The Trojan horse called Steemit

Steemit as we all know was created in 2016 by @ned to be a decentralized platform in which users/members can share/post quality contents with the rest of the world and still get curated for it.

The above paragraph is common knowledge but the truth is most people don't really know why or how the idea of steemit was conceived.

Steemit was created as a trojan horse for the cryptocurrencies "steem" .

As Joe Lee who is the co-founder and cio of digital currency trading platform Magnr said,

Whether Steem succeeds as a digital currency will be more a reflection of Steemit’s success as a platform as opposed to the economics of the coin itself. This is a good example of a digital currency whose value will be closely affiliated to its utilitarian value as a social networking and sharing platform.

Steemit as the advanced social media platform we know it today, was meant to create hype and activity for "steem".

So the question is, has this objective been achieved?

I think the answer is obvious. The success of steem is now almost totally dependent on the success of steemit, as most transactions involving steem are done by users of steemit.

The bottom Line :

Steemit is a novel use case for blockchain technology - a decentralized social media platform that rewards users with its own digital currency.
And until we get it right here on steemit, the future is "steem" hangs in the balance