Binance Labs, the self-proclaimed “incubator” for Startups in the Blockchain industry, has introduced the day before yesterday on Reddit. In a three-hour “Ask Me Anything” was the Team for the first time, the questions from the Community.
First of all: All of the questions could not answer for what is currently the largest crypto stock exchange Binance related Startup. The AMA was primarily used to answer the question of what the company actually does. Two themes stood out in particular.
Binance Ecosystem Fund
A few days ago a announcement caused a stir: Binance wants to collect a billion dollars for an Investment Fund. With this Blockchain and crypto Startups should be supported. The Reddit Users were curious about what it has with this Fund. Binance-Labs-Boss Ella Zhang:
“The Binance Eco-System Fund is an Initiative to collaborate with partners, where the crypto and Blockchain Ecosystem. Binance has committed to the establishment of sustainable structures for this Ecosystem. We can, and we don’t have to cope alone. We have 20 Partner Fund, which will help us.“
On the question of whether Non-Profit projects will benefit from the Fund, said Executive Director Christy Choi:
“Of course. Binance Labs is not profit but result-oriented. Therefore, we want to support initiatives, researchers, developers, and entrepreneurs with good intentions.“
Choi also named some examples of such projects would Binance Labs like to sponsor. These include the Initiative for Digital currency of the or chain code Labs dedicated to the research and development of distributed systems.
Decentralised stock exchange in focus
A further focus of investment Binance Labs in terms of decentralized stock exchange. A Redditor asked whether a fully decentralized exchange is feasible. Board member Benjamin Rameau to be optimistic:
“We expect that there will be a day of excellent decentralized exchanges. We plan to support several projects in this area. The exchanges have to be fast, scalable and issues such as front running immune. Most local stock markets continue to weaken, currently in at least one of these areas. Some of the Hybrid models try to combine the Best of both worlds.“