The EOS Foundation wants to distance itself from Blockchain’s ICO supporter Block.one. The CEO of the EOS Foundation made explosive statements for the altcoin.
- Yves La Rose, CEO of the EOS Foundation, spoke about the failures of Blockchain.
- He attributed much of EOS’ poor performance to Blockchain’s ICO backer, Block.one.
- Rose also revealed a new roadmap to help EOS rebuild its reputation.
Yves La Rose, CEO of the EOS Foundation, addressed the poor performance of EOS by drawing a new roadmap. Rose put most of the blame on Blockchain’s ICO backer, Block.one. cryptocoin.com We have compiled the details for you, let’s examine the subject together…
CEO of EOS Foundation: Altcoin is a disastrous investment in its current state
EOS wants to rebuild its reputation. Yves La Rose, CEO of the EOS Foundation, spoke with the EOS community at a virtual event on Wednesday and touched on the project’s poor performance since the ICO in 2017. Addressing the failure, Rose said, “EOS is a failure as it is,” blaming Blockchain’s ICO backer, Block.one. Virginia-based software company Block.one helped launch EOS in 2017, raising $4 billion in public sales of the EOS token, which was a record for an ICO at the time. However, according to Rose, the success of the ICO was due to Block.one over-promising on future commitments.
Noting that the conflict of interest between Block.one shareholders and EOS token holders also dragged down EOS, he said, “Block.one has knowingly misrepresented its capabilities and this amounts to negligence and fraud.” Thanks to Rose’s leadership, the EOS Foundation wants to implement a new roadmap to move EOS away from Block.one and help rebuild Blockchain’s reputation. Yves La Rose, CEO of the EOS Foundation, continued with the following important statements: “In my opinion, EOS is a disastrous investment in its current state.”
The EOS Foundation has created four working groups
The EOS Foundation established four working groups to address key areas for improvement. Although the names of these groups have not been finalized yet, Rose explained that they will work on the controls, wallet, documents and API for the EOS Blockchain. Additionally, the EOS Foundation will continue to allocate funds to the teams that build the EOS ecosystem. Rose also had this to say about EOS’ marketing and brand strategy:
EOS now has what it takes to effectively market itself internally and more importantly externally, leveraging the EOS Network Foundation as a central point of contact. We work with global marketing and branding firms to guide us and position EOS towards a better and brighter future.
Attempting to remove EOS from Block.one may cause problems in the future
Since the EOS ICO at the end of 2017, the altcoin has struggled compared to other similar assets. Bearish events such as the resignation of Block.one CEO Dan Larimer have put additional downward pressure on the price. The EOS Foundation’s attempt to move EOS away from Block.one could cause problems in the future. In May, Block.one announced plans for a new cryptocurrency exchange called Bullish on EOS, backed by prominent investors Peter Thiel, Alan Howard, and Mike Novogratz. It is not yet clear how the EOS Foundation will manage this issue in line with its new vision.
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