The pioneering brands in Blockchain and cryptocurrency have always marveled at the brilliance of Blockchain. A plethora of applications of cryptocurrency and blockchain have been proposed over the past years, and many come to fruition as well.
However, the biggest roadblock in the adoption and success of these applications have most often been the lack of knowledge and support beyond the global fintech community. Binance is one such brand that aims to develop an ecosystem of Blockchain and cryptocurrency around the world.
The two new wings under Binance that aims to carry the torch of Blockchain around the world are Binance Lab and Binance Academy.
Binance Labs: BUIDLing The Ecosystem of Blockchain Start-ups
The Binance Labs is a venture subsidiary of Binance that aims to incubate, fund and empower Blockchain and cryptocurrency based start-ups. The biggest problems that even the best of the ideas and teams face during the early phases of a start-up is funding and proper mentorship.
Binance is focused on solving the most critical problems facing the blockchain industry by putting an emphasis on mentorship, guidance, and education. $500k for a 10% stake is most often a good deal for both parties.
Currently, two batches of around 8-10 start-ups have been incubated by the Binance Labs. Ella Zhang has been appointed as the CEO of Binance Lab. Contentos, Nym Technologies, Decore, and SafePal are some of the top projects currently working with Binance Labs.
These are classified under the accelerator programs that help the start-ups during their early phases. Binance Labs also announced a fellowship grant of $15,000 to three open-source Fellowship projects on 12th April 2019. The start-ups which received the grant are Ironbelly, HOPR and Kitsune Wallet.
The Binance Academy is the educational wing of Binance that covers nearly all aspects of Blockchain and cryptocurrency including trading tutorials and is free of cost.
The online academy covers a wide range of topics about Blockchain and cryptocurrency. The categories included in the academy are: Blockchain, Security, Economics and comprehensive Binance tutorial as well.
The Academy provides the perfect portal for laymen to learn about Blockchain and cryptocurrencies. The topics covered would also interest all classes of cryptocurrency enthusiast from developer to an intra-day trader as well.
Found in 2017, Binance Exchange is the largest Exchange in the world w.r.t to volume, and it was one of the first exchanges to open the floodgates for all cryptocurrencies without any limitations on the number of users as well. Binance also has a charity arm under its name; the Binance Charity Foundation is a philanthropic arm of Binance that seeks to bring change in the under-developed countries of the world.
What are your views on these extended organization from Binance? Will it achieve its aim of creating a new ecosystem of Blockchain and Cryptocurrencies?
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Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com