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RE: CZ of Binance is talking about Steem and he doesn't even know it
Steemit has had 4+ years to show the world its not up to the challenge. Regardless what 'social media platform' means in this context.
As we have all learned it takes much longer to build on blockchains than most would like. Scaling is a major issue that still hasn't really been solved by anyone. The back-end upgrades steem made recently help, and likely position it better than most, but it's still not an end all be all solution.