Crypto Twitter reacts to Block.one’s plans to launch EOS-powered social network, Voice

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

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

EOS Voice

Source: Voice.com

Blumer: Existing Social Media Platforms “Designed to Use the User”

According to Blumer, the existing social media platforms such as Facebook are “designed to use their users.” He explained that users’ 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.

Blumer further noted:

“It’s 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.”

Voice: “A Truly Self-Sustaining Economy of Ideas”

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’ public delegated proof-of-stake (DPoS)-based blockchain.

As detailed on Block.one’s official website:

“Voice 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.”

“No Hidden Algorithms, No Invisible Interests”

The Voice social media network will be deployed on EOS’ EOSIO protocol-enabled public blockchain and “all interactions on Voice will be public,” Block.one’s blog post noted. This will allow for greater transparency, which will be “a core part” of the user experience (UI) on Voice, the software development firm stated.

Clarifying how all participants on Voice will be treated fairly and given the same opportunities, Block.one’s blog mentioned that:

“Everyone –the user, to contributor, the platform –plays by the same rules. No hidden algorithms, no invisible interests.”

“Uniquely Positioned” to Lead Social Media Revolution?

While the management at Block.one claims they’re “uniquely positioned to lead the social media revolution” as EOS-based dApps reportedly account for 70 percent of all current “blockchain activity”, several prominent members of the crypto community believe that existing social media platforms like Twitter are “already perfect.”

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 “tack on” another use case for EOS, even though it’s not needed. Shaughnessy, a finance graduate from Rutgers Business School, also mentioned via Twitter that Block.one’s Chief Technical Officer (CTO) Dan Larimer had already founded a blockchain-based social media site, called Steemit.

“All EOS Data At the Whim” of 15 of 21 Block Producers?

Shaughnessy went on to claim that all data being used and generated on the EOS network is at “the whim of 15 of 21 block producers.”

In response to Shaughnessy’s claims, “EOS New York”, a prominent EOS block producer, remarked:

EOS New York further questioned the Delphi Digital co-founder’s statements by arguing that he never really understood the power of blockchain-based social media networks (in theory).

Going on to point out a legitimate use case for uncensorable distributed ledger technology (DLT)-powered social media sites, the EOS BP stated:

“Do you mean you’ve never seen a single instance of Twitter accounts being simply deleted with no warning, explanation, or recourse?”

No Unique Value Proposition?

Meanwhile, Nathaniel Whittemore, the widely-followed curator of Crypto Twitter’s (CT) “Long Read Sundays”, asserted:

Whittemore also appeared to suggest that the EOS-powered Voice platform would have no unique value propositions. This, as he remarked:

Are “Downsides of Centralization” Really So High?

He continued:

“To date, the risk of deplatforming simply has not outweighed the cost of leaving the network. Whenever we ask whether social network X is susceptible to disruption by a decentralized alternative, we need to ask ‘what downsides of centralization are so high that people would suffer the costs of network exit?’”

He added:

For those who are interested, people can sign up for the beta and learn more by visiting voice.com.

Filed Under: EOS, People of Blockchain, Price Watch

Omar Faridi

Omar enjoys writing about all topics related to Bitcoin, blockchain, and cryptocurrency. He is most interested in crypto regulations, quantum resistant blockchains, and Ethereum and Bitcoin Core development. His academic background includes an undergraduate degree in computer science from the University of Nevada and a masters of science in psychology from the University of Phoenix. He works as an application developer for the University of Houston and a data storage specialist for Dell EMC.

View author profile

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

The post appeared first on CryptoSlate

Share: