One of the biggest independent financial ratings agency, Weiss Ratings has downgraded EOS amid growing concerns in regards to centralisation.
Earlier this year, on March 25th, the chief technology officer at Block.one revealed that on June 1st, EOS would be making the biggest announcement ever since EOSIO was launched.
Just one day before the event, May 31st, the previous Chief Community Officer of Everipedia and founder of Genius.com, Mahbod Moghadam took to Twitter to say that EOS could be on the verge of releasing a social network that will be developed on top of Everipedia in order to make it compatible with the IQ token.
“Tomorrow, $EOS is announcing their social network. That social network will, I promise you, end up being built on top of @Everipedia to make it compatible with $IQ
if you increase "internet knowledge", you increase your IQ - simple!”
The next day (June 1st), news surfaced that the CEO of Block.one, Brenden Blumer revealed that the blockchain-enabled open-source software publisher’s new social media network - dubbed Voice - will be launched on the EOS platform.
Blumer explained that current social networks like Facebook are designed to use their user’s data so that the platform, and everything surrounding it, can see the rewards.
“It’s the platform, not the user, that reaps the reward. By design, they run by auctioning our information to advertisers, pocketing the profit, and flooding our feeds with hidden agendas dictated by the highest bidder. Voice changes that.”
With this, Voice was made so that users can have control over THEIR data. Makes sense, right?
“Voice will cultivate creation, sharing, discovery and promotion of content on social media platforms by real users, not bots and fake accounts. Through a truly self-sustaining economy of ideas, users will directly benefit from their ideas and engagement on the platform.”
Weiss Ratings took this announcement as something that was/is very centralised. This gave EOS a downgrade due to this problem with them saying on Twitter on Friday:
EOS DOWNGRADE: #EOS has serious problems with centralization, and their event last week did anything to alleviate that, so we’ve severely downgraded its technology score. It’s now up to #ADA to launch a truly decentralized #PoS #blockchain. No pressure.#crypto #Cardano #BTC— Weiss Ratings (@WeissRatings) June 7, 2019