The true innovative power of Steemit
Hi there,
my brand new free-of-charge Steemit account has just been approved! And to inform all aspiring Steemit users, the whole process from sign-up, to email and phone number validation, until account approval, roughly took about 50 hours in total.
My background
About myself: I'm a serial entrepreneur actively engaging in multiple (mostly) IT-related ventures. My personal level of expertise includes strategic thinking, causal reasoning, full stack software development, negotiation techniques, sales, digital media creation and civil law, which - I guess - is quite of an odd-looking combination but it's me! I hold a Masters Degree in Science (engineering). And I believe in being a good person: helping others equals helping yourself and feeling great.
I have a vast interest in new / developing trends in many areas and lately I've been reading up and reasoning about crypto assets and the FinTech Industry. That's also how I found out about Steem and Steemit as a platform.
The true innovative power of Steem and Steemit
Regarding the theory of Diffusion of Innovations by Everett Rogers, let's look at crypto assets: the total amount of Bitcoin wallets is still only a fraction of the global population. The global market capitalization of crypto assets as of now equals roughly 170 billion USD, which obviously is a lot, but it's also just a fraction of the global gold market cap currently worth about 7760 billion USD, and "narrow money" currently worth roughly 28600 billion USD. The phenomenon of crypto assets as a whole must reach a critical mass of user adoption in order to self-sustain, but by which key metrics to measure the concept of "critical mass" is open for debate. Be it "market capitalization" or "user adoption", global adoption of crypto assets is still in the 0 to 2.5% percent range and therefore currently still to be considered as "innovation stage", I argue.
While Bitcoin (originally) can be seen as a new or alternative (potential) global cross-border currency, open for any world-citizen to use and transact with, pre-Steemit one would need (1) some amount of capital, and (2) a means to trade for and exchange into Bitcoin, in order to participate. However, a lack of capital and / or exchange possibilities seriously obstructs mass user and capital adoption.
Enter Steemit. Steemit allows anyone holding a validated Steemit account to convert time into Bitcoin. Of course one could also sell products or services (both in some way acquired by labor) in exchange for Bitcoin, but that still requires the buyer of those goods and services to own Bitcoin (or another crypto asset) in order to be able to transact or it requires an intermediary / exchange platform to convert fiat currency to Bitcoin. And that can be quite an obstacle to surpass, at least perceived from the point of view of mass adoption. That's not the case with Steemit: anyone holding an account can interact with the platform, acquire Steem (able to convert it into Bitcoin) without pre-owning Bitcoin, without pre-knowing Bitcoin owners, and even without prior knowledge about or access to Bitcoin exchange systems.
Steemit as a platform is therefore able to function as a crypto bridge and might therefore be able to help grow the world of crypto assets to get to the stage of "early adopters" or even "early majority", both in terms of user and market capitalization adoption. Let's see what the future brings and have fun in the meanwhile!
What do you think about this? Let me know!
To everyone: As I'm brand new on Steemit, I'm still learning how everything works. Please comment, upvote and follow along to let me learn and grow my network! Thanks!
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nice post . you are followed and your post upvoted THINKS
Thx @mouradbens ! I plan to write more of what I consider "high-quality" posts. To me it's not about fancy images, but how much "brain-effort" is put into a post.
Thx @mouradbens ! I plan to write more of what I consider "high-quality" posts. To me it's not about fancy images, but how much "brain-effort" is put into a post.
nice post . you are followed and your post upvoted THINKS
Hello @scipio
Welcome to the steemit family and that's a great post to begin your journey here.
But i think there's one issue i could help you with and that's: you don't need to beg people to upvote or follow you". That strategy doesn't really work on steemit and it pisses most whales and dolphins off.
Steemit is a gift economy and naturally you get back what you gift to others. If you read, upvote and drop a nice/insightful comment on other people's posts, they do same to you.
Check out this post i write sometimes back about to grow fast on steemit and make friends with whales
https://steemit.com/universityofgreatness/@bania/ep-6-university-of-greatness-how-to-become-great-on-steemit-without-pissing-off-a-whale-how-to-become-a-whale-without-pissing
It's not begging @bania, I just told you to feel free about following me. And of course that means you're free to not follow me. Just do as you please, no pun intended! Thanks for the article about not pissing people off. Because I'm an all-round friendly person!
Alright bro, no problem
Thank you @scipio for sharing! Let's watch it together!
Thank you too Olga! Just wondering, did you try to follow me already or was there a network hickup? I still don't see you in my followers list!