With all the hype about Facebook and its cryptocurrency concept, cryptocurrency companies are taking a U-Turn and venturing into the realm of social media. Block.One, the company behind EOS is set to rival the likes of Facebook and Twitter with their own social media behemoth.

Announced at the Block.One event held on June 1 in Washington D.C. the CEO of Block.One Brendan Blumer unveiled Voice, the social media platform that will operate on the EOS blockchain which is soon to be upgraded to Version 2.0.

Heralded as a “transparent” social media platform, a press release to the effect stated that “the value of good content gets circulated right back into sustaining the community, not corporate bottom lines.” Blumer, taking a jibe at other platforms stated that their competitors are “designed to use their users.”

The release quoted Blumer stating,

“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.”

Piling on to their core message of emphasizing on the user of the platform rather than the products, the document read that “creation” will be the first order, and the platform will promote “content” by real users and “not bots and fake accounts.”

Since Voice will be built on the EOS Public Blockchain, the social media platform will follow the EOSIO protocol so that the workings will be public, adding on to their “transparency claims.” The document read,

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

Blumer also added that Voice will have its own token, titled the Voice token, stating that everyone who “signs up for Voice will get an EOS account.” Block.One’s CTO Dan Larimer also opined on the Voice token stating that users could stake their tokens to move ahead on comments: the higher you go the more tokens you stake. If you get passed on the comments ladder, tokens would be returned.

In the same event, it was announced that EOS would be integrated on Coinbase Earn, allowing Coinbase users to earn the cryptocurrency by viewing content geared towards educating retail investors about blockchain technology.

The post Block.One aims to usher ‘Transparency’ through social media platform via the EOS Blockchain appeared first on AMBCrypto.

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