Can India Help Drive Steemit's Growth?
Steemit is growing!
Steemit is about to grow in a big way, and I would venture to say that India is about to help drive that growth.
A look at the latest stats on Alexa show a clear upward trajectory and trend for Steemit as a whole, and that's wonderful news! What's intriguing to me, however, is the fact that India already claims the #4 spot for the percent of visitors coming in at 4.7%. In the country, Steemit now ranks as the 2906th spot.
Why this is important is because the average income in India is far, far, far contrasted to that found in the other 4 countries listed on that list. Take a look at the chart below taken from the World Economic Forum for wage statistics in 2016 (https://www.weforum.org/agenda/2015/06/what-is-the-average-wage-around-the-world/):
- United States: $56,340
- United Kingdom: $41,192
- South Korea: $36,354
- Germany: $43,682
Somewhat similar, right? Now consider this article. (http://economictimes.indiatimes.com/news/economy/indicators/indias-per-capita-income-rises-7-4-to-rs-93293/articleshow/52524152.cms) The average wage in India has jumped to a whopping 93,293 INR. In today's USD, that equates to $1,447.30. So let's revisit that list:
- United States: $56,340
- United Kingdom: $41,192
- South Korea: $36,354
- Germany: $43,682
- India: $1,447
Get where I'm going with this?
It is sooo lucrative for an Indian citizen to participate in Steemit compared to his counterparts in Steemit's largest communities. The additional advantage of a SBD-USD peg and the fact that India is now undergoing a revolution in its telecommunications industry as the cost of 4G networks rapidly comes down (thanks to Reliance Jio), and we might have a open door that's about to be bust open.
Maybe it's time to invest in Steem...? Sounds like the growth is right around the corner.
If we suddenly get millions more users, presumably rewards per post and comment will decrease - right? (even though overall value of steem may rise?)
Yes India can help Steem grow!
Don't stop growing
Nice article
Thanks. As more and more Indians come online, I imagine this place will get real interesting. Surely many will buy steem power to establish themselves. This is especially since they're already an English-speaking nation, and will have a much easier time adopting.
When this offer of earn when posting, it attracts traffic to it, which is the number one point about the sustainability of any platform.