EOS is serving the Underserved Communities of the World
Just another week in the world of cryptocurrency, and if you have been here for any length of time, you know it's in the pullbacks that we truly discover the projects that have real staying power, versus crypto projects that are here today and will be gone tomorrow. It's times like these that I think it's healthy to do a bit of introspection, and genuinely ask ourselves a few key questions about our true motives, such as why we are truly here in the world of cryptocurrency. Is it truly to change the world as so many often boast of reflexively, or is it simply to become the next crypto millionaire, or a bit of both? No judgement regardless of your motives, but I think it's necessary to be honest with oneself at the very least if one hopes to achieve their future goals. I myself have done this introspection recently, which leads me to the reason why I am involved in the promotion of the EOS main-net blockchain, because to be quite honest I believe it is a project that is helping usher in the maximum amount of good, not only for the crypto world, but also often overlooked communities. In this video I will be going over a proposal I recently read called “EOS Block Producer Candidacy by the Prospector Team and EOS Micro Loan Team” and I will be giving you my opinion on what I think of this proposal, OK now let's get started.
To summarize and paraphrase, this proposal first begins with, since the outset, we have been supporters of EOS and EOS-IO. With the Prospectors Game, our team was one of the first dapp developers, demonstrating the versatility and power of EOS and EOS-IO. When the game was released, many of EOS account members flocked to it. Our team launched EOS Micro Loan in March 2020, EOS Market Place , and Cryptominder in June 2021 over the last two years.
We launched a movement called Hu-Fi, or human-generated finance, using EOS Micro Loan and EOS Market Place. The social movement's mission statement was to enable everyone to generate their own cash. Jekyll Island: The Truth Behind the Federal Reserve, produced by the Hu-Fi movement's creator, is a documentary about monetary policy. The film demonstrates how fractional reserve lending and national borrowing have been used to produce our liquidity.
When a bank lends $500,000.00 but only has $50,000.00 in reserves, it is known as fractional reserve lending. Inflation is created and winners are selected using the processes outlined above. What is the significance of this moment? Although the future appears promising, action is required. Hu-Fi is a blockchain-based procedure that allows anyone to create a fully-backed, interest-free loan. We've set a good example for others to follow. We've given out hundreds of microloans, 578 to be exact at the time of this writing.
The Hu-Fi movement was kick-started by these fully-backed, interest-free loans. It's vital to keep in mind that financing isn't our primary purpose. The idea is for everyone to be able to utilize the code to create their own liquidity by providing fully-backed, interest-free loans to others. What are the rewards for participating? On the EOS blockchain, Hu-Fi allows anyone to make a loan. The loan terms are discussed behind closed doors. The system ensures that all stakeholders are aware of the loan's activities, including the date it was created, payments made, and the outstanding balance.
It's worth noting that the loans are all denominated in dollars, yet they're all executed in EOS. This has turned out to be an excellent choice. For all sides, the dollar price provides consistency. The ability to cancel in EOS, at EOS pricing with a single click of a button ensures speed and fairness for both parties. It makes no difference how much EOS costs in the case below. The only thing that matters is that the borrower owes $15.00 and that the debt is paid with EOS.
We're turning the way liquidity is created on its head with Hu-Fi, and, more significantly, we're pointing in the direction of a lot more efficiency. The higher the demand for EOS to pay for the loans, the more individual liquidity is created. The more EOS is in demand, the higher the price will rise. We'd like to work as a paid BP so that we can help more people.
Please consider us, bppgl.mlt, as part of your chosen BPs for people who have proxies. Please use vote.mlt as a proxy for individuals who are unable to vote directly. This provides us more clout in terms of garnering votes and influencing how EOS is utilized. We're one of the few companies that converts EOS into tangible goods and services. Our employees are compensated in EOS, which they then use to buy goods and services. When the BP award claims are made, this indicates reduced selling pressure for fiat. We ask that you vote for bppgl.mlt to be a high-value block generator; we want EOS to be the best it can be.
Just my opinion, but first and foremost I fully support, and endorse this proposal, this is exactly why I originally got into cryptocurrency in the first place. Yes, I won't lie to you and tell you that financial incentive wasn’t a significant motivator, but for me personally it was not the only consideration. I personally truly desire to help usher in a more just financial system that creates more good, for more people, especially the underserved communities of the world. And yes, I know, it's become a bit of a buzz word to say that crypto will bank the unbanked. Yet, what does this truly mean, when mainline cryptos like Bitcoin and Ethereum have such high transaction fees that one transaction could potentially cost a lower economic status individual their life savings, is this truly what crypto is best used for? Increasing and price, and making earlier generations of hodlers richer? Or are we truly going to address these issues and concerns.
EOS main-net, and EOS-IO technology has truly been one of the only real leaps forward in addressing these issues in concerns. It simply is not realistic or practical to expect people to pay arguably hundreds of dollars and transaction fees to buy a cup of coffee. Yes, I know that's a bit hyperbolic, but I hope you get the point I'm trying to make here when I make a statement like that, the crypto world needs to get serious about addressing these issues, it can't always be about financial gain, or if it is, then how are we any different from the traditional financial world. I'll be the first to tell you that yes financial incentive and gains are important, after all you can have a desire to do all the good in the world but if you do not have the means in which to execute your desire, your ideals are little better than dreams that will be here today and gone tomorrow. But equally as important, is truly changing the world for the better, for not just ourselves but also our fellowmen, central reserve banking has been a plague for not just the first world, but also the third world, it’s time that we get serious about truly addressing the injustices that exist because of the creation of such a system. We can do better, and I personally truly believe that crypto will help address many of these issues, in EOS is just one of very few cryptocurrencies that are addressing these concerns now, and not in a hypothetical future. Which is why I personally consider myself a proud member of the EOS main-net community.
To all EOS holders, let's truly change the world.