Good News for EOS as BPAC Plows Back 100% of Its Profits to the System
EOS can now breathe a sigh of relieve following the announcement of Block Producer App Coalition (BPAC) that they will be reinvesting 100% of their profits. This announcement comes just at the right time as EOS has been going through challenges for quite a long time.
BPAC is a coalition of EOS app developers. It represents EOS smart contract developers’ stakeholder community. Its members include smart token protocol BLOCKv, protocol for professional attestations SpringRole, WAX, which is a decentralized platform, an indexing platform and ICO discovery called White Rabbit, and a decentralized platform for freelancers Workcoin.
The move by BPAC makes it the only block producer that will have ploughed back all its net profits back into the platform by creating and distributing more and better developer tools. A press release from Business Insider Reeve Collins, one of the founder member of blockchain coalition and the Chief Executive Officer (CEO) of BLOCKv, top EOS block producers are set to generate good profits which the block communities should be give back to the communities.
Collins further added that BPAC, as a block Producer focusses on reinvesting all of its net profit for community development. He assures token holders that they would be supporting innovation in the EOS community and foster faster global adoption of the blockchain technology if the stakeholders vote for BPAC.
As a block producer, BPAC aims to contribute towards some initiatives in the developer community. These initiatives include conferences, hackathons, app discovery tools as well as other educational applications and opportunities. It will also, by reinvesting its net profit back into the community, help create global awareness for blockchain technology.
BPAC Developer Conference
BPAC has plans to host the first ever Developer Conference later this year around mid-November in Los Angeles. The conference according to reports aims at highlighting and enlightening the community on the advantages of building apps on EOS. It will also feature top EOS-based decentralized apps and demonstrate how robust developer toolkit should be used to make it easier to write on the blockchain. Furthermore, the organizers will educate developers on how to make money out of their Dapps (Decentralized applications).
Collins said that this in addition to allowing developers around the globe to join the event remotely, BPAC will also follow up this event with more like this in different locations around the world.