Block.One wants to create crypto Twitter?

Has Handelsblatt let the cat out of Block.One’s bag?

The German biz paper reported today that the EOS developer is to announce tomorrow the launch of a new social medium platform to rival Twitter. It’s a persistent rumor in crypto and financial circles on both sides of the Atlantic, sources told Decrypt.

Quoting “financial insiders,” Handelsblatt reports that the new platform will be co-founded by EOS blockchain development company, Peter Thiel-backed Block.One, and German FinTech and biotech investor Christian Angermayer.

Neither Thiel nor Angermayer immediately responded to Decrypt’s request for comment. And Block.One declined to offer any additional details.

Handelsblatt reports that users of Block.One’s new platform will be compensated for posts and likes, paid for out of advertising revenue.

The German outlet suggests that the firm’s new platform will have features akin to Facebook and Instagram, while offering users direct involvement by means of a token. In all likelihood, EOS would serve as its launchpad.

Cayman Islands-registered Block.One acts as a crypto-based venture capital firm, fostering startup development on the EOS blockchain, in which it holds a 10 percent stake.

It’s co-founded by Brendan Blumer and BitShares cryptocurrency creator, Daniel Larimer, with backing from PayPal billionaire Thiel and major VC firm Blockchain Capital, among others. 

EOS co-founder and crypto celebrity Brock Pierce has been promoting a big announcement from the company.

When pressed for comment, this is what he sent:

For more concrete elaboration, Block.One is asking interested parties to forsake their Saturday night activities and tune in at 8pm EST. 

Handelsblatt may have just saved us all the trouble. But they could be wrong. Perhaps it’s something else altogether. Did somebody say Facebook?

With additional reporting by Ben Munster and Tim Copeland.