Breaking: IBM to invest $270 million in Steemit Inc

Now this is an announcement Steemians - now all makes sense, the HF Twins, the new VP Marketing - Steemit will become the new Bitcoin I am sure!

Steemit Inc. and IBM Join Forces to Develop New Generation Blockchain Technology

Today the technology giant IBM and the New York-based Fintech announced their cooperation which includes a new funding by IBM of more than $270 million in multi-tranche Series B financing. The new funding will be used to invest in a bigger development team that will be creating 'native' Steemit apps for use on mobile iOS and Android as part of the 2017 roadmap. The rising fintech innovator recently appointed a new VP Marketing to support growth and brand awareness of the company and its infrastructure.

Ned Scott, CEO of Steemit Inc, said the company is now “moving rapidly” toward the development of the next generation blockchain technology. Scott explained: “2017 will be our banner year and with IBM we have a strong strategic partner that is confident in our strategy and is aware of the future importance of blockchain technology.”

Steemit recently migrated its servers to Amazon Web Services (AWS), the world's largest hosting provider. Steemit plugs into a robust blockchain database called Steem, which distributes rewards in cryptocurrency (digital points - Steem), with real value to the users who add best content to the Steemit community via articles, engaging via comments, creativity, images and videos.

IBM is strengthening its footprint in an emerging technology area. There was no official statement by IBM staff to date.