Is Block.one about to launch its own EOS-based rival to Twitter?

31 May, 2019 | Updated: 31 May, 2019
by David Robb
Rumor
Is Block.one about to launch its own EOS-based rival to Twitter?

The crypto community is eagerly anticipating an announcement from Block.one, the company behind EOS. However, a recent report in German financial news outlet Handelsblatt may have let the cat out of the bag early - Block.one will be launching new crypto social media platform. 

The major EOS announcement is expected on June 1. According to the Handelsblatt report, rumors of a new crypto-focused social media platform from Block.one have been circulating for a while, although they are yet to be confirmed. Sources are apparently insiders in the financial industry. The news was also shared by CNBC Africa's crypto expert Ran Neuner.

The new platform will be intended as a competitor to Twitter. It will function in a similar way to the micro-blogging phenomenon, but will integrate a crypto-based reward system. Users will receive tokens in exchange for sharing content. The crypto involved may well be EOS, or it could be a new token designed specifically for this platform.

According to German fintech millionaire Christian Angermayer, who is apparently a co-investor in the project alongside Block.one, "Everybody has a digital footprint that's worth a lot of money. So far, the big tech companies are stealing this value from the customers. But that will change: people will earn money each month by their existence alone. That will become the capitalist form of the unconditional basic income".

There have been a number of crypto-based projects that attempt to use a decentralized approach in order to solve the problem of how to monetize digital content. Tron (TRX) and its partner project BitTorrent Token (BTT) both have their sights set on the entertainment industry, while the new decentralized web browser Brave makes use of Basic Attention Token (BAT) in order to let creators, advertisers and consumers contribute to the eco-system and share revenue.

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