Steemit Founder and CEO Ned Scott Explains the Reason for Creating ‘Steemit’
Today, Ned Scott, CEO and co-founder of Steemit, huge name in the world of cryptoeconomy, the man behind the platform that pays you to provide content.
Ned also has a background as a Business operations and financial analyst and propelled this social platform to a new level.
It’s an interesting story, how did Ned Scott inspire to create Steemit?
As reported by Coinreport.net, Ned Scott elaborates what prompted Dan and him to create Steemit?
“Dan and I are similar in that we are motivated by the idea that we can improve the way of life for others. The state of Internet communities is imperfect – among the sometimes great content, there are also trolls, less than helpful comments and poor dialogue – so there was definitely a problem to solve there in the context of social media.
However, when the idea of Steem and Steemit really began to form we had been exploring several different blockchain-based business models.” Said Ned.
“We were looking at micro insurance on the blockchain and a few other ideas, but ultimately, we kept coming back to the idea that the most useful and powerful thing to leverage around a cryptocurrency is a community. "
""Steem was born out of ideas about insurance and mutual aid: it was the idea that people would be able to help each other peer-to-peer if they were struggling to solve problems or needed assistance. "
"It quickly grew into a much larger vision and Steemit was born as a place where individuals get rewarded by a community for posting and voting on content.” Ned added.
How did they come together to found the company?
“I learned of Dan about two and a half years ago, which was about eight months after I stumbled upon Bitcoin. I had been down the rabbit hole learning Bitcoin when I came across Dan’s work on the Bitshares project, and from there, blockchain really seemed to take up all of my time. In mid-2015, I began moonlighting for Dan, bringing his technology to different firms in New York."
"When 2016 arrived, I made my first trip to meet Dan in person and we had a good match in personalities. The ideas for Steem had just started forming and from there we put a real business plan together and co-founded Steemit.” Said Ned.
If you enjoyed this post please Upvote, Resteem and Follow @futureentech for more creative and informative articles...
I think steem is a potential market which provide a lots of chance for people to post and get money. Howeve, there is a concern that with more and more people using steem , the steem will expand, which may cause the massive devaluation...
I think expansion of Steemit community with a common goal, will help others by way of virtual currency and valuable comments wouldn't hamper it and devalue going forward.
As wonderful people like you are joining in to Steemit, it's going to surpass all the present social networks across the globe and will inspire other platforms to follow Steemit!
Thanks for your comment....
strongly agree on that..
I agreed on that.
A bit explanation of how Steemit works on blocking hoax spreading by no good peoples, will be very good.
That the most problems in social media today.
it will not devalue if it is limited in supply
P.S get into the crypro game with cloud mining genesis mining http://bit.ly/2sY44Vg
use this code for discount 5ZEQWb
Agree 100%!
More people using a currency doesn't devalue it. It would only devalue it if the reward pool increased faster than the user-base.
haha I feel like an idiot. I saw his account and didnt realize who he was. I was like damn 10mil steem and hes not even using his account....
Definitely agree that Steem is an amazing concept and company, but not sure with how much they're paying people out will affect the valuation of it. I can see it being $10 in a year or 2..but $100?! Don't think we'll ever see that...Steem would be half the size of Apple....😬
Cryptocurrencies are in a huge bubble so it's possible I guess. Steem being $100 would be only the third cryptocurrency :D. Thouhg obviously it won't reach this anytime soon.
followed and upvoted ... 💯 💯 💯
Thanks for sharing the story behind the story!
Thank you Scott. Your creation Steemit a Great Success. Community Help a patient for its medical Aids. Steemit is now Fourth largest social networking community in terms of member, But in terms of Value creation for its customer Steemit is the best. Steemit make all its members a successful person.
Cheers For Steemit.
lucky they did not go for micro insurance and stayed on in creating steemit . we are surely going to be hearing about them more and more
So glad they built Steemit. I love this community.
Love, Love, Love this community. I'm a month into joining Steemit, and learning new things everyday. This is my new "Go To" for social media. I'm excited to see where this goes.
MY friend told me nothing is secure .......not even STEEMIT is it true??
It is applicable to all technology....study and take a call....
take a call?????
Hi Vickykumar...In every field in our life..we always need to study and understand the system even for safe banking system..For social community like Steemit, its an emerging cryprocurrency and has a tremoundous growth potential if we see the record of last one year...
Personally, I have a faith in this community and sharing the contents...
Thanks
Kamlesh Jolapara
www.FutureEnTech.com