I read a post today which talked about Steem’s Coin Market Cap position today and another about our number six ranking on the Official Chinese Government Cryptocurrency Ranking of Cryptocurrency by a Chinese Government Division with expertise in Technology and Finance. These two divergent reports summarize our position in my mind. I feel we are an undervalued company or entity right now. I have needs here going on two years in a few months and read countless articles about the changes and advancement made here. While the Steemit economy is an evolving entity in its 22nd version in its steady pursuit of perfection, the Steem blockchain chain supports multiple successful decentralized applications, about 16 of them in the top 100 most utilized applications in all of Cryptocurrency!
If you step back and look at the growing utilization of Steemit and Splinterlands, Steemit formerly the most highly utilized decentralized applications in cryptocurrency, but now surpassed by Splinterlands. Now that Splinterlands has surpassed Steemit and become the top application in cryptocurrency land by transactional volume according to the Website “State of the Dapps”. Add to that Splinterlands Coin market cap just reached 16 million dollars USD in December. You have a very rosy outlook for the Steem Blockchain. But this isn’t the only great thing about Steem, Steem is about to under go a huge improvement in utility with three improvements on the Steem-Engine side chain. When we consider that Ethereum is the third ever Cryptocurrency, with Smart Contracts as one its most famous achievements, and the large number of a Dapps or decentralized applications running on its blockchain. It maintains its value mainly because like Bitcoin people think it has value, so it has value and because it has UTILITY! People have a need for the blockchain so they purchase Ethereum to conduct transaction. They purchase Ethereum because the Ethereum blockchain has utility. They are able to utilize the Ethereum blockchain by building Dapps which run on the Ethereum block. They are also able to Tokenize different projects and assets because Ethereum Tokens have made it through regulatory hurdles, they are recognized as securities and everyone knows the rules to follow to conduct business. This certainty encourages others to use the Ethereum blockchain and Ethereum Token.
Steem-Engine
The developers behind the Steem-Engine side chain used the white paper for SMT Tokens to create Steem-Engine Tokens.
These a Tokens like the previously envisioned and current a Tribe Tokens were created to allow people to Tokenize interest groups. People earn important group Tokens in these Tribes which allow them to sell the Tokens for Steem or to achieve dolphin, orca or whale status in these Token economies. There are currently three developments which are worthy of spreading the News of which and could propel Steem forward and attract investors and increase the value of the coin.
One is a change in the current DEX or Coin Exchange attached to Steem-Engine, the exchange is about to offer dollar and other fiat pairs for Steem and possibly other Steem Engine coins. This would provide a more direct route to Steem token ownership, simplifying the process immensely. Second this same DEX is preparing to start offering money transfer services similar to banks, which would allow cross border transfers of fiat instantaneously. The speed of Cryptocurrency transfers is astonishing and much, much faster then current bank money transfers. Lastly the DEX is finishing up and about to release NFT’s this week. This is an exciting development because NFT’s are unique Tokens which represent singular and unique assets, like personal identification documents, land titles, ownership papers for gold bars or ownership papers for works of art and land titles for real estate. The release of NFT’s signals the beginning of the possibility that people can execute smart contracts for multiple types of business transactions on the a Steem Engine side chain buy buying Steem Tokens. This opens the door for cross border purchases of land and goods instantaneously. Someone in China could buy assets in Spain in seconds by trading Chinese Fiat for Steem in China, while their counterparts Trades Spanish Fiat for Steem in Spain, they exchange Steem for the asset, then convert Steem back to the sellers native fiat. NFT tokens can also facilitate the purchase of clothing, armor, weapons or other special items in games allowing gamers in multiple countries to exchange their fiat for Steem, purchase the game items and transfer these items to their game wallet wear they can be equipped and used. These NFT Aldo allow Tokenization of the raising of capitol for business startups, real estate developments and other situations where capitol must be raised. As long as the Tokens are sold by someone licensed to sell securities in their country of origin and registers the security tokens properly with the appropriate government agency these sales can proceed legally. If you need more information about NFTs check out the updates on the blog of
I am very excited about the future of Steem and I think we should all be doing our part to promote our cryptocurrency.
I know there are people who feel Steemit Inc is responsible for all the advertising and public relations for Steem. But I feel that in this day and age the whole Steem community should use our millions of social media connections to get the word out about the good things going on here on the Steem blockchain. We all are content creators, but we can resteem posts and utilize our social media applications for something that benefits all of us, Steem!
This is the good news! Now what concrete steps can you take to create Buzz and spread the news about Steem?
First and most important: We need to stop expecting Steemit Inc to do more and we need to do more as a Community. We are a speck in a sea of nearly 2000 Cryptocurrency projects and a market cap ranking out of the top ten, top 20 and even out of the top 40. We need PR but we need to organically create by recommending the good Dapps on our blockchain like Splinterlands or Steemit or good frontend like Steemleo.
Second, we all need to utilize our existing networks on social media like Facebook to Promote Steem. A very important part of this suggestion is to recognize that we all can’t write good Promotional Pieces, as we all have different talents. But we can join the Steem Facebook Groups that are out there and post their Promotion content on our walls.
My concrete suggestions include;
Twitter, I am there now, joined primarily to Promote Steem and Network.
Facebook, we have a few a Facebook Group, I suggest we join them and their posts promoting Steem and Steemit will show up on our walls.
These are both centralized, so many don’t use them for philosophical reasons, but they are free tools we can use to educate the people in our Networks about Steem and all the Dapps here.
Let’s get out there and spread the Good News and create some excitement about Steem!
✍️ written by Shortsegments
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Shortsegments is a blogger or writer on the Steemit platform, a decentralized social media platform on a blockchain called Steem. In contrast to centralized platforms like Facebook, Instagram or YouTube the isn’t a central authority or owner to take your account away from you and your account can’t be deleted. You are the owner of your account. Find out more at this Link
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