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There are many major cities in the GMT time zone and in the GMT+1 times zone (Daylight Saving Time). This time ball was a large painted sphere that was dropped at predetermined times to gold and bond yields link explained 2021<\/a> give ship navigators an opportunity to calibrate their chronometers at sea. A modern day example of such a time ball is the iconic Times Square Ball that has been used every New Year\u2019s Eve since 1907 in New York City to signal the onset of the New Year. Today there are still sixty time balls to be found around the world, though most of them have been decommissioned. As the reference for GMT, the Prime Meridian at Greenwich therefore became the centre of world time and the basis for the global system of time zones.<\/p>\n<\/p>\n