Sunday, the 16th of october 2016, Oslo Norway, Ned Scot is giving a, live streamed, morning seminar. A SteemIt Incorporated CEO attending the Oslo SteemIt Hackathon. And he layed out a possible roadmap for SteemIt. And there was a creative exchange of ideas with the SteemIt developers who were there that morning.
Some things really are going to make a big change for the future of SteemIt. And it seems that the competition really started to notice the platform recently. Where SteemIt links are kept from trending. But you may allready have noticed some giant social media platform deciding what to view for you...
SteemIt foundation
This might come as a surprise to you, but in the near future SteemIt may become a non-profit entity. Resulting in one or more foundations that focus on the developement of Steem on Graphine(2.0) and the SteemIt website.
Open source and non-profit at it's core.
Steem payed Advertising
Recently some Steemers and I were celebrating the lack of advertisement at SteemIt dot com. But during the seminar Ned announced... Advertising. With the suggestion of it being delicate and tastefull. Though still an idea, it made me shake my head: oh no. Not with those creepy ads at the bottom that make you wonder what the fog it is doing there.
Following the reasoning it will give value to Steem. One point being that advertisement needs to be payed for in Steem. And part of this revenue could be used for covering the running costs of SteemIt dot com and the foundations. This makes sense. And I really hope that it will be done in a way that the SteemIt experience is the same. Meaning just as fast and smooth, with a clear distinction between content and advertising.
What could be a plus side for you and me as Steemers (great to hear Ned using it) is the effect on the value of Steem. Because this income from advertisements could be used for 'burning' Steem. Or as payments to all Steemers, as we all are VEST stakeholders.
Maybe you are unfamiliair with 'burning' a coin. It might seem a kind of weird. It actually means destroying some of the coins available. This is done by sending it into void. Like it is done with post promotion. And in a sense with accounts that cannot login anymore.
In effect this will lower the amount of Steem on the market. Making it more scarse, what could give a rise in value. And thus making Steem holders, like you and me more happy.
Attention economy
Why would we need more accounts at SteemIt? Well, part of the succes of this platform depends on attention, that is the competition in the realm of Social Media. The platform that gets the most attention will grow in value. This might be pure social, like activism, liberty thoughts and so on. And an economical value can be added to it. It could attract advertisers who have to get Steem to buy ad space, that benefits all Steemers, the community and the foundations.
More accounts means more variation in posts, making the whole plaform more diverse and so on. That is a different type of economy, fueled by attention. And if you are a Steemer, you are part of the future unfolding.
We are the Steem, centralising is futile
Yes, that could be a cool meme, will you create it? It also tells something about the essence of our community. Those who have an account are also shareholders. It differs from huge companies that own and control data. One of the biggest Social Media companies actively filters what it wants you to see. And it does not help putting something on your status, where you claim nobody owns your data. Well, it does anyway. By using their service you agree to it. How free is that?
SteemIt is different and it is very important that it decentralizes it's data, the blockchain, as much as possible. All over the world so no roque entity can even think about trying to control it.
Being a decentralized and freedom movement loving platform it could well be that it acts as a magnet. Where also mind like advertisers will join in. All without centralized control. Or advertisers getting control over content.
Voting guild and Steem Power voting
At one point, almost at the end of the seminar I thought I saw Ned almost lose a bit of his cool. The Steem Power voting is a sensitive subject. It seems like a real dilema. There is a risk of an oligarchy forming, because those who hold the most Steem Power can control voting. And thus control potential payout. This is still a challenge.
It seems that it cannot be fixed on a blockchain level. Making it impossible to create thousands of 'zombie' accounts seems not an option. Now, others and I have come up with solutions that would stop 'zombie' bot networks from Sybil attacks. Mandatory posting, before voting, voting strength that works like a capacitor. And there will be more ideas that could help.
But it seems Steem Power voting, allthough it could be used for flag attacks and removing potential payouts, is still prefered by the developement team. And for Steemers like me, who question the dominance of Steem Power voting, it seems the best thing to do here is to keep an open mind.
One thing that will be done to change this centralized voting power is by creating Steem voting Guilds. A way to delegate voting power. This could be implemented soon.
Splitting the Social and Economical
This will be a visible thing that will have an influence on our mindset. SteemIt as a free decentralized social media platform on a blockchain. So, the amount of votes could be seen disconnected from the potential payout. Creating a different focus. And l would like to see the US Dollar symbol get lost. Because I rather see the potential payout in Steem. That makes more sense to me, actually. It's logic, and fellow 'SteemFest' Steemer Roeland allready proposed a useable unicode symbol for it.
There is more to come in Beta
A more user friendly editor. Notifications and a profile page with a personal touch. For those who use the eSteem app this is allready something they are familiair with.
And there is probably more to tell about the future of SteemIt. But then I would maybe ask too much time of your attention span. Anyway, new developements and exciting times ahead. And my guess is that Ned will have something special to announce at @steemfest... Luckily there will be a livestream so I can follow the event.
Have a good one!
pixlrd photo cc-by-sa @oaldamster
This is a 50-50 payout post