There are many unique opportunities for the World Bank right now, but ending poverty is a goal that is shared amongst other blockchain platforms too. Over time, the EOS.io platform for blockchain has very quickly become one of the most promising blockchain architectures around. Blockchain technology explained how useful it had become for banks and the World Bank in 2018’s blog post notes that since EOS technology is still rather nascent — they don’t have plenty of recommendations about how to use it for international development. Our article on this website is all about the World Bank who is currently in communication with governments, standard-setting bodies, stakeholders, and central banks to monitor, pilot, and research applications based on new blockchain technology.
Blockchain Investment and Technology
The speed of technology has been moving very quickly; for instance, since EOS’s launch in 2018, it has quickly risen to number one in terms of global blockchain activity. At the same time, the World Bank’s CEO and her team have been recognizing blockchain tech’s vast importance and utility. They all understand its significance and believe in EOS’s power in particular — this will have a significant effect on one mechanism of governance to deliver freedom and greater economic opportunities to many people all over the world. EOS will help voting and democracy in general.
EOS nodes that earn more votes are paid more money. The democratic system of EOS allows people with coins to cast votes on companies that run the network known as “producers” or “nodes.” The top 21 vote earners known as “block producers” also dictate any priorities in terms of EOS platform development via voting mechanisms. A coin holder of EOS participates in a continuous voting system, available 24/7, with hundreds of different companies taking part worldwide and many coin holders to choose from. A lot of these companies are also in poor areas.
EOS also has proxy voters. These people, entities or groups can poll on behalf of other coin holders, allowing them to stake a vote to a proxy voter. The idea behind this is that the latter will vote for things that most coin holders will value. With all the current digital architecture in place, in the future there will hopefully be an in-person auditing process, applied by a proxy voting team member — in the way that things work right now, there isn’t really a “formal” process for auditing applied.
Blockchain Explained — the World Bank and Poverty
Currently, the World Bank is at the top of the EOS proxy voters list. If they were to purchase $1Bn of EOS currency at today’s price (approximately $5), they would become the greatest voting company on this blockchain, with a lot more power to vote. By doing this, they could command a lot of influence voting to lift promising groups that are located in poor and developing nations. EOS nodes that are able to command more votes will be paid more. The World Bank could retain all of their EOS coins by polling in this way — it would allow them to effectively deliver economic prosperity to those who need it, which would be consistent with their mission to end global poverty.
When the World Bank proxies an EOS investment to themselves, this will make them the biggest EOS voting group worldwide. Any other cryptocurrency holder of EOS could then follow suit. With the World Bank’s leadership, many EOS holders could impact on ecosystem-wide behaviors dramatically and reward people who would best be able to demonstrate ways of stopping global poverty whilst also managing to stimulate economic prosperity in countries that require the most support.
The World Bank, as a proxy voter in the EOS system, could in theory rapidly lift organizations such as EOS Nairobi into the top block producers for EOS, thus dramatically increasing their compensation. This would also grant this company special rights to be able to participate in polling over decisions that change the platform. With the issue of empowering women being so important in today’s society, proxy votes from the World Bank could dramatically enrich compensation rewards received by ShEOS node service providers who are “all women.”
It is likely that the cost of EOS cryptocurrency will increase over the following months, potentially skyrocketing over the course of this year. This will happen as many more decentralized apps will be launched, having a global effect on society.
This is an exciting time for large entities who want to make a positive impact on the world to lead by their example, establishing their foothold on the world’s Internet for the future. If investments in EOS blockchain technology deliver outperformance and financial gain from appreciations in EOS cryptocurrency prices, the World Bank could maintain the position as the dominant influencers on EOS cryptocurrency. This organization could also distribute all gains to countries where funding is needed for technology development through EOS VC or via the World Bank venture capital efforts.
Blockchain Technology Changing Things for the Better
Prices of EOS are on the rise and more likely to increase as time goes on. It’s important that the World Bank entity takes this opportunity on board to alleviate world poverty. If they can do this and establish themselves as global leaders of cryptocurrency technology, the future looks bright for all of us.
Are you on board with the blockchain revolution? What impact do you think blockchain companies and blockchain startups will have in the future? We’d love to hear more from you — please send us comments below.