Steeming and Dreaming ...

Ever since I started learning and understanding about Bitcoin and Blockchain technologies, I’ve been endlessly fascinated. These technologies have the potential to open up new ways of building things on the internet.

Users have powered social media platforms like Facebook, Twitter, Instagram and Reddit. These media platforms have derived value by the content created by users on the platform and had no way to reward the users for their contribution. For the first time, Blockchain technology opens up opportunities to reward the users for their contribution. This opens up news ways of building media platforms.

Steemit is a decentralized platform that rewards all the stakeholders. It will be a game changer if it takes off. Watching Steemit gives me a sense of how the future social media applications could be built and also the potential of DAO (distributed autonomous organizations). Steemit could empower and enrich good content creators. It could reward great blog post writers, journalist, etc. who were trying very hard to get the content rewarded. It could open up opportunities for many content creators in unimaginable ways.

Steemit is an experiment and at an early stage and has along way to go. I hope steemit takes off in a big way and goes on to become the first mainstream social media platform built on Blockchain.