According to the post by Block.one, company representatives attended the government buildings to discuss the future of Voice. Per the announcement:
“In December of 2019, we sat down with the U.S. Securities and Exchange Commission in Washington D.C. to discuss our vision and plans for Voice: what it is, what we are trying to achieve, and how the tokens will work.”
The company states that it has no right to publish all the related information. However, they will take all the necessary steps towards the regulators, presumably after having to pay 24 million to the SEC for unregistered security offerings.
As the company was seeking to become the disruptor of social media, it has set several tasks and challenges for the community to complete. The Voice, working on the EOS blockchain, should have become the innovative tech.
When in June 2019 Block.one publicized their plans, people have started talking about the company as the game-changer. The decentralized social network will not censor users and bound to facilitate blockchain’s obvious benefits. All the deals and exchanges on the platform are public thanks to blockchain. Social network avoids shameful Facebook practices of spying on people. This adds to integrity and transparency, making the network people’s servants.
The project developers said they’ll put lots of effort to eliminate bots and maintain a clean atmosphere. The bot accounts will be shot, and the network will self clear itself from the people breaking basic ethics or posting fake news.
Beta Version of the App Launches in mid-February 2020
Via Twitter, the company CEO Brendan Bummer said that the technical beta of Voice will be rolled out on 14 February 2020.
Feb 14 is a technical beta where we can test and iterate. In the future, publishing to public chains will diversify moderation and strengthen censorship resistance. We let Coindesk know their article was misleading, but they refused to edit. Let’s fix journalism with your #Voice
— Brendan Blumer (@BrendanBlumer) January 18, 2020
Strangely, in the blog post, Voice names the regulators as the key stakeholders:
“Put simply, we’re committed to consulting with key stakeholders – in this case, regulators – from the start openly and transparently. Addressing any questions they might have so that we may seek solutions together.”
The regulators are indeed important in setting up a legal business. But how is that the regulators are the project’s key stakeholders? However, this definition may have several meanings. Interestingly, while many other projects claimed to raise funds for a similar idea never delivered the code. The Voice team seeks to deploy new code on 14 February 2020. Per the announcement:
“Come on the 14th of February, everyone will be able to experience the product and engineering work that we’ve been earnestly completing over the past year. As you participate in Beta, you will see the evolving creativity of our bleeding-edge engineering team.”
The Voice will be using Unique Value Propositions to attract new users. And this consists of three key factors: user verification via KYC, which is a tool to cut off bots and botnets, as well as shill accounts. Then, its Transparency, that delivers clarity via blockchain. The last one is special-purpose tokens, which is a tool of alignment between the platform and the users. As well as the tool for somebody to enact a new type of business if the Fortune sends rays of luck.
Only Authorised Users Will Send and Receive Tokens, Create Content
Voice says Facebook had to close 5,4 billion fake accounts during its work. This is a phenomenal number compared to 7 billion real people living on the planet. Half of them still have no Internet access.
The Voice blockchain will create timestamps every time a user makes something on the platform. Once you comment, share, sing up, post, follow and more, the blockchain receives somewhat similar to a micro-TX. However, when signing up, you should understand what are you sign up for. This is not the type of social network for people who like extraordinary stuff. Teenagers must also consider not posting personal information to the network, including the thoughts about conquering the world, etc.
Any of your information on the platform will be available to other users. Since there is no definitive guide on what’s the privacy features, let’s wait till the beta release. The authorized users will be able to create content, send and receive the tokens and so on. Ordinary visitors get read-only access. Interestingly, the EOS founders have a partnership with Tether, so the stablecoin will likely to be available via Voice.
Jeff Fawkes is a seasoned investment professional and a crypto analyst covering the blockchain space. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.