Binance Academy, the non-profit cryptocurrency and blockchain education portal of Binance, has recently established a blockchain technology industry research institute in Shanghai, China.
On March 31, Binance announced that they are establishing a blockchain hub at Lingang Research Institute (Lingang Blockchain Technology and Industry Research Institute). The signing of the agreement and the official ceremony was held at Shanghai, China, on March 27.
In other news, @BinanceAcademy reached a milestone agreement with the local government and will setup an office in Shanghai. The official signing ceremony just happened today. ????????????https://t.co/bgulAFnaA5 pic.twitter.com/Kjctjfu20Z
— CZ Binance ???????????? (@cz_binance) March 27, 2020
Helen Hai: ‘A leading think tank and research hub’
The initiative is intended to promote research on China’s blockchain core technology, industry application development, and industrial ecology. It also aims to focus on blockchain talent training and knowledge promotion, as reported by a local news platform BlockBeats.
Helen Hai, Head of Blockchain Technology Business at Binance China, outlined that with Binance Academy, it will create “a leading think tank and research hub” that will boost the industry growth with its large-scale developments in blockchain. She added (translated):
“Leveraging Binance’s blockchain ecosystem and industry resources, we are committed to building the blockchain industry, driving blockchain research, and cultivating top blockchain talent.”
The Lingang Research Institute, in addition to providing the resources to support the research, will also make professional development courses, technical and enterprise skills training, and consulting services available.
Integrating blockchain with other technologies
The research and development at the Binance-backed institute will enable the deep integration of blockchain technology and emerging information technologies such as artificial intelligence (AI), big data, and the Internet of Things (IoT).
Don Tapscott, the Executive Chairman of the Blockchain Research Institute, will act as the Honorary Dean of Lingang Blockchain Academy. He discussed that research, education, and skill development are “critical to move forward,” and that the partnership can help in bringing blockchain transformation in China. He adds:
“Blockchain represents the second era of the Internet – the Internet of Value – and can help us build more innovative and productive organizations.”
Binance enters South Korean market
Meanwhile, South Korea is next to get on Binance’s crypto adoption bandwagon. Binance linked crypto to the South Korean won (KRW), with the announcement of Binance KR, a crypto-to-crypto exchange for Korean users, and the first global use case of Binance Cloud solutions.
Binance is entering the South Korean market, through the imminent launch of Binance KR, the first global use case of our Binance Cloud solution unveiled last month.https://t.co/ifHkFHxjls
— Binance (@binance) March 31, 2020
Binance CEO Changpeng Zhao “CZ” commented that the move is done “slowly but surely.”
Slowly but surely. https://t.co/LyljmkjADL
— CZ Binance ???????????? (@cz_binance) March 31, 2020
Binance KR will open for registrations and deposits on April 2 and will support Binance KRW (BKRW), a BEP-2 stablecoin backed by the South Korean Won (KRW). The platform will also allow its users to trade BTC, ETH, and BNB initially.
In line with this, Binance acquired BxB Inc. last January 20, 2020, the fintech company behind BKRW.