EOS receives good news, BPAC to invest 100 % of its profits back into the ecosystem
EOS has been going through a bad time for quite a long time, and the recent announcement of Block Producer App Coalition (BPAC) comes as a sigh of relief to the blockchain. BPAC is a global alliance of EOS app developers announced that an elected block producer will invest 100 percent of its profits back into the ecosystem.
BPAC actually represents the stakeholder community of the EOS smart contract developers. Its five founding members include BLOCKv, a smart token protocol; WAX, a decentralized platform; SpringRole, a protocol for professional attestations; White Rabbit, an indexing platform and ICO discovery; and Workcoin, a decentralized platform for freelancers.
This sudden move by BPAC will make it the only block producer to reinvest all of its net proceeds back into the blockchain community through the creation and distribution of more robust developer tools. According to a press release published by Business Insider, “The top EOS block producers will generate significant profits, and we believe those profits should go back into the community,” said Reeve Collins, the founding member of the coalition and CEO of BLOCKv.
“As a block producer, BPAC is committed to reinvesting all of our net proceeds back into community development initiatives rather than putting them in our pockets, and we want token holders to know that by voting for BPAC, they’re supporting innovation in the EOS community as well as faster, global adoption of the blockchain,” Collins added.
BPAC, as a block producer will be working toward a number of initiatives within the developer community. It includes hackathons, conferences, app discovery tools, and other educational opportunities. It aims to promote a truly global vision for the blockchain by reinvesting on it.
BPAC Developer Conference
BPAC also have plans to host the first BPAC Developer Conference around mid-November 2018 in Los Angeles (LA). According to the report, the conference will be featuring the top EOS-based decentralized apps and also highlight the advantages of building on EOS. Also, it will be demonstrating the use of a robust developer toolkit making it easier to write to the blockchain and also educate the developers on the way to monetize decentralized autonomous applications (dApps).
“The conference will allow EOS developers from around the world to join remotely, and BPAC plans to follow this initial conference with further events held at locations around the globe starting next year,” said Collins.
Image via Shutterstock
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