Binance Labs’ debut! All-Star Team Announces Three Stirring News
Binance Labs, the ‘incubator’ team, owned by Binance, the world’s largest digital assets exchange, today performed its global ‘first appearance.’
Besides the introducing of five executives, they also announced three big news that will shock the entire industry:
- the launch of the cryptocurrency autonomous organization CGI;
- the establishment of a one-billion-dollar ecosystem fund(using BNB);
- the first incubation project ‘Dache Chain’ — — a blockchain taxi-hailing platform.
Combined with other measures announced today, demonstrated that Binance is not profit orient only, but shows their ambition to promote the ecological construction of the entire blockchain industry globally.
On May 31 at 15:00 p.m.(UTC+8), the team of Binance Labs held an online communication meeting for the first time. CEO Ella Zhang and team members Chloe Zhang, Christy Choi, Benjamin Rameau and Teck Chia attended the conference, and Yi He, the co-founder of Binance, as the hostess, with more than 600 institutional investors participated in this conference.
This conference is very informative, BABI Finance summarized the following six key points for our readers:
- Binance launch Cryptocurrency Governance Initiatives
In promoting long-term development of the Crypto industry, Binance would like to introduce CGI ( Cryptocurrency Governance Initiatives). This is first announced in the today’s Binance Labs web conference with a participation of over 600 institutions. The head of Binance Labs, Ella Zhang, has pointed out that as the industry is still at a very early stage, all industry practitioners, should jointly resist the pyramid selling project or ‘scam coin’ and strengthen the industry’s self-regulation.
2. Binance will set up a one-billion-dollar Community Influence Fund, and all investment will use BNB
Ella Zhang announced that Binance will set up a one-billion-dollar Community Influence Fund and another Binance Ecosystem Fund with 20 future partners. Binance will provide financial support as an LP, as well as share incubation projects from Binance Labs.
Members of the Binance Ecosystem Fund will be given priority in recommending projects to Binance Labs. All investments will be made in Binance Coin, BNB.
Binance will release the application portal and specific rules shortly. To join the Binance Ecosystem Fund, applicants are required to provide qualifications, fund size ( minimum accumulated AUM 100 million USD), fund member information, investment cases, etc.
3. The first project incubated by Binance Labs is going to be Dache Chain founded by Weixing Chen, and Jun Yang
The head of Binance Labs, Ella Zhang, states that the first project incubated by Binance Labs is going to be Dache Chain founded by Weixing Chen, and Jun Yang. This project will utilize blockchain technology to redesign the relationship between the interests and power of entrepreneur, labors, consumers, investors, and organizers. Dache Chain will establish a community ecosystem with value anchoring, and it is expected to achieve a pure shared ecosystem and solve the problem of unfair distribution of productivity and wealth.
4. What is Binance Labs?
The head of Binance Labs, Ella Zhang, states that Binance Labs is Institute + Incubator + Ecological Fund
Institute: Driven by research on blockchain technology and cryptocurrency economy.
Incubator: Focus on incubation and investment, empower top blockchain and cryptocurrency talent, business, and community.
Ecological Fund: Social influence fund, not oriented towards return on investment, and not only serving Binance, but also serving the entire ecosystem.
5. Binance Labs has now invested in four projects
Ella Zhang, stated during the web conference that Binance Labs has now invested in four projects:
The crypto-currency MobileCoin, dedicated to developing a fast, private and easy-to-use cryptocurrency;
The high-performance public blockchain Oasis Labs, a smart contract platform integrating security, high scalability, and privacy protection;
The formal verification platform Certik, committed to reconstructing community trust in smart contracts and blockchains through world-leading verification technology;
The crowdfunding platform Republic, registered in Exchange Commission (SEC) and FINRA for non-retail investors to provide token sales and equity sales.
6. Binance Labs Investment Focus
Binance Labs pay more attention to investment in five areas:
- Public Blockchain
- Decentralized Exchange ( DEX )
- Custody/Payments/Wallet
- Stable Digital Currency
- Compliant ATS (alternative trading system)/Security Token Platforms
All-Star Team introduction:
Ella Zhang , Head of Binance Labs :
She is a polytechnic woman, career experience: Telecom Engineer -> Internet Practitioner -> Classical VC -> Blockchain Investment. Her experience can be describe in one word: technological innovation. This is what she loves.
Teck Chia, Partner of Binance Labs :
Graduated from the computer science department of Cornell University and served as a leader in Facebook mobile platform and App advertising business. As a well-known angel investor in Silicon Valley, he has invested in Uber, Postmates, Masterclass, Standard Cognition and other companies. As an entrepreneur, he got to Bitcoin in 2012 and established the blockchain company HashTrust. He is a a sincere believer in the blockchain and a spiritual leader of Labs team.
Christy Choi, Director of Binance Labs :
Christy is one of the founders of the Crypto Power Girls organization. She started her own business at the age of 20. She has worked for Oliver Wyman Consulting, one of the global leading consulting firms, and provided strategic support to Asia’s top financial services companies. She is a deep blockchain technology believer and practitioner and is currently one of the most influential people in the Korean blockchain community. She graduated from Korea’s top university — Yonsei University and holds a Bachelor degree in Business Administration.
Benjamin Rameau, Director of Binance Labs:
Benjamin is the founder of the Hong Kong EOS.IO Conference and has extensive experience in investment banking and hedge funds. Before joining Binance Labs, he has served as the director of the Softbank investment banking arm responsible for investment in blockchain projects in the Japanese market and also once served as Director of BNP Paribas. Benjamin graduated from the University of British Columbia in 2004, he speaks English, Japanese and French.
Chloe ZHANG, Director of Binance Labs :
Ling Zhang holds a Bachelor degree in International Political Economics from the School of International Relations at Peking University, a Bachelor degree in Business Administration from Guanghua School of Management at Peking University, and studied in Kennedy School of Government Relations at Harvard University. She was a director of user operations at an AI unicorn company that invested by Google. Besides, she has served as research assistant of Development Research Centre of State Council, Institute of Macroeconomics, National Development and Reform Commission and Assistant Secretary of Joseph Verner Reed, the deputy secretary-general of United Nations.
