Major cryptocurrency exchange Binance has invested an undisclosed sum in blockchain data monetization startup Numbers.

According to a post published on Binance's official blog on January. 21, Numbers aims to create an open, transparent and traceable data sharing, verification and management organization. The firm's open source application reportedly allows individuals to own and monetize their personal data.

Since last year, Numbers has reportedly worked with nonprofit Shoah Foundation, the Stanford University and IBM to develop data traceability and verification systems to preload on the Exodus, the blockchain smartphone of tech behemothic HTC. Binance's strategy officeholder Gin Chao said:

"Numbers app is integrated with Binance Chain through Zion, a hardware-based key direction arrangement and offers the developer community easy access to utilise the Binance Chain and for hardware wallet protection, digital signature and and then on."

The get-go of a broader collaboration

Numbers' co-CEO Bofu Chen explained that he wants to assistance create traceable and trustworthy information through an open information framework. He believes that trading of such data brings more trust and higher operational efficiency to guild. At the same fourth dimension, the system also rewards individuals for their information. He explained that the startup's relationship with Binance is non limited to the monetary investment:

"The investment from Binance volition help us explore more than utilise scenarios and accelerate technological and business evolution. We are besides working to open the libraries we built for the developer community in 2022 so that more than developers can leverage our piece of work and use the Binance Concatenation with more ease."

This is the latest in a long series of investments made by Binance. In late Dec, the substitution too invested in and became a strategic advisor at crypto derivatives commutation FTX.

In September last yr, Binance participated in a $200 million funding round of Beijing-based Mars Finance, a local crypto and blockchain publication. Before that the same month, the exchange's venture arm led a $five.7 million funding round to launch a new decentralized blockchain protocol, the FIO Protocol.