China's Ministry of Industry and Information Technology Rank Steem #2 Blockchain Globally

in steemit •  6 months ago


Interesting point of this is that Ethereum was ranked #1 while Bitcoin was #13.

I have no doubt this is politically motivated coming from the Chinese government, but I found it most interesting that Steem was ranked #2, given its "relative" obscurity (read: flying under mainstream radar for the most part).

Any news organization would be wise to keep something like Steem away from their readers since its is a direct competitor to their business model, particularly if the @steemitblog roadmap comes to fruiting with Social Media Tokens on the horizon.

Admittedly, I didn't research the underlying methodology of this analysis, beyond their index rankings of Technology, Innovation, and Application, which are all relatively self-explanatory. I see Bitcoin as far more disruptive of a technology since it births the possibility for all the others to thrive. A Bitcoin is a far more dangerous technology to the power structure of the Chinese government than Ethereum, in my opinion. Perhaps they underestimate the potential of censorship-resistant news propagation to their citizens as well?


Chinese Link

English language article from CCN was not too pleased with the ranking of Bitcoin so low, or Ethereum at #1. They took special umbrage with Steemit being ranked #2, making the following assertion:

...Steem is not a base layer blockchain technology that can be used to create decentralized applications. Steem is a content distribution platform based on the blockchain with a primary purpose of distributing content. Essentially, Steem is like Reddit based on the decentralized blockchain.

I really hate it when journalists don't do their due diligence. Whatever.

My response:

Screenshot from 2018-05-17 11-42-54.png

So what are YOUR thoughts on these rankings? Steem deserves #2? Why didn't BitConnect make the list? Hmmmm....

image via

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You got a 25.44% upvote from @upmewhale courtesy of @blakemiles84!

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Maybe they see Steemit as a good idea to put social media on the blockchain but they aren't very worried about Steem because 90% of the steem power is held by only a 100 or so users. The sharing of information on steemit is decentralized but rewarding folks that share that information is very centralized. It's still way better than Facebook or Twitter.

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