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BNB Greenfield is Binance’s move into decentralized Web3 storage

Community development teams from Amazon Web Services, Node-Real, and Blockdaemon support the testnet of the planned Web3 infrastructure. Binance has once again joined metaverse news.

In its new BNB Greenfield white paper, the cryptocurrency exchange Binance, which launched the blockchain platform BNB Chain, said that it was interested in building a blockchain-based Web3 infrastructure.

The white paper describes it as a decentralized storage infrastructure within BNB Chain that gives users and decentralized applications (DApps) full ownership of the data. Website hosting, personal cloud and data storage, publishing, and more are all possible uses.

About BNB Greenfield

BNB Greenfield is a decentralized storage solution with smart contract integrations for Web3 applications that will utilize BNB tokens (previously known as Binance Coin). Victor Genin, senior solution architect at BNB Chain, disclosed the initiative’s objective to build a new theme for data ownership and use, adding:
“BNB Greenfield will build utility and financialization opportunities for data that is in storage as well as bring programmability to the ownership of data.”

The system will also use NFTs and smart contracts to keep track of who owns the data and who has permission to read it. On the back end, BNB Chain will be used to store the metadata about the storage, while the data will be stored by third-party storage providers.

The fact that Binance wants to keep adding new products led to a partnership with Mastercard to launch a prepaid crypto card in Latin America. On January 30, the cryptocurrency exchange announced that Dock, a payment company regulated by the central bank, would start giving out Binance Cards in Brazil.

The card lets you convert 14 digital assets from fiat currency to cryptocurrency in real time. It also comes with perks like up to 8% cash back in cryptocurrency on eligible purchases and no fees for some ATM withdrawals.

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About Tina

BNB Greenfield is Binance's move into decentralized Web3 storageTina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

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