Over the past few days, I’ve been thinking how the Steemit platform actually provides the right model and tools to help startups get off the ground. It’s strange yet wonderful in a way that, though early-stage itself, steemit can be and probably already has been a launching pad for many entrepreneurial projects. Looking at the way the platform is built reveals possibilities as to why this may be the case:
Company structure
Steem power can be both useful for allocating ownership of a startup as well as raising future funds. Gabriel Scheare likens it to holding stock in Steemit. I’d go one step further and view your account as its own company. Like any early stage private company, vested funds are illiquid for the most part, which is what you want when you’re at the bootstrapping stage. This is not the case for most other fintech/crypto startups that raise liquid funds through ICO before the development progresses sufficiently, putting development at the mercy of market speculators.
Paying out stakeholders
If the startup progresses further and wants to payout shareholder dividends, it can either use Steem dollars generated from posting content, or power down to do so.
Transparency
One of the key strengths of the platform is its openness. Anyone can easily look up wallet transactions and payouts. The benefits of this are critical. Say for example, you do a feature on an artist and promise to pay them the Steem dollars generated from the post. The wallet history can verify if you have followed through with your promise.
Potential
I have always wanted to work on my own pursuits for myself and those closest to me. In the past I thought in a very regular way, and only was able to see ordinary channels for getting to where I wanted. Those channels seemed blocked most of the time. Especially working in education, I feel that government regulations keep so many bright people from moving up in or even entering that field.
I haven’t been so excited about the possibilities of life in such a long time. The platform has me wanting to build teams and start ongoing projects. I can’t wait to propel my ideas and passions forward in this forward-thinking community.
It’s idea city in head at the moment. Watch this space :)
