Blockchain project developer Dan Larimer recently announced his decision to step down as CTO of Block.one, the company in charge of the EOS project. The executive stated on the Voice platform that on December 31, 2020, he retired from the company. “I lean towards building technologies more resistant to censorship,” he noted at the time.
In a post he shared on the HIVE blog, Larimer laid out the reasons that led him to leave the company he founded in 2017 together with businessman Brenden Blumer. As he points out, sYour concerns revolve around the pressure you are exerting regulation “About a technology that many of us hoped would free us from international banking cartels.”
Larimer said he prefers to take a new course that gives him back by building tools that restore power to people. Source: Twitter @ bytemaster7
For the developer, the vision presented by Bitcoin since its birth, when it was a functional medium of exchange, free of intermediaries, is fading. But now, he declares, the system has been captured by the regulatory apparatus that is absorbing privacy and frustrating those who want to use cryptocurrency without a regulated custodian. “All of this turns Bitcoin into just another financial asset,” says Larimer. For the reasons stated believes that decentralization in the blockchain ecosystem is relative.
Faced with the panorama that Larimer describes, he also asks “what would happen if EOS became part of this walled, centralized and fully regulated KYC user garden?” He himself seems to respond by expressing his dissatisfaction with the project that, like others, would be using some valuation method divorced from technological fundamentals and commercials in which the world of cryptocurrencies should be sustained. Far from speculation.
“BTC, EOS and ETH are being valued as currencies disconnected from technological fundamentals. All three are on their way to being caught by regulators with a total loss of privacy. The best hope a token can have for capital gains is to maximize its utility as money and its compliance with regulations and work to get institutions to adopt it. “
Dan Larimer, former CTO Block.one in the statement What’s next for EOS, ETH and BTC?
EOS, a decentralized project?
The developer adds that the collective governance model adopted by EOS will make it a better currency. He also believes that KYC accounts with smart contracts approved by the regulator may be the only way to go, if the goal is to make huge capital gains.
Larimer believes that Block.one is in a position to steer EOS down a more decentralized path if the community chooses to go down that path. However, he adds: “I am not interested in my innovation being limited by the whims of government regulators.” Ensures that you will stay on the path of creating tools that Give power back to people who prefer to win freedom over dollars.
Dan Larimer’s statement in which he suggests that EOS is currently not as decentralized, comes after months of allegations by the community that questions the initiative for having a very centralized governance system.
By design, EOS only has 21 block producers. These 21 producers are chosen by the EOS community in an ongoing election, but only those with tokens participate. This suggests that the more tokens a user owns, the greater their voting power and, therefore, greater is its power to decide on the rest of the community.
As CriptoNoticias reported, in May of last year the Block.One team decided to abandon its “silent” position within the community to participate in the voting. In this way, the project made its objective of providing a properly decentralized network even more complex.