Block.one’s June 1 Surprise Announcement Was The Voice Social Network
The long-awaited event scheduled for June 1 saw the news of the Voice network leaked by Bloomberg.
Block.one finally revealed its secret announcement, as the news arrived earlier, following a publication by Bloomberg. Voice, a new social network based on voice communication, is also keeping a record of transactions on the EOS blockchain.
With this move, Block.one extends the model of the Steemit network, also a social media with a blockchain component. The Steemit network was based on a protocol similar to EOS, also built by Daniel Larimer, the founder of EOS.
The aim of blockchain-based social media is to disrupt the model where social media companies own the data of users and manipulate them for advertising or another type of algorithm-based targeting.
“The truth is, current social media platforms are designed to use their users,” said Brendan Blumer, CEO of Block.one in a press release.
“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. 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.”
The launch of Voice was preceded by a large-scale purchase of EOS-based RAM, a resource for running applications on the distributed network. RAM allows for new account creation, as well as the capability of computation on the EOSIO distributed operating system.
The announcement from Block.one arrived at a time when doubts about EOS price manipulation resurfaced. Additionally, the decision to build a social media project follows the cautionary tales of Steemit, which devolved into a bot-driven Ponzi scheme instead of generating organic influence and paybacks. Other projects aiming to combine cryptocurrency and social media are also lagging, as in the case of Kik, which has regulatory problems with its token.
But social media also spread another small fact, a giveaway that connected the Voice social network with the Bose producer of headphones. Unfortunately, Bose has been involved in a data-stealing case based on using voice information:
Following the long-awaited announcement, the price of EOS remained stagnant, retreating slightly on Monday to $7.38, failing to keep above the $8 level.