Binance Accused of Copying Hackathon Winner with Bicasso Launch

Allegations Against Binance

Crypto exchange giant Binance faces allegations of copying a tool developed by Chatcasso, the first-prize winner of the BNB Chain hackathon. The controversy erupted following the launch of Binance's new AI-based NFT creation tool, Bicasso, which bears striking similarities to Chatcasso's innovation.

Bicasso's Introduction

On March 1, Binance CEO Changpeng Zhao introduced Bicasso, an AI-powered platform designed to transform creative ideas into NFTs. This announcement quickly garnered attention, particularly from community members who noted the resemblance to Chatcasso's project, which was recognized at the BNB Chain hackathon in December 2022.

Chatcasso's Achievement

Chatcasso emerged as the winner of the hackathon held in Seoul from December 17-19, 2022. The tool developed by Chatcasso uses artificial intelligence to facilitate the creation of nonfungible tokens, a concept that seemingly aligns with Binance's Bicasso.

Community Reactions

The crypto community, particularly a member identified as "ggoma," has expressed concern over the perceived replication. The accusations suggest Binance may have used its platform to promote an idea originally developed by Chatcasso, raising questions about intellectual property and ethics within the crypto industry.

Implications for Binance

These allegations could have significant repercussions for Binance, potentially impacting its reputation and relations within the crypto ecosystem. As the situation develops, it highlights the importance of innovation integrity and the protection of original ideas in the rapidly evolving blockchain space.