Binance-backed BNB chain is set to launch a new blockchain-based Web3 infrastructure product, BNB Greenfield, according to a press release shared with CryptoSlate.

BNB Greenfield is a decentralized storage system with smart contract integrations for Web3 applications. The new platform would allow users to have full control over their data.

The storage system testnet is currently being developed and built by BNB Chain together with community developer teams Amazon Web Services (AWS), realNode, Y Blockdaemon.

According to the press release, the storage system will use BNB as its native token and will become the third blockchain in the BNB ecosystem, which already comprises the BNB Beacon Chain and BNB Smart Chain.

“Storage providers will charge fees in USD, giving users a long-term and stable understanding of the cost of using BNB Greenfield, although payments will be made in BNB.”

The developers added that the platform would allow users to store their data, deploy their websites, programmatically manipulate data, and store historical data for the BNB ecosystem.

BNB Greenfield uses NFTs and smart contracts to manage data ownership

Meanwhile, the system will use non-fungible tokens (NFTs) and smart contracts to control ownership and grant permission to read data available on your system. He added that the BNB Greenfield blockchain would store the metadata while third-party providers store the actual data.

According to the press release, the storage system has been designed to cater to Web 2 developers and large user bases.

BNB Chain Senior Solutions Architect Victor Genin said:

“BNB Chain is leading the way in creating a new theme for data ownership and utility with BNB Greenfield. BNB Greenfield will create utility and financialization opportunities for the data that is stored, as well as bring programmability to data ownership.”