Block.one pumped $ 150 million into the blockchain social network Voice

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

Announced on March 26, the investment included $ 50 million in intellectual property and $ 100 million in cash. This investment is intended to provide Voice with the resources it needs to operate independently of Block.One.

Voice is in closed beta

Voice is currently in closed beta and is only available for US users. The platform is built on top of the EOSIO protocol.

Users must verify their identity in order to use the platform, after which they can earn Voice tokens depending on their participation in the network. Voice users must provide their own home address, ID, and photo in order to be verified (KYC).

Token Voice is not currently listed on any exchange and has no monetary value. All Voice tokens earned during beta testing will be reset when the platform launches.

Privacy concerns

Despite including a cryptocurrency-backed platform, Voice has been concerned by demonstrating significant privacy concerns.

No user posts or data is stored on Voice Chain, with the blockchain only containing the hash for all the platform’s data.

The U.K.-based company, HooYu, will store all the actual data for Voice. The Company reserves the right to share all collected user data with its employees and contracting third parties to provide HooYu data processing services.

HooYu provides a debt collection service, through which user data can be used to track debtor by revealing all connections with an individual or business; This allows them to discover hidden addresses, associates, phone numbers and email addresses.

The data collected by HooYu can also be used for crime prevention and detection.

It seems to be going against the so-called decentralized social network. They even publicly announced to sell data to third parties. This is gradually asserting criticisms of the popular rating agency Weiss Rating Crypto that EOS is too centralized to be correct.

Leave a Reply