A “Wave” New World of Money

On January 3, 2009, a new form of money entered the world with the advent of Bitcoin. While its advancement has shown promise, this form of digital money is still in its infancy in terms of achieving widespread acceptance.

One global project that’s achieving great strides in overcoming the friction points hindering the mainstream adoption of cryptocurrency is Waves Platform. WAVES is a decentralized, blockchain centric platform, that can be utilized for trading and other forms of digital money transactions.

This ecosystem, created and launched in April 2016 by the Russian physicist Alexander Ivanov is fueled by a cryptocurrency of the same name — WAVES.

A key element is Waves continued acceleration forward is an incentive-based ecosystem known as Waves World. The Waves World Token is a reward given for value-based contributions to the community, or the leasing of the tokens to the Waves World node.

Alan Dubla

Here at What Is Money Project, we had a chance to catch up with Alan Dubla, Co-Founder and CEO and ask him about Waves World and the future of monetary, token-based incentives.

How did you get involved with WAVES?

Well, I’ve been involved with blockchain technology for several years now and in looking at various aspects of the technology to get involved with, we found that Waves was really an untapped giant.

Specifically, what was it about Waves that appealed to you?

They really embraced the little guy, so to speak. And as opposed to some of the other technologies and platforms, they had a lot of resources and folks in the community that wanted to help. In general, we found the Waves community to be very accepting, very open and excited to have folks within the United States help in bolstering their technology usage.

Can you provide an overview of Waves for those who are unfamiliar with it?

Sure. Waves is a blockchain platform for building things on top of. It is very similar to Ethereum and Bitcoin in the sense that you can take the Waves technology and really leverage highly technical aspects of it in more of a layman’s term kind of way.

Can you elaborate a bit more here?

Yes. For example, we are able to create tokens effortlessly and run nodes that utilize the Waves features and functionality in a very easy manner. So by taking advantage of many of the technical underpinnings that they’ve provided we’re able to kinda catapult forward so that we don’t have to reinvent the wheel.

What is Waves World?

Waves World is an incentive-based ecosystem that provides one with the opportunity to earn some extra Waves tokens and rewards through what is called “leasing.” One of the primary reasons for forming it was to come up with a system where we can simultaneously promote Waves, the blockchain space, and the usage of cryptocurrency and associated tokens.

And how does it work?

When a member runs a Waves node to participate in the community, they can set the node up in a way that allows others to loosely allocate their Waves balance to another person’s node. In the end, the more people that allocate their balance to Waves nodes through the leasing process, the more visible the ecosystem becomes and the more those folks earn.

And there’s an incentive component, correct?

Yes. With the Waves World system, we’ve created a mechanism where people can lease their Waves to the larger ecosystem allowing them to earn some rewards on the side through our Waves World token. They can receive these tokens for participating in the community, allowing them to access our webstore and purchase various items and some neat crypto swag.

Where do you see all of this headed in terms of blockchain platforms and specifically the digital currency aspect of it?

Well for a long time now I’ve referred to the blockchain industry as a great experiment. And as we saw with internet’s rapid growth in the 1990s, some things work and some things don’t. But you don’t really know until you try it, exercise it and really see how the theory works out in reality.

So what are you discovering?

I think we’re finding with distributed ledger technology, in general, is that like many websites in the 90s, it’s like placing a square peg in a round hole.

But in some cases, it probably fits rather well.

True. So as we move through this great experiment, I have no doubt that we will find numerous avenues where distributed and public ledger technology aides in the transparency of doing business as well as in facilitating the spread of technology into the hands of people who may not have a full computer at their disposal. When the great experiment works, it works beautifully and when it doesn’t we take note and we try something different.

So how do you respond to those who question whether cryptocurrency is real money?

That’s an interesting question because the whole concept of money seems to mean a lot of different things to a lot of different people.

When I look at cryptocurrency as money I get excited because I’ve been a technology person ever since I was a little guy. So to see the transparency that’s brought to this aspect of money is really exciting to me because I think when you can see through the veil of how commerce gets done, you can make better or more accurate judgments on where you want to spend your money and how you want to handle your obligations.

Final thoughts on what see on the horizon in terms of the evolution of Waves World?

As far as Waves World goes, we’re growing on a daily basis. We’re getting more people involved in the community and the incentives are getting better by the day. We’ve been working with folks around the world and the response has been incredible. It’s particularly heartwarming to see from a humanitarian and community sense a little effort on our part can have such a big impact worldwide.

So as we continue to develop Waves World and are able to increase the value of the incentives and the rewards, we’ll really be looking towards participating in more charitable aspects where we can bridge the gap between the virtual currency and the real-world impact that the currency brings in other areas of the globe