EOS - Voice Token Great News UBI!

Hey you all, welcome back to the channel. And finally, we seem to be getting some good news coming out of the EOS camp with the Voice social network that will be launched on EOS, as we got to see brought out during their big announcement in Washington, DC. This is very exciting news. This is very exciting news. We're finally understanding that an idea like universal basic income will be implemented with the Voice cryptocurrencies, the Voice tokens. Every day you're logged in, you're going to be receiving these Voice tokens just automatically. And so finally starting to get some of those ideas we were hoping would come out of the EOS camp with this, this, this these new developments. Now, um, you know, a lot of people who watch the channel, listen to the channel, know how I feel about universal basic income cryptocurrency. Now, if it was up to me, all the top 10 cryptocurrencies would be universal basic income cryptocurrencies. And, uh, in this video, I'm not going to get into all the economic theories and principles why that makes more sense, but I will say that, uh, EO seems to be picking up on that, and they to be going that direction with the voice token. So during this interview with Ivan on Tech, we got to see a great deal more information, a lot more questions answered about exactly how the voice token would work. And so this is, you know, for me it's great news. The more universal basic income cryptocurrencies that are out there the more projects like the one I'm part of, BitcoinNYK.com, is going to be able to exist in the ecosystem along with hopefully what will be tens of dozens of, uh, of cryptocurrencies that do the same thing. Um, and, uh, hopefully that's going to start to happen once we see the success of such projects. Now projects that deal with universal basic income and the authenticating that you're dealing with real people so the system's not gamed or manipulated is quite complicated. And it is no exception with what EOS is doing with the Voice cryptocurrency token. And so although this is good news for many of us, there is not so good news that also comes out of the— of this new information. Uh, and a lot of that has to do with how do you, uh, verify that these are unique users, right? So from what we're understanding during this interview, it's going to seem like, uh, the project is going to follow a very similar, uh, model as to what most of our exchanges uses. And that's just basically you send in your identification, you send in driver's license, you send in passports. And that part was a huge problem for myself because, uh, more so because it didn't really seem to do anything to solve KYC, right? It— we've always done that and that's always been the hurdle. And, uh, so, um, you know, in this, uh, in, in, in the idea that Dan Learmer, uh, stated during the interview, you know, that this is gonna have to be the way that's gonna have to be done because whereas we might have thought of ideas like biometrics and a variety of things, he was very clear about how biometrics identification can be manipulated and stolen, that it didn't really get to the root of the problem any different than the situation with holding private keys and a security function like that. But in identifying unique users, you know, he seemed to not think that this would be a viable way to do things. I think the confusion for me, what a lot of it is initially, we would hear things like social media profiles. And so this was kind of the part of the genesis of our project BitcoinNYK that uses social media profiles to authenticate accounts. New developments, we're using telephone, mobile telephone numbers. And for those of y'all who use Facebook, will also be authenticating with Facebook because Facebook is doing a great deal more better job of, uh, making sure that the system is, uh, not holding on to multiple accounts. You're only allowed to have a business account and a personal account on Facebook, and it'll kick your account off the system. And I know this to be true because I've tested it and it's done it to me. Now, if you're, um, uh, a a token holder like in BitcoinMYK, and that happens to you, you have to use your social media verification key to process transactions and authenticate them through your, uh, through your social network profile. So if you lose that account, you would lose that, those cryptocurrencies, right? So, you know, in that way, uh, we found these to be some viable ways to get things done with social media profiling. Uh, in addition to that, we have something called hub authority. And in understanding how hub authority works, uh, think about it. If you're, uh, going through several courts, uh, to decide a very important case, and, uh, in the United States of America, you will eventually reach the highest court in the land, which is the Supreme Court, in which whatever choices or decisions, or rather verdicts, have been, uh, made up to that point, or, you know, the court not being able to make a determination up to that point, uh, when you get to the Supreme Court, whatever they decide there as the highest court in the land, that's the final decision. So we have something called hub authority where we have something that is, uh, similar to what you might call block producers or network suppliers. And at the very end of the road, uh, when it comes to the verification process, if you're not able to verify your account through those type means You eventually— your account eventually gets pushed up to the hub authority, right? These hub runners. And they get to decide. They have the full authority to decide if you should— you're, you know, you're who you say you are, right? If the identification and the information provided before, or if you should receive our cryptocurrency, right? And this power is entrusted to them through a fully democratized way, meaning they are elected by the community. So in the final solution to our issue, that is what the problem— now of course with, um, the, uh, Voice token, the EOS, their solution is just do what the exchanges do. And of course what's beginning to happen now is it's just causing a lot of people to say, well, we're going to sit on the sidelines, we're not going to use this. Because a lot of reason people got into cryptocurrency was for the anonymity part. But we are learning that anonymity creates a ton of problems, a plethora of problems in their own, and it causes people not to want to use them. And with BitcoinNYK.com, we have racked our brains to come up with ways to get people to be able to not have to deal with this yet. Have an ecosystem that is very difficult to be manipulated and taken apart. And we want to be clear with this, uh, you know, whether you're, um, we're talking about EOS Voice token or some similar project like BitcoinNYK.com that does universal basic income as well, and they, uh, hopefully work together and have this synergy together. Uh, what we want to be clear is with all these projects, there is no overall solution to them. There are only options, right? You know, there is no way to get around KYC and prove that you're an authentic, uh, account holder, right? And, and that's been the holdup in the slot for, for many, uh, uh, projects, uh, going through this space, especially to deal with social networks that we've seen run into many problems like what we got with Steemit.com, uh, which just kind of turns into this whoever has the most money type situation is who makes the decisions and control the networks. And of course, the problem with that being is the biggest problem with social networking in the cryptocurrency space is that a lot of people don't join social networks to make money. The value that they get is from the participation and the network itself. And, and that's where I think we're losing in, uh, cryptocurrency and in the blockchain technology. And that I don't think we fully understand why people use social media. If you take something like Facebook, right, where you're having a lot of young people leave Facebook and, and, um, but where they're going, they're going to Instagram, which is owned by Facebook. So they haven't really left Facebook, right? But the reason some believe they left, some of the younger people have lost Facebook somewhere between the ages of 13 to 17 is because it was too many old people getting on Facebook. Now if you look at Facebook in recent times here, you're seeing your grandmother's on there. You didn't see that before. Everybody's learned to use Facebook and it's kind of turning off the younger audience to where they're going to start to move to things like Snapchat and Instagram, right? And Facebook is trying to stay ahead of the game by buying up a lot of these social networks that's probably gonna attract younger people, you know, before they get there. And of course, if Facebook buys it up, they can simply just now integrate into these networks. But the point is, you're seeing what's happening there. It's about the people, right? It's about the mass adoption. It's about the value in the network of me being able to, to interact with person to person. And there's value in that in our relationships, and there's value in that in business. Because if you want to promote or advertise, obviously the more people that are on a network, you're going to attract more people through these means. But now if you're taking something like, um, uh, blockchain social networks, which, uh, are very resource heavy, so they need money from us injected into them to keep them running, and then the people who have the most money in them what they do with the money. Well, they have all the influence, but now what you're getting is you're not going to get a whole lot of interaction. You're going to get only a few people on polls that are interacting in those polls because of the, the value and the currency, uh, isn't equalized across the network. So it doesn't turn out working like we want it to work. The only way it's going to work is democratizing the account-based voting, right? Uh, like what's happening with Voice, um, token from EOS. But the only problem, in order for it to happen, now you have to give up all your privacy, right? And then now you have to worry about your private data being hacked. It's stored in one place. So what Voice in a negative way has done is become a new type of Facebook. But it's worse in a way because, uh, with Facebook, it doesn't require as much data, right? Uh, you know, you don't have to send in a passport yet or anything like that, but you're still getting all the effects of the network. So this, this is very dangerous territory, and, and this is definitely a negative thing. But if you're a person who, uh, don't have a problem with that, and not everybody does, because we gotta remember something. Uh, the idea of privacy and the idea of, uh, censorship, and, uh, it's kind of— I liken it to, uh, I'll just give this, this analogy of it. Uh, there's a certain area in a city, uh, where I was talking to some people about it, where accidents would occur at certain intersections where it wasn't a traffic light, and nobody did anything about it until there was a big, a major accident Uh, at one point in time, some people died, and then they start putting up traffic lights and a variety of things. The point I'm trying to make is, in the idea of social media, uh, it being a big issue with privacy and censorship, I agree this is something that we should pay attention to and be concerned about. But until we have a really major incident with somebody's data and privacy on these networks, there isn't going to be a big public outcry or much worrying about blockchain technology used in that way, right? And so that's something to think about. So, uh, want to put this out there as well for those of you all who will be sitting on the sideline, like many of you will be. Uh, want to let you know we did a video the other day, or yesterday rather, that talks about BitcoinNYK, our project, is coming to EOS. So you're going to be able to take advantage of many things with Universal Basic Income social networking that addresses having one account and equal voting in Universal Basic Income based on merit. And it has a social network that you gain value based on merit, not based on how many cryptocurrencies you could buy. You can't buy them for us, they're not sold. And it's kind of similar to how Voiceworks— it's been out a while now. We came out with ours at beginning of the year or a little bit before in December. And we've been— because the universal bridge cryptocurrency as well, we've been setting up a lot of mechanisms with it. But this, you know, getting back to EOS, just trying to, you know, relate to— I think what we thought the Voice token was gonna be and what it is, that I'm definitely on board with the project and I want to use it, but I I don't think I'm going to send in any ID, so I don't know how useful the Voice token is going to be for me. But what I do like about the Voice token is that it does the UBI, and I look at UBI cryptocurrencies as our brothers, our family members in the cryptocurrency space. And like I said, if we can get thousands of them, I would like that much. People will start to see the power of them, take them seriously, and hopefully everyone will start to use them. And I believe we will get to a situation of mass adoption due to the demand of UBI. But the way things are going now, demand and cryptocurrency with social media, I just don't see that working because I— it's no way Facebook's gonna get on board. You're gonna onboard people from Facebook and Instagram, Snapchat, and now that they're implementing a cryptocurrency as well, I'm pretty sure that they're gonna be rewarding people with that, with the Facebook global coin. On these networks. And so, uh, I, I think that social media in the blockchain space is going to be very difficult until you can meet the demand and create something unique outside of what you're getting with Facebook. And that's going to be very difficult, uh, with requiring so much for people in the cryptocurrency space. But good news, kind of bittersweet, some good news finally out of that. But some, some bad news as well. It won't be, uh, we didn't get a clear date on it. We don't know when Voice Token is going to launch. It might not launch to about 2020. Uh, so for those of you guys who waiting to use it, you might want to be a lot more patient with that. But I tell you what you can use in the interim that seems to be more similar to what many of us was hoping, and that's BitcoinMYK.com. And, um, the next thing we're, we're working on is using it as a scaling solution for Bitcoin with its universal, uh, bridge cryptocurrency function. BitcoinNYK.com also works as a social network and universal basic income token. So exciting news, um, with our project. A little bit exciting and good news with EOS and Voice Token. But let me know what you all think about this this entire thing. Uh, comment below. Don't forget to like and subscribe if you like the content. Uh, hit bell notifications to let, uh, you know when our latest videos are available. But that's it, guys, and until next time, you all take care.