Block.One Opens Location in Washington DC
Block.One, the founding company of the EOS project, opened offices in Washington DC with plans of US expansion.
Block.One announced the opening of Washington DC offices in a drive to expand on the US market. The announcement arrived after the EOS network underwent a successful hard fork upgrade, to boost its performance for the Voice app.
Block.One has prepared the app as its flagship blockchain-based product, linking social media and voice chat with a blockchain record.
The announcement was made through the outlet of the Governor of Virginia’s office. Block.One will invest $10 million and open 170 positions for locals.
“Block.one maintains a strong presence at its Blacksburg operation, and we are thrilled that this global company will expand its footprint in Virginia by locating its U.S. headquarters in Arlington County,” said Governor Ralph Northam.
“Blockchain and other technologies are rapidly evolving, and industry pioneers like Block.one help to bolster the Commonwealth’s reputation as a leader in the information technology sector. The company’s continued growth in Virginia is a tremendous testament to the flourishing high-tech talent pool that is prevalent in diverse regions of the Commonwealth, from the New River Valley to Northern Virginia.”
Block.One is a relatively controversial organization, as it sits on a vast haul of Ethereum (ETH). However, there were doubts that during the EOS ICO period, the ETH was recycled to boost EOS prices, and Block.One may own less coins than expected.
The organization that created the EOS.IO code claimed to have raised $4 billion in ETH, and remains one of the biggest holders of EOS. Block.One holds currently around 9% of all EOS, while staking 90 million. Most EOS whales are also block producers. For now, Block.One has not exercised its extreme influence in voting.
EOS skepticism continued, despite the reported stunning statistics for the network, as well as the growing number of distributed apps. Discontent was expressed after it became clear that most block producers are teams based in China, raising the issue of centralization and country-specific risk.
The EOS market price also raised eyebrows, as it remains relatively stable during downturns. But EOS has also crashed significantly, losing 25% since last week to land at $2.89. The current prices remain permanently depressed, under the peak levels during the daily auctions, which touched $14 easily.