{"id":106968,"date":"2019-06-02T04:12:59","date_gmt":"2019-06-02T11:12:59","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=106968"},"modified":"2019-11-07T02:27:21","modified_gmt":"2019-11-07T02:27:21","slug":"crypto-twitter-reacts-to-block-ones-plans-to-launch-eos-powered-social-network-voice","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/crypto-twitter-reacts-to-block-ones-plans-to-launch-eos-powered-social-network-voice\/","title":{"rendered":"Crypto Twitter reacts to Block.one’s plans to launch EOS-powered social network, Voice"},"content":{"rendered":"

The management at Block.one<\/a>, the company behind EOS<\/a>, announced on June 1st that it will launch a blockchain-powered social media platform.<\/p>\n

Brendan Blumer<\/a>, the 32-year-old CEO at Block.one, revealed<\/a> during a presentation in Washington, D.C., that the blockchain-enabled open-source software publisher\u2019s new social media network, called Voice<\/a>, will be deployed on EOS, one of the largest platforms for building decentralized applications (dApps).<\/p>\n

\"EOS
Source: Voice.com<\/figcaption><\/figure>\n

Blumer: Existing Social Media Platforms \u201cDesigned to Use the User\u201d<\/h2>\n

According to Blumer, the existing social media platforms such as Facebook are \u201cdesigned to use their users.\u201d He explained that users\u2019 data, attention, and the content they produce are all quite valuable. However, the crypto entrepreneur pointed out that current social media networks are designed to primarily benefit the platform and their owners and management, and not the user who is actually making meaningful contributions to the platform.<\/p>\n

Blumer further noted:<\/p>\n

\u201cIt\u2019s the platform, not the user, that reaps the reward. By design, they run by auctioning our information to advertisers, pocketing the profit, and flooding our feeds with hidden agendas dictated by the highest bidder. Voice changes that.\u201d<\/p><\/blockquote>\n

Voice: \u201cA Truly Self-Sustaining Economy of Ideas\u201d<\/h2>\n

In order to give users more control over their data and also allow them to benefit from the content they produce, the developers at Block.one will launch the new Voice social media network on EOS\u2019 public delegated proof-of-stake (DPoS)-based blockchain.<\/p>\n

As detailed on Block.one\u2019s official website:<\/p>\n

\u201cVoice will cultivate creation, sharing, discovery and promotion of content on social media platforms by real users, not bots and fake accounts. Through a truly self-sustaining economy of ideas, users will directly benefit from their ideas and engagement on the platform.\u201d<\/p><\/blockquote>\n

\u201cNo Hidden Algorithms, No Invisible Interests\u201d<\/h2>\n

The Voice social media network will be deployed on EOS\u2019 EOSIO protocol<\/a>-enabled public blockchain and \u201call interactions on Voice will be public,\u201d Block.one\u2019s blog post noted. This will allow for greater transparency, which will be \u201ca core part\u201d of the user experience (UI) on Voice, the software development firm stated.<\/p>\n

Clarifying how all participants on Voice will be treated fairly and given the same opportunities, Block.one\u2019s blog mentioned that:<\/p>\n

\u201cEveryone \u2013the user, to contributor, the platform \u2013plays by the same rules. No hidden algorithms, no invisible interests.\u201d<\/p><\/blockquote>\n

\u201cUniquely Positioned\u201d to Lead Social Media Revolution?<\/h2>\n

While the management at Block.one claims they\u2019re \u201cuniquely positioned to lead the social media revolution\u201d as EOS-based dApps reportedly account for 70 percent of all current \u201cblockchain activity\u201d, several prominent members of the crypto community believe that existing social media platforms like Twitter are \u201calready perfect.\u201d<\/p>\n

This, according to Tom Shaughnessy, the co-founder at independent digital assets-focused research firm Delphi Digital, who argued that Block.one was again trying to \u201ctack on\u201d another use case for EOS, even though it\u2019s not needed. Shaughnessy, a finance graduate from Rutgers Business School, also mentioned via Twitter that Block.one\u2019s Chief Technical Officer (CTO) Dan Larimer<\/a> had already founded a blockchain-based social media site, called Steemit.<\/p>\n

\u201cAll EOS Data At the Whim\u201d of 15 of 21 Block Producers?<\/h2>\n

Shaughnessy went on to claim that all data being used and generated on the EOS network is at \u201cthe whim of 15 of 21 block producers.\u201d<\/p>\n

In response to Shaughnessy\u2019s claims, \u201cEOS New York\u201d, a prominent EOS block producer, remarked:<\/p>\n

\n

Is this a joke? If this is the announcement, this is the kind of thing the entire blockchain industry is working toward; creating an equitable, decentralized economic system where incentives are aligned across all participant types. This should be championed.<\/p>\n

— EOS New York (@eosnewyork) May 31, 2019<\/a><\/p><\/blockquote>\n