When one door closes another opens. In 2020 we say goodbye to the current decade, and begin a new era in blockchain technology. It was on this day, Jan 3 (2009), that Bitcoin closed off a decade by setting the stage for a new money system in the new decade. EOSIO is destined to set the stage for this new decade. An age of great socioeconomic advancements and an improvement to the quality of globalization. Let me tell you how it’ll achieve this in 2020.
The year 2020 marks the beginning of a new era; an era of change and transformation. An era in which everyone is looking to adapt to the future of technology and automation. This year will mark the end of a decade and bring what I believe to be reminiscent of the Roaring Twenties for blockchain investors. Whichever blockchain performs best in 2020 will become the one people most associate with in the coming decade (2021-2030).
EOS(IO) is one of the front-runners for the advancement of technology and automation. This is a future where artificial intelligence is prevalent, payments are instant and every aspect of our social lives is digitized. For such a reality we need a system that’s secure, trust-less, and free in both instances of the word. EOS is capable of delivering on these necessities and so much more. Thus 2020 will have to be the year that such information is communicated to the greater public. I have reason to believe that EOSIO is going to have a loud and capable voice this year.
A change of narrative
Of course despite a loud voice we still have to tackle the ever looming cloud of regulatory uncertainties. They’re like a recurring stubborn nightmare that repeats every single night. The current faction of world governments is run by an older generation whom from their perspective ‘they are already living in the future’. Thus for this view to change, it is obvious governmental faculties need to employ younger personnel who’ll have a different perspective of the future. A future that’s much more likely to have an effect on them, than on their predecessors.
The blockchain space is run by a younger and better equipped generation. The likes of Brendan Blumer, Daniel Larimer and Vitalik Buterin are all aged in their sub 40s. Blockchain developers (architects) are on average in their 20s-30s. Compare that to the US congress which has an average age of 60. Only about 17% of governmental workers are under 35 years and unsurprisingly more than a quarter of them are over the age of 55. It should thus come as no surprise when a 73-year-old president says “Bitcoin and other Cryptocurrencies are not money…and based on thin air.”
Clearly for the narrative on blockchain and cryptocurrencies to change from a political standpoint, blockchain needs to convert the 55-year-old federal workers. A more convenient outcome would be to replace the current workforce of governments to one under the age of 40. That seems unlikely though, even in the decade. The next best thing to do is lobby for blockchain in congress and educate them on its many potential benefits.
Block.one lobbying for EOSIO in Washington D.C.
In June last year Block.one disclosed information evidencing that it is a client of Holland & Knight LLP. An international law firm specializing in regulatory and government affairs in relation to blockchain technology. The firm would take on the task of lobbying for Block.one in Washington D.C. and help them gain crucial political support in the capital state. Not to forget that Block.one has its US headquarters strategically located in Arlington, Virginia, a Washington D.C. metropolitan region. Virginia is ranked second in the US for having the highest concentration of tech workers. This makes it a prime location for Block.one to carry out operations that will help it scale and act much quicker on its technological goals, ergo EOS. Two birds with one stone?
What other blockchain company or project is working this hard to move mountains in US congress? The only other company that comes to mind is Facebook with their Libra project. Unlike Facebook, Block.one managed to swiftly clear things with the SEC regarding their “unregistered” Initial Coin Offering (ICO) in 2018. Credit to Block.one’s legal team, in the settlement process they also managed to provide a greater clarity on EOS’ legal standpoint moving forward. Securing a conforming relationship with the SEC from this point on. A hurdle that so many blockchain projects are yet to confront.
This is the kind of legal surety that companies will need when the time comes for them to deploy their services on the blockchain. Not only did the settlement cover the ICO but also covered for any other token products Block.one might create in the future. If you missed the details of this historic settlement, then I suggest you check out this brilliantly annotated document which is worth a read. Read: Dissecting the Block.one settlement with the SEC.
Event: The Future of Money, Governance, and the Law
Dan Larimer, co-founder & CTO at Block.one, will be attending this event as a keynote speaker on blockchain technology. The event will be attended by government leaders from around the world discussing their 2020 plans for blockchain technology and cryptocurrency. This year will be the last opportunity for nations to adapt or face impending irrelevance in the new economy. Missing this opportunity will come at a great cost further down the line.
The Topics Include:
- Elections Accessibility and Security
- Global Adoption, Banking, and Regulation
- Government Service Delivery, Interoperability, and Integrity
- National Security and Competitiveness
- Preparing for the Future
- Protecting Property, People, and Communities
- State and Local Implementation and Regulations
Take the United States, it was recently a world leader in technology. It dropped the ball at some point on staying ahead of future advances of technology and has been relegated to playing catch-up. China didn’t hesitate in taking the lead. For instance, China is leading the US by years in the race for 5G and has recently announced its intentions to fully embrace blockchain technologies. With president Xi Jinping saying they need to gain an edge over other nations by developing and researching in blockchain.
At the U.S. Capitol in January 31, 2020, world leaders will get a chance to discover blockchain’s many capabilities and potentials from expert blockchain leaders. A last chance perhaps to keep up with China and board the blockchain ship to cyberspace. Dan Larimer is the architect of the world’s most advanced public blockchain system, ready for integration into any organization. EOSIO is certainly an easy way for other nations to keep up. For them to keep up-to-date on a technology that offers greater socioeconomic benefits to the world population.
What makes EOSIO the highest performing public blockchain protocol in the world is its governance algorithm. To maintain integrity whilst improving on speed, efficiency, and quality of the network EOSIO employs a Delegated Proof of Stake (DPoS) algorithm. This algorithm states that a blockchain shall be governed by an independent syndicate of 21 Block Producers (BPs). They are responsible for verifying transactions and implementing upgrades to the blockchain.
These 21 BPs are voted upon by token holders, amongst hundreds of BP candidates. Ideally, candidates that contribute a lot to the ecosystem are voted into the syndicate. Many of these candidates develop tools, software and solutions that make EOSIO the powerhouse that it is today. Similar to governments around the world EOS is governed by its citizens (users/token holders). Each user is encouraged to actively participate in the process. Ensuring an ever transparent and fair governance mechanism.
Block.one has recently announced its intentions to become part of the voting process. This decision will help create a much more stable governance of EOS. And because Block.one has far more superior resources, they’ll be able to research and vote for the best candidates. Keeping incapable BP candidates further away from the governing positions.
End of the exploitation era
In today’s digital era the biggest challenge we face is exploitation from big corporations. The customer and user of digital applications has been turned into the product. Large quantities of data are harvested from each individual and sold for billions of dollars to the highest bidders. Fact is our private information is/has been compromised and is used against our will on a daily basis. To make matters worse, this is done by the same corporations that pay very little to no tax despite making billions off of us.
There’s been a paradigm shift over the recent years as more people are becoming conscious to the injustices done to them by their governments and big corporations. The U.S. has a presidential candidate running on the widely popular mandate of giving every citizen a $1,000 ‘Freedom Dividend’. To afford this grand scale scheme he proposes implementing a Value Added Tax (VAT) of 10% which would result in billions of tax raised from big corporations. Using a VAT system big corporations would have no way to escape paying taxes.
Trickle-down economics haven’t been effective as the gap between the rich and the poor further expands. Citizens who are bound by poor political systems are finding refuge in blockchain systems for a fairer, transparent environment. As such developing countries have a higher adoption rate for cryptocurrencies ahead of the U.S, China, and Russia. It is a matter of time anyways before blockchain becomes the new status quo.
EOSIO to the Rescue
Block.one has a solution to some of society’s biggest problems. The solution to consumer exploitations and user data ownership is a social media platform. Representative of EOSIO’s intentions to be a safer and fairer online environment is Voice. Going up against the likes of Facebook, Twitter etc. Voice aims to give power back to the users of social media. The role social media plays in 21st century life is insurmountable. It connects individuals from all corners of life, acting as a mouth piece of the world. We receive information, news, and start powerful initiatives using social media.
This space is meant to be a free environment for individuals to voice their opinions and connect with real people. Current social media platforms have failed us on this front, exposing us to grave dangers of the internet. Fake users, fake information and fabricated initiatives. It has gotten to a point where we can’t discern real from fake. Social media has become a chaotic environment deprived of factual considerations. Where truth is quickly immersed by loud fabrications.
The Voice platform will tackle these issues head on in a single platform. Freedom of speech, ownership of personal data, authentic connections, etc. The Voice platform will ensure that every user is real, first and foremost. Everyone who uses Voice will have a verified identity. Secondly, by sharing their content (data) on the platform user’s will receive rewards in the form of Voice tokens. These can be used to promote content on the site or even sold to willing buyers. No doubt Voice will be a much welcomed sight in ending this decade of digital coercion by big corporations. And mark the beginning of a more humane digital era moving forward.
We’ve been covering Voice extensively since its offical announcement in June, bring yourself up to speed here.
EOS VC Grants Program
No doubt hundreds, if not thousands, of blockchain companies and projects have applied for the EOS VC Grants. We’re likely to see this program come to fruition early this year. Tens of promising EOSIO projects will have the necessary tools to actively develop applications that will benefit the entire EOSIO ecosystem. They’ll now have the funds to promote and push for the adoption of EOSIO.
I said earlier that ‘whichever blockchain performs best in 2020 will become the one people most associate with in the coming decade (2021-2030)’. Initiatives such as these demonstrate the necessary proactive measures that’ll make EOSIO a force to be reckoned with in the coming decade. I sure look forward to learn more about the projects that receive this grant and seeing what value they offer us a community and token holders.
This year sure has a lot to look forward to and I for one will be keeping track of what goes on. This was just the broader view of EOSIO and much more lies in the weeds. We are going to experience an improvement to the core tech with the EOSIO 2.0 upgrade. We might even get an upgrade to EOSIO 3.0 before the year is over, as Dan Larimer announced October that their team was already working on it.
What would make 2020 the perfect year? If the EOS price would reach $100, that would be great. Or maybe if we saw a mass adoption of EOSIO by the public, governments, and big companies. What if EOS became the industry standard for blockchain ahead of Bitcoin and Ethereum? Personally I wish to see EOS grow its gaming, gambling and social applications presence. We need quality applications capable of marketing themselves and resonating with the general public. For me a massive growth in daily active users would make 2020 the perfect year. But I’d happily settle for the $100 EOS price!
Prices aside, there are indicators that show us great hope for 2020 and the direction we might be headed towards. In 2019, we had a glimpse of what the future holds and in many ways it felt like a build up to some great things. Some events have been shared for the coming year with some amazing dApps expected to launch in 2020. In coming articles I’d like to highlight some of these events and cover some of the projects that are set to do amazing things year.
Thank you for reading this article in its entirety. I look forward to a long prosperous year ahead of us and hope you keep in touch. Happy New Year EOSIO!
Until the next one,
Disclaimer. EOSWriter does not endorse any content or product on this page. While we aim at providing you with all the important information we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.