Last week, on November 12th, I made a presentation at Steemfest in Amsterdam, titled The Grand Vision of a Crypto-Tech Economy.
In the presentation, I talked about the greater context surrounding what is happening with Steemit and its underlying technology based on Steem. This context is that we are in the early formation days of a new crypto-Tech economy, not unlike the web economy in terms of its potential on innovation and wealth creation.
- What is that greater context in which Steem fits perfectly?
- What are the conditions for success?
- What does this new value chain look like?
Some of the points I make during this presentation build on my previous thoughts regarding a blockchain-based circular economy and the changing nature of venture capital with the advent of token-based funding:
- The Steem blockchain is an environment for building a circular economy.
- The crypto-tech economy will be bigger than the web economy.
- Crypto-currencies are fundamentally changing the way we work and get compensated.
- Steemit is great because the users don’t need to know about the Blockchain.
- The circular economy works like this: Work is done, It creates value, Tokens are earned, Tokens can be spent on services internally, or tokens can be exchanges externally via external market relationships.
- Think of tokens as just a means to an end. A coin or token can come at any time during the business success lifecycle.
- Tokens and crowd sales are disrupting venture capital in more ways than one.
- Steem’s value lies in the strength of its ecosystem, number of users, and brand.
Here is the YouTube video. It’s about 16 mins with a 5 min Q&A.
And here are the Slides on slideshare: