Block.one, the multibillion-dollar parent company of EOS, has recently introduced a social media platform named Voice, backed by blockchain technology.
According to a press release, the company will run Voice on EOS blockchain, which helps ensure transparency since all transactions will be recorded in the public chain. The firm also claimed that user privacy should not be harmful since there will be no hidden algorithms or content-pushing mechanisms.
“The truth is, current social media platforms are designed to use their users. 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.” said CEO of Block.one, Brendan Blumer, comparing Voice with traditional social media platforms.
In the meantime, Facebook CEO Mark Zuckerberg outlining a “privacy-focused vision for social networking”, showing that it would move in the opposite direction.
Recently, a jobs marketplace that matches professionals with remote and freelance jobs called Moonlighting has reportedly announced it is migrating its 700,000 user accounts onto the EOS blockchain.
Facebook has also set up a new fintech firm named Libra Networks LLC in Switzerland, which was said to be one of its secretive internal cryptocurrency projects “Globalcoin”, reported by The Crypto Sight on May 21.