Steemit is one of the most creative projects to come out of the blockchain craze of 2016 and 2017. The idea of enabling creators to monetize their written content is brilliant and definitely something only native internet money system could achieve.
In a nutshell, bloggers, photographers, videographers, musicians, and other types of artistic people can start posting their work on Steemit, enjoy some social media functionalities that resemble Reddit’s, and earn STEEM tokens for their contributions. The ecosystem is really neat, but lacks the type of user experience friendliness that other big platforms have. Some may find something romantic and akin to the early days of the internet, but many users won’t find appeal in something that requires a learning curve and a lesser intuitive transition from Facebook. WordPress, or Reddit.
In spite of its good ideas and interesting innovations, the Steemit social network hasn’t managed to get the kind of traction and mainstream success to which it aimed. A mix of early exuberant enthusiasm, an unclear vision of what the project should be, the persistent nature of the bear market which ravaged financial plans, and some poor decisions are some reasons that led to a crisis situation: according to TechCrunch, 70% of the staff has been laid off in November 2018.
About the interview with Elizabeth Powell
Managing Director Elizabeth Powell is one of the people in charge of making the Steemit project both financially sustainable and friendly for content creators. As you are about to find out in this hour-long interview, the platform has become more efficient in terms of setting priorities and managing finances, and the future success of Steemit depends on multiple factors: working on development to improve existing software implementations (such as the phone app eSteem), creating more wallet solutions to move the rewards off the platform (like the dedicated community-developed wallet called SteemWallet), inviting more artists and tailoring the user experience to accustom their needs, and adding the STEEM token to more exchanges to make sure that rewards have increased real-work use.
There is no pattern or clearly-established way to achieve mainstream success with a blockchain-powered open-source project like Steem, but there is definitely some potential to further empower content creators to be independent. Bloggers and photographers can make use of the Steemit platform, video creators can switch from YouTube to Dtube, and Utopian facilitates open-source innovation. Video game fans can also play Digital Monsters, an interesting take on card games and digital collectibles.
Find out more about these topics and many more aspects which concern the Steem blockchain and the STEEM token by watching this exclusive Crypto Insider interview.
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