Block.one, the company behind the EOS blockchain, is seemingly going to launch a blockchain-based Twitter rival later today, June 1, 2019 which will reward users with cryptocurrency for their posts, with funds taken off of advertisement revenue.
Block.one has made it clear a big announcement is coming later today, as all over its communication channels it’s spreading the #B1June hashtag. The company has stated it’ll be the biggest announcement since EOSIO.
— Block.one (@block_one_) May 31, 2019
According to a Bloomberg article, the EOS-powered social media platform is going to be called Voice, and every action on it is going to be registered on the cryptocurrency’s blockchain. A report published by German biz paper Handelsblatt reveals the social network may be a Twitter rival.
Handelsblatt, citing “financial insiders,” reports Block.one is launching the blockchain-based social media platform along with German fintech and biotech investor Christian Angermayer, and notes the platform’s users are to be compensated for actions like posts and likes with advertising revenue.
It further suggests it will have features similar to those seen on Facebook and Instagram. As CryptoGlobe reported, Block.one CTO Daniel Larimer has revealed on Telegram the company ”will not sell data to advertisers” and “will not collect data like Facebook does.”
Moreover, EOS block producer EOS New York reported recently that Block.one purchased over 3.3 million EOS worth of RAM, a sign it is getting ready to “deploy some product or solution to EOS.”
— EOS New York (@eosnewyork) May 27, 2019
There’s also more evidence pointing to an EOS-powered social media platform. Block.one has been awarded a trademark for MEOS, which some speculate could be the name of the platform – instead of Voice. The patent doesn’t add much, but its description reads:
providing temporary use of non-downloadable web and mobile application software for virtual community, social networking, photo sharing, electronic media sharing, and encrypted or otherwise secured messaging and media transmission; computer services, namely, creating on-line virtual communities for users to organize groups and events, participate in discussions, and engage in social, business, and community networking; hosting an interactive web site that allows users to create profiles and participate in a social network in the field of blockchain and distributed ledger technologies…”
Block.one’s move comes at a time in which social media giant Facebook is reportedly looking to launch its own cryptocurrency, which some claim will allow its users to transact through its messaging platforms.
It’s worth noting Dan Larimer helped launch Steemit, one of the first blockchain-based social media platforms that rewards users for creating and curating content. Last year’s bear market forced Steemit to lay off 70% of its staff, and earlier this year a new chief was appointed.