The cryptocurrency industry is certainly not new to collaborations and projects, all being run by many different firms with the aim of creating many solutions never before thought of, pushing for renewed faith in adoption or maybe even trying to outdo a competitor.

Even though the latter is usually not the case, the number of projects being worked on in the sector is significant. One of such firms, it is expected, will soon unveil another project of its own.

Block One

The maker of the EOS blockchain, Block.one, is rumoured to be working on something very big and will probably announce this project at an event which will take place soon, in Washington, D.C. At the moment, no one really knows exactly what the project will be about and this lack of details has succeeded in piquing everyone’s interest and enthusiasm, as to what Block.one is planning.

Block.one recently unstaked about 9.8 Million EOS and no one is exactly sure why. The firm’s co-founder and Chief Technology Officer (CTO), Daniel Larimer, recently made this known in the EOS Telegram group. The message read:

“Hey All, we just unstaked our vested EOS to facilitate new internal policy and strategic initiatives. Rest assured we have no plans to sell any EOS at this time.”

There has been a lot of speculation as to why this was done but the company has reportedly spent $20 million purchasing RAM. This has taken the speculation up quite a few notches and now, people just can’t seem to stop talking about what Block.one would be announcing at their event on June 1.

New Social Media Platform?

Because Daniel Larimer is also the co-founder of Steemit, there are a lot of speculations that Block.one just might be working on its own social media platform. Steemit is a decentralized platform for social media interactions and blogging, run on the Steem blockchain. On Steemit, users have the opportunity to earn Steem tokens.

Apart from Larimer’s experience with Steemit, another reason why people think the Block.one announcement just might be social media is a tweet back in February, where Larimer disclosed his thoughts on a social platform more decentralised than Steemit.

According to Larimer:

“What if you could decentralize social media more than Steemit? The future of social media is thousands of blockchains under independent governance coordinating with inter-chain communication behind a seamless user experience.”

Block.one Wallet

There are people who also think that the new project just might be the company’s own official wallet. Yves La Rose, the CEO of EOS Nation thinks that the announcement could be a mix of different things including the wallet and the social media platform. Yves says:

“My guess is a combination of announcements – the launch of the social media platform (MEOS); an official wallet running on secure enclave; regulatory indication that EOS is a utility token; and a bonus burning of 10M EOS tokens.” Whether it’s one or all of these things, Yves has expressed excitement and “can’t wait for June!”

Could the U.S. Government be Involved Somehow?

This speculation stems from a message posted on the Telegram group by Larimer, saying that Washington is interested in Block.one. The message said:

“Trump’s advisors know about block one. Everyone in DC wants to talk with us.”

What About Apple?

Maybe Apple now has some vested interest in crypto and wants to enter the industry through Block One. An anonymous EOSIO develop expressed this view saying:

“All the people I know at block one didn’t say anything. PossiblY a social media product. They bought 20 million dollars of RAM. Possibly for a big app. Maybe a wallet release. Maybe Apple has stopped hating crypto. That’s my speculation.”

No matter how many speculations are aired, they’re all still just speculations. No one can really say for sure what the announcement is and Block One has succeeded in keeping it a secret. Since June 1 is only a few days away, let’s wait and see.

The views and opinions expressed in the article EOS Leader Block.One Spends $20 Million on RAM for Big Announcement Coming on June 1 do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.

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