Flash News: OKX Ventures Announces Investment in zkPass, a Private Data Verification Protocol
SINGAPORE, Aug. 04, 2023 (GLOBE NEWSWIRE) — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, has issued updates for August 4, 2023.
OKX Ventures Announces Investment in zkPass, a Private Data Verification Protocol
OKX Ventures is proud to announce its recent investment in zkPass, a privacy-preserving protocol for data verification. The protocol uses a combination of three types of technology: Multi-Party Computation (MPC), Zero-Knowledge Proofs (ZKP), and three-party Transport Layer Security (3P-TLS).
zkPass’s key offering is TransGate, which enables users to selectively and privately verify their data on any HTTPS website in the Web3 world. TransGate can be applied to various data types, such as legal identity, financial records, healthcare information, social interactions, work experience, education and skill certifications, etc. With TransGate, users can verify and disclose their personal data on any website without revealing or uploading the documents themselves.
Based on various types of data verification, zkPass can be readily incorporated into multiple application scenarios, such as composable decentralized identity passes, DeFi lending protocols relying on off-chain credit, privacy-ensured healthcare data marketplaces and dating apps featuring verifiable Zero-Knowledge Soulbound Tokens (zkSBTs).
OKX Ventures Founder Dora Yue said: “We’re excited to support zkPass and work with the protocol to provide a solution that addresses a common painpoint in Web2 and Web3: private data verification. zkPass’s unique infrastructure enhances and aligns with the decentralized future of Web3; with its diverse applications spanning finance, healthcare and social media, the protocol has tremendous growth potential. More importantly, zkPass offers a solution to the pervasive issue of centralized data ownership, and our investment in the protocol marks a step towards a more secure and private digital world.”
OKX Ventures also recently announced its strategic contribution to Shutter Network, an open-source project that aims to prevent malicious miner-extractable value (MEV) and front running on Ethereum. OKX Ventures will continue to support projects that seek to overcome obstacles to the mainstream adoption of blockchain technology.
For further information, please contact:
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About OKX Ventures
OKX Ventures is an investment institution under the worldwide top trading platform OKX. It focuses on exploring the best blockchain projects on a global scale, supporting the most cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
OKX Ventures is also committed to helping entrepreneurs who contribute to the development of the blockchain industry build great companies and bring global resources and historical experience to blockchain projects. The initial capital of OKX Ventures is USD 100 million.
Disclaimer
This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, or hold digital assets. Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances.
