Block.one Invest $150 Million Into Voice, But Privacy Concerns Linger

Published at: March 27, 2020

Block.one — the company behind EOSIO (EOS), has injected $150 million into its controversial blockchain-based social media network, Voice.

Announced on March 26, the investment comprises $50 million in intellectual property assets and $100 million. The injection is intended to give Voice the resources needed to operate independently from Block.One.

Voice is in closed beta

Voice is currently in closed beta testing and is exclusively available to U.S. users. The platform is built on top of the EOSIO protocol.

Users must verify their identity to use the platform, after which they can earn Voice tokens according to their participation in the network. Voice users must provide their home address, government identification, and images of themselves in order to be verified.

The Voice tokens currently are not listed on any exchanges and do not have a monetary value. All Voice tokens earned during beta testing will be reset when the platform launches.

Privacy concerns surround Voice

Despite comprising a cryptocurrency-powered platform, Voice has come under fire for exhibiting significant privacy concerns.

Block.one has partnered with HooYu to verify members’ identity and will store all pertinent meta data.

Data collected by HooYu can also be used to “prevent and detect crime.”

UPDATE 14:45 UTC, March 31: This article has been updated to reflect that HooYu stores only what users provide during the KYC process, and the metadata required for verifying a user’s identity.

Tags
Eos
Related Posts
Block.one to Launch Social Media Platform Ahead of Schedule
Voice, the social media platform by EOSIO creator Block.one, announced that it will launch on July 4. According to a Tweet posted by Voice Chief Executive Officer (CEO) Salah Zalatimo on June 6, the social media platform will be available to readers on U.S. Independence Day, with only registered users able to publish content or engage online. “We had been building towards a big reveal this fall,” said Zalatimo, “but, we simply can't wait any longer. We need to take social back from big tech NOW.” The platform had been in beta testing since Feb. 14. The CEO said registration …
Blockchain / June 8, 2020
Daniel Larimer, CTO of EOSIO developers block.one, resigns
Daniel Larimer, the CTO of EOSIO developers block.one and founder of early crypto exchange Bitshares and blockchain-based social media platform Steem, announced in a short blog post today that he has resigned. “[I] am proud of the EOSIO software I was able to create and launch with the help of an extremely talented group of engineers. Alas, all good things must come to an end. As of December 31, 2020 I have resigned my position as CTO of block.one,” the post read. While the post didn’t specify a reason for the departure, his recent social media activities may hint at …
Blockchain / Jan. 10, 2021
Exclusive: Blockchain-Based Social Network Overhauls Platform, Partners With Matic
Ethereum-based social network Sapien has unveiled updates to its platform, as well as a partnership with the initial exchange offering project, Matic Network. “After several months of development, we’re launching the next release of our platform, called Alpha Persei,” Sapien Network co-founder and CEOAnkit Bhatia told Cointelegraph in an interview. “This is a revamped platform across the board,” he said, highlighting new aspects such as Portis wallet integration and rewards engine reconstruction. Sapien also secured placement on KyberWidget, allowing trading between Sapien (SPN) tokens and Ether (ETH), according to a statement. Sapien partnered with Matic Network for future developments Sapien …
Technology / March 16, 2020
Block.One Pays $30M for New Blockchain-Powered Social Media Platform’s Domain Name
Eos (EOS) developer Block.one has paid $30 million in cash to purchase a domain name for its new blockchain-based social media, called “Voice.” The development was revealed in a filing published by the United States Securities and Exchange Commission (SEC) on June 18. According to the SEC filing, submitted by enterprise analytics and mobility software provider MicroStrategy, Block.one’s domain name purchase of “voice.com” was enabled by web domain registrar GoDaddy and concluded on May 30, 2019. In an official statement, Marge Breya — senior executive vice president and chief marketing officer at MicroStrategy — outlined what she believes to be …
Adoption / June 19, 2019
Eos Developer Block.one Announces Blockchain-Based Social Media Platform Voice
Eos (EOS) parent company Block.one has announced a blockchain-based social media platform called Voice, according to a press release shared with Cointelegraph on June 1. The firm claims that the platform will use the Eos blockchain to provide transparency on how it operates, without hidden algorithms or content-pushing mechanisms of which the user is unaware. In the press release, the CEO of Block.one, Brendan Blumer, compared Voice with traditional social media platforms, saying: “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 …
Blockchain / June 1, 2019