EOS Developer Block.one Introduces Blockchain-based Social Media Platform “Voice”
Block.one, the company behind the open source software protocol EOSIO, has officially introduced a new blockchain-based social media platform dubbed ‘Voice.’
The Eos (EOS) developer announced this via a press release published on June 1.
According to the company, Voice will completely overhaul social media and bring transparency to the social media space. Apart from rewarding them, the platform says the new application will “return control” to the user.
The platform will reportedly use EOS’ blockchain to make every bit of its operations transparent. The developer claims that the platform will not have any hidden algorithms or other invisible interests, like content pushing mechanisms that users don’t know about.
Commenting on the value Voice brings Block.one CEO Brendan Blumer said that it gives the rewards they deserve for using such a social media platform. He also compared Voice to traditional platforms and said they (these existing social media platforms) do not really care about the user.
According to Blumer, traditional platforms boast a design that is intended to “use their users.”
“Just look at the business model. Our content. Our data. Our attention. These are all incredibly valuable things. But right now, it’s the platform, not the user, that reaps the reward.”
The press release notes that Voice is designed to support real users and not bots in the process of creating, sharing, and promoting content.
The announcement also notes that Block.one recently joined the educational program Coinbase Earn. The program is an offering from major U.S.-based crypto platform Coinbase.
Coinbase Earn, available in over 100 countries, allows interested parties to learn about cryptocurrencies and the crypto trading industry, and earn small amounts of cryptocurrency in return.
EOS also recently teamed up with USDT issuer Tether to have the USD-pegged stablecoin Tether EOS available on the EOS blockchain. The stablecoin’s delegated-proof-of-stake mechanism makes it ideal for peer-to-peer (p2p) micro-transactions.
Social media giant Facebook is also preparing to launch its own cryptocurrency called Globalcoin in 2020.
However, a study by blockchain research firm Diar indicated that the crypto token is likely to face a demographic challenge. To this, Diar points to the social media platform’s aging user base.
With a number of other blockchain-based media platforms available, it remains to be seen how impactful EOS-based”Voice” will be.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.