EOS-based social media platform "Voice" to release beta version

Block.One, the parent company of EOS, announced in June of this year that it will launch a blockchain-based social media platform called Voice, with the beta version set to be released on February 14 next year. The company has promised to share its latest progress with the community as development progresses.

According to the report, Voice claims to have attracted tens of thousands of sign-ups for its beta testing. However, the app is still grappling with regulatory uncertainties and is in ongoing discussions with regulatory bodies to ensure compliance.

Current Issues with Social Platforms

Overall, Voice is positioned as a new social platform that aims to create a healthy economic ecosystem with the Voice token, addressing the growing concerns over privacy and data issues in today's social media landscape. Voice claims it will tackle the existing imbalances in social platforms:

The existing platforms that were once trusted have seen a continuous imbalance of interests between platforms and users, making user information increasingly susceptible to data analysis, as well as issues such as identity theft, cyberbullying, and misinformation. More and more people are seeking to manipulate user thoughts and control their behaviors.

Block.One CEO Brendan Blumer and CTO Dan Larimer previously highlighted at the Voice launch event:

Social media is becoming more corrupt, designed to "exploit users," earning trillions of dollars in profits through user data and engagement. Personal user information is auctioned off in public markets, which is why we are so focused on Voice.

Weiss Ratings Downgrades EOS Again

Despite the positive news of an upcoming social platform launch, renowned rating agency Weiss Ratings downgraded EOS from a B rating to C- on the 7th. Weiss claimed in their tweet:

EOS has failed to achieve decentralization, with the top 100 EOS holders owning only 0.01% of the circulating supply but controlling up to 68% of on-chain transactions' voting power. While EOS is widely considered a more advanced cryptocurrency, it still lags behind Ethereum and Bitcoin in rankings.

1/6 We’ve had great respect for work and thinking that went into the #EOS project. But the Weiss Crypto Ratings model is not based on opinion. It’s driven by data. And that data has now caused a downgrade from B to C-. Here's why (full article to be published soon):

— Weiss Crypto (@WeissCrypto) December 6, 2019

Weiss Ratings' stance on EOS has seen a significant turnaround this year. In their report in March, EOS held an A rating, ranking second only to Ripple XRP.

However, in June, Weiss first downgraded EOS from A to B due to "serious centralization issues," claiming Cardano ADA to be the true decentralized and equity-based blockchain project.

Weiss Ratings' move has divided the cryptocurrency community, with some agreeing with their viewpoint while others questioning the overall credibility of the rating agency.

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