Binance-Backed AI Data Security Startup Privasea Raises Funding for Decentralized Computing Network

Privasea, an AI data security company backed by Binance Labs, raised strategic funding from investors like OKX Ventures and Nomura's Laser Digital.

Privasea uses Fully Homomorphic Encryption (FHE) technology to enable secure computation on encrypted data.

It is building a decentralized computing network called DePin to provide scalable resources for AI tasks while reducing centralized data processing risks.

The network will integrate with BNB Greenfield for distributed data storage, giving users control over their data.

Use cases include biometrics, healthcare, finance, cloud computing, and anonymous voting systems. Privasea is releasing mobile apps for identity verification via biometrics.