon/Bloomberg

Malta-based cryptocurrency exchange Binance has invested an undisclosed sum in open-data framework provider Numbers, the firm said in a blog post on 22 January.

According to the announcement, Binance will use the Numbers’ protocol to enable its developer community with an easy access to its own blockchain, the Binance Chain. The protocol also offers other features, such as hardware wallet security, digital signatures and more. In order to integrate its product with the Binance Chain, Numbers had to use Zion, a hardware-based key management system.

The aim of Numbers is to create an “open, transparent and traceable” verification and management system, which has use cases in digital identities or supply chain traceability. The firm has also created an open-source mobile application, which allows content creators to monetize their personal data by embedding it with information such as location, time and more.

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Numbers has also reportedly worked with the nonprofit Shoah Foundation, Stanford University and IBM on developing data traceability, and on a verification systems for the HTC’s Exodus blockchain phone. Last year, HTC said it will be releasing a special edition of its Exoduce phone, which would support the Binance blockchain.

Bofu Chen, Numbers co-CEO, said in the announcement that his wish is to create traceable and trustworthy data through an open data framework. Such a system will not only reward individuals for their information, but could also bring more trust and higher operational efficiency to society.

Chen further explained:

“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.”

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