Most social media platforms are free. You can use Facebook, Instagram, Youtube, or what have you at no economic cost. However, over the years, studies and scandals have revealed that these platforms and the companies running them are monetizing you — your information, media, and your online habits as a whole.
As many like to say, if “you aren’t paying for the product, you are the product.” As put by entrepreneur Brendan Blumer in a recent keynote, “You just can’t rebuild a house when the foundation is crumbling. Social media was created to use its users. Right now, it’s the companies, not the users that reap the rewards.”
Yet, with crypto assets and blockchain technologies, some are sure that we can turn this issue on its head, allowing consumers to take control of their information once again. Block.one, the company behind cryptocurrency project EOS, is looking to do just that with its newest venture.
“The truth is, current social media platforms are designed to use their users,” said Brendan Blumer, CEO of Block.one, who opened the company’s June 1 event at the DC Armory in Washington, D.C. with the announcement of Voice. “
Voice, An EOS-Based Social Platform
For the past few months, the Cayman Islands-registered Block.one has hyped up B1June, an anniversary event of the launch of the EOS blockchain. The day has passed, and with this came a few interesting announcements.
Per a press release Block.one’s big announcement is Voice, an EOS blockchain-based social media application meant to empower users and to usurp the hegemony of Facebook and its ilk. As the release explains, “Voice is a is a more transparent social media platform for the world,” where good content gets rewarded and where the powers at be aren’t scrapping for every tidbit of information.
Instead of building a platform where data is auctioned to the highest bidder, who then turn around to “flood our feeds with hidden agendas”, Block.one has built Voice to be “more aligned with the world” in that it promotes and cultivates proper content creation, curation, and sharing. Block.one’s release adds, “Through a truly self-sustaining economy of ideas, users will directly benefit from their ideas and engagement on the platform.”