Oasis labs join the Binance fronted CryptoSafe alliance to fight Bad actors in the industry

• Binance, one of the biggest platforms in the crypto industry has just recently signed up with the privacy centred Oasis in order to fight malicious actors in the crypto sector.

• The blockchain-powered cloud computing developer was announced as a key member and primary infrastructure provider for the CryptoSafe alliance led by Binance earlier this week on the 27th of August.

Binance, one of the biggest platforms in the crypto industry has just recently signed up with the privacy centred Oasis in order to fight malicious actors in the crypto sector.

The blockchain-powered cloud computing developer was announced as a key member and primary infrastructure provider for the CryptoSafe alliance led by Binance earlier this week on the 27th of August.

One of the key things that the company is known for is its confidential smart contracts. This will be a key part in building the decentralised CryptoSafe platform. For those that don’t know, this is designed to share threat intelligence data amongst crypto platforms. On top of this, by using the Oasis network blockchain, CryptoSafe will be able to be powered.

The companies have both made it clear the need for the platform to enable collaborative fraud detection as it ensures the data of participating platforms is kept private.

The chief executive officer of the Binance platform, CZ has encouraged many representatives and companies all over the industry to join this alliance as he said:

“A collective effort and forging closer ties amongst members will better ensure the security of the global cryptocurrency community and the broader ecosystem's integrity to achieve this common mission.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!