Wise brings anyone the tools to empower great content curation without losing control of funds.
The Problem
Everyday we have the same problem: How do we find and reward the best possible content on the chain? What makes the task even harder is the fact that majority of the SP is being held by the few rather than the many. This is why delegation was a important evolution for for Steem but it had it shortcomings, mainly the issue being lack of control and no rewards for delegater.
With delegation there is no control on who the delegatee can vote on, how many times, on what tags and so on. You get the point.
Whales and orcas also want return for their investment, plain vanilla delegation however does not give any of that but lucky for them bid bots were introduced. A next evolution for Steem. This enabled high SP accounts to sell their votes without any effort and has seen a great adoption among Steemers (Around 11.11% of all available SP is available through bid bots). Thanks to this new direction of Steem, majority of trending posts in top 20 are there thanks to bid bots every day.
So when trending should be the showroom for the best available content for consumption in Steem, we rather have sold it to highest bidders. Meanwhile Steem is having huge issues with retention and has bad reputation.
Solution
Wise enables you to give people access to your votes with rules set by you to ensure your voting power isn't abused.
For example I personally could give , who I know is great at curating art content this kind of access to my votes:
- one 20% vote a day
- required tags: art
- can't vote on accounts: melooo182
- can't use for flagging
The steem power would still be in my wallet, I would still receive curation rewards from the vote melooo casts and I would keep control. Simple as that.
What would Steem look like as a content hub when we see high amounts of SP in the hands of proven curators who are experts in the fields they curate? I know we're using "bitcoin is going down and so must Steem" as excuse for bad performance in almost any metric but it doesn't mean we can't make Steem stand on its own and make people want to use it. For that to happen though...
We need Steem to wise up
We all want Steem and the apps built upon it to compete with the likes of Instagram, Youtube and Twitch. It won't happen with the current trajectory we're on but with wise being adopted by the whales and orcas, it just might.
Future routes
Find the best content creators on the chain, reward them to keep them here, enjoy the fruits of success that comes with it. Or just let your votes continue being bought or used for the same people day in and day out and wonder why Steem is performing so bad even though we are paying for content creators for their work.
Sources:
https://steemit.com/steemit/@themarkymark/how-much-sp-in-tied-up-in-bid-bots
Edit: it seems that of all the active Steem power that is used for voting bid bots account for about 22% instead of 11.1%. So almost 1/4 is used for vote buying or should I say "pay me and I vote for you" - kind of services. Did I hear "Proof of brain" somewhere?