Just few days after social media giant, Facebook, announced its intention to launch digital payment platform and cryptocurrency, Globalcoin, another promising firm, Block.one, parent company to the EOS platform has announced plans on setting up a blockchain-based social media platform called Voice. This was announced in an event held in Washington, D.C., on Saturday, June 1.
It is no longer news that most traditional social media platforms lacks transparency, as there are reports of users’ data being sold to multi-national companies for advert purposes. Block.one on the otherhand, promises users transparency as it disclosed that users will not be treated as products.
The CEO of Block.one, Brendan Blumer, said:
“Our content. Our data. Our attention. These are 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 profits, and flooding our feeds with hidden agendas dictated by the highest bidder. Voice changes that.”
Also, the blockchain-based platform, Voice, will run on EOS blockchain and through a public chain, posts made by users will be made public on the platform. The CEO also promised that the platform will not be controlled by algorithms, bots or throlls. “our attention has been captured,” he stated. “Social media has not been a good friend to us.”
Block.one has reportedly joined a Coinbase Earn Program, an educative program powered by Coinbase which gives users the opportunity to learn courses pertaining to cryptocurrencies while earning via the tokens they are learning about. EOS also entered into a partnership with Tether in order to put its stablecoin USDT on the EOS blockchain, which is good for micro-transactions.
Facebook’s digital currency, Globalcoin, will face demographic challenges as the platform’s userbase ages, a study by Diar explained.