In its recently released BNB Greenfield white paper, cryptocurrency exchange Binance stated that it is interested in building a blockchain-based Web3 infrastructure. BNB Chain is a blockchain platform established by Binance.

According to the white paper, it is a decentralized storage infrastructure that is integrated into the BNB Chain. This infrastructure gives users and decentralized applications (DApps) complete control of the data stored within. Website hosting, personal cloud and data file maintenance, publishing, and other applications are examples of possible use cases.

The BNB Chain core team is responsible for building the testnet for the planned Web3 infrastructure. This testnet is supported by community developer teams from Amazon Web Services, NodeReal, and Blockdaemon. BNB Greenfield is a distributed storage system that is currently under development. It will integrate smart contract functionality for Web3 applications and is powered by BNB Token (BNB) (formerly known as Binance Coin).

Victor Genin, Senior Solutions Architect at BNB Chain, revealed the intention to create a new theme for data ownership and utility while discussing the motivation behind the upcoming initiative. He added that “BNB Greenfield will create utility and financialization opportunities for the data that is stored, as well as bring programmability to data ownership.”

Users who have BNB tokens and a BNB chain address can store data in BNB Greenfield, which works similarly to Web2 cloud storage systems such as DropBox. The creation of websites and the archiving of historical data are two more possibilities.

In addition to this, the system will make use of something called non-fungible tokens, or NFTs, in combination with smart contracts to determine who owns the data and who has permission to view it. On the backend, BNB Chain will be used to store the storage metadata; however, the actual data storage will be handled by third party storage providers.

Recent events have resulted in a cooperation between Mastercard and Binance for the introduction of a prepaid cryptocurrency card in Latin American countries. Binance has pursued this desire for continued product growth.

On January 30, the cryptocurrency exchange announced that it will launch the Binance Card in Brazil. The card will be issued by Dock, a payment institution authorized by the central bank.

The card allows for real-time conversion from fiat to any of 14 different cryptocurrencies, and comes with a number of attractive bonuses, such as the opportunity to earn up to 8% cash back in crypto on qualifying transactions and waiver of fees for certain ATMs. withdrawals.