Potential Everipedia User Struggles to Deal With EOS’ Entry Barriers

  • A potential Everipedia user has been struggling to deal with EOS' entry barriers.
  • The potential user, on Reddit, revealed he was interested in the project but didn't know anything about blockchain technology.

Blockchain technology is finding its way into new applications every day, but entry barrier for most of these applications is still relatively high for the average user. Developers have made great strides to close this gap in recent years, but most blockchain platforms are still very intimidating to newcomers.

For example, Everipedia, the largest blockchain-based online encyclopedia, is a project that created excitement among people who don't even know what a “blockchain” is, but it seems they are having trouble figuring out how to contribute to the community.

As CryptoGlobe reported last month, Everipedia will be running on EOS.IO technology, and while no sign up is required to publish content or vote on Everipedia’s network, it does require users to have an EOS account and IQ tokens.

This process caused confusion for Redditor “willwrite4schlrshps,” who asked for help on the Everipedia subreddit.

I have no idea who or what a "block chain" is. However, I do know what an underrepresented minority in STEM is, and I'd love be invited so I can contribute to Everipedia by writing articles (plus, be eligible for the scholarship)! Thanks.

Moments later the redditor posted a follow-up question: “Okay, so I've made it to the new domain, and I've got the Scatter extension for Chrome. But Scatter is asking for my "key pair" and I have no idea what that is or how to generate one.”

Romiezzo, one of the moderators on the forum, posted the following response empathizing with the user’s frustration:

Unfortunately, registration on Everipedia.org is no longer available, as we've pushed our efforts towards creating our blockchain platform (iqnetwork.io). We understand that the process for the latter is a lot more rigorous right now, especially for someone who is not involved in crypto/the EOS community. However, because we are running on EOS, we believe it makes more sense to have people migrate to the IQ Network and start participating in the site's governance of content and technology.

In order to contribute to the online encyclopedia, a newcomer would have to go through many unfamiliar steps that involve spending money, submitting personal information and learning an entirely new technology. Since the initial post was made, there’s still no indication the new user was able to start contributing to Everipedia.

Everipedia and EOS both show potential, but as with any project in the blockchain space, including Bitcoin, there is still a long way to go before this technology is accessible to the average consumer.

While adoption has been slow it has been happening. As covered, leading crypto exchange Bitfinex is set to unveil an EOS-based decentralized exchange later this month, and HitBTC, another exchange, adopted EOS as a quote currency.

Facebook's Libra Is 'Currency for Corporations', Bitcoin Is 'for the People': CNBC

Joe Kernen, a former stockbroker and current co-anchor of CNBC’s “Squawk Box” show, has argued that fiat money is “currency for government” and Facebook’s Libra cryptocurrency is “currency for corporations.”

“Who Put Facebook In Charge of Giving Currency to the World?”

Kernen, a biology graduate from the University of Colorado, believes Bitcoin (BTC) is the only currency that has been specifically designed “for the people.” Commenting further on Facebook’s crypto project, Kernen remarked:

Facebook’s Libra Coin [initiative] looks like it’s all about the money. And, who put Facebook in charge of giving currency to the rest of the world? [It’s] just a social media site.

He further questioned the social media giant’s intentions and crypto-related plans by noting:

Why should they be the ones to dictate how digital currency works? Who anointed them? Of all [entities] to anoint, why Facebook with their [troubled] history?...They’d be the last [ones] I’d [put in charge of a project like this.]

Libra Coin A Threat to the US Dollar?

Michael Brendan Dougherty, the Senior Editor at the National Review Online, criticized world governments for not taking a harsher stance against Facebook’s Libra project. Notably, Dougherty believes the Libra Coin could potentially pose a threat to the USD, the world’s most dominant currency.

Dougherty, whose comments came during an episode of The Editors (a podcast managed by the National Review), also addressed other serious problems related to social media companies. The podcast covered sensitive issues such as giant firms like Facebook being required to prove that their content removal and promotion policies are “politically neutral.”

Going on to show his support for the American government while explaining the potential threat the Libra project might pose to the U.S. economy, Dougherty noted: 

The government’s appropriate response to an enormous, unaccountable spy agency that’s launching a currency that it wants to compete with the US dollar, is to nuke it from space.

Joseph Lubin, the founder of ConsenSys (a Brooklyn, New York-based development studio focused on the Ethereum (ETH) project), recently said that Facebook’s Libra is a “centralized wolf [disguised] in decentralized sheep’s clothing.”

Can Facebook Be Trusted with Financial Information?

Although Lubin acknowledged that Facebook may be able to hire skilled developers in order to ensure that its cryptocurrency is implemented properly, he questioned whether the social media giant should be trusted. The Ethereum Co-Founder remarked:

Don’t I need to trust Facebook and other intermediaries to trust Libra?

Lubin also seemed to be concerned about users’ financial privacy, as there are now many reports which confirm that Facebook has been making profits off its users’ personal data. Lubin noted:

What happens when you wrap your personal finances up in this, too? That our digital identity will never merge with Libra’s financial data is a hard perception to shake. It is almost a given, even if they have the best of intentions—“accidents” and incursions happen when relying on centralized architectures.