Block.one (B1) is a blockchain software company, co-founded in 2016 by Brendan Blumer and Dan Larimer. It is known for developing EOS.IO, a blockchain platform designed for decentralized applications. The firm also invests across cybersecurity, augmented reality, big data, climate tech, cryptocurrency/blockchain, digital health, fintech, gaming, health tech, impact investing, infrastructure, SaaS, virtual reality, esports, artificial intelligence, and machine learning sectors.
In 2017, Brendan Blumer met Dan Larimer and started working together on Block.one. Brendan, as B1's CEO, worked on developing the company's core technology, products, and services, building strategic partnerships, and expanding into new markets. Whereas, on January 10, 2021, B1 announced that Daniel Larimer, CTO at Block.one, has departed to pursue new personal projects.
B1 is a publisher of decentralized applications as well as open-source software where the dApps can be built on top of the EOS blockchain. It also began offering EOS tokens in June 2017 to the public, raising over $4 billion during its ICO.
B1 is the originator of EOSIO, the open-source blockchain software that provides developers and businesses with the tools to build the infrastructure. Block.one holds a minority voting right as it is in possession of 10 percent of the EOS initial digital token allocation that resulted from the creation of the EOS blockchain's genesis block.
Block.one released version 1.0 of open-source EOSIO blockchain software on June 1, 2018. This software enabled businesses to rapidly build and deploy high-performance and high-security blockchain-based applications.
EOSIO was designed to operate in environments without any tokens where system administrators allocate potentially unlimited resource quotas to users. Alternatively, smart contracts can allocate resource quotas by other means, such as token staking, market fees, or voting. 
VC Awards Grant
On March 18, 2021, Block.one’s EOS VC awarded a $631,000 grant to EOS Nation and EOS Asia to create and launch a platform on the EOS Public Blockchain that encourages and funds open-source software development for EOSIO-based blockchains including the EOS Public Blockchain.
Voting in EOS Community
In Delegated-Proof-of-Stake, voting for Block Producer candidates is fundamental to both aligning the interests of token holders with network operators and securing the network itself. This voting process within the EOS community was announced on May 14, 2020.
The organizations qualified as block producer candidates on the EOS public blockchain were recognized not only for their consistent and smooth network operations but also for the numerous open-source developer and user tools they provide. The community aimed to vote for candidates in a rotational manner, with no limit on the total number of candidates they could vote for over time. Initially, they voted with 10 million EOS tokens.
On October 18, 2018, B1 released Elemental Battles, a free online game-based tutorial, to encourage more developers to adopt blockchain and EOSIO. The learning toolkit consists of an eight-lesson blockchain tutorial and a demo of a fully functioning blockchain-powered card game.
Elemental Battles aims to encourage the adoption of blockchain technology and on-board a new generation of blockchain developers by simplifying the developer experience and making the technology more user-friendly.
Voice, the decentralized media network was developed by B1, in June 2019.  Voice tokens were rewarded for different forms of engagement, aligning the interests of users, content creators, and advertisers. Voice established a new economic model, where selling personal data and targeted ads came at the expense of users. It launched a public beta on February 14, 2020.
Through strategic capital allocation and pioneering business ventures, B1 has funded more than 100 innovative businesses, including Bullish, a digital asset exchange, also a sub-organization of B1, in 2021. It is a technology company focused on developing financial services for the digital assets sector.
Bullish Global, with additional support from investors like Michael Novogratz and Peter Thiel, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer, and Nomura, was formed and announced as the new subsidiary of B1 in 2021.
Its cryptocurrency trading platform, named Bullish, was made available to users on December 21, 2021, and was designed to operate on a blockchain so that it could provide the benefits of decentralized finance, like privacy and auditability, along with a central limit order book. The exchange utilizes the EOS.IO protocol and the EOS Public Blockchain to produce a cryptographically validated, provable, and immutable audit trail of all transactions processed on the Bullish platform.
B1 Settlement with SEC
According to the SEC’s order, Block.one, which has operations in Virginia and Hong Kong, conducted an ICO between June 2017 and June 2018. The order finds that Block.one stated it would use the capital raised in the ICO for general expenses, and also to develop software and promote blockchains based on that software. Block.one’s offer and sale of 900 million tokens began shortly before the SEC released the DAO Report of Investigation and continued for nearly a year after the report’s publication, eventually raising several billion dollars worth of digital assets globally, including a portion from US investors. Block.one did not register its ICO as a securities offering pursuant to the federal securities laws, nor did it qualify for or seek an exemption from the registration requirements.
On September 30, 2019, the SEC announced settled charges against blockchain technology company, Block.one for conducting an unregistered initial coin offering of digital tokens(EOS tokens) that raised the equivalent of several billion dollars(about, $4 billion) over approximately one year. Over the course of a year, Block.One sold ERC-20 tokens with the expectation they could later be exchanged for EOS tokens. Block.One raised 7.12 million Ether worth $4.1 billion in exchange for 900 million ERC-20 tokens. The company agreed to settle the charges by paying a $24 million civil penalty, due to its violation of the registration provisions of the federal securities laws. Block.one consented to the order without admitting or denying its findings.
The SEC has simultaneously granted Block.one an important waiver so that Block.one would not be subject to certain ongoing restrictions that would usually apply with settlements of the type.
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