Steemit, a blockchain social media platform launches in beta

FinTech | May 26, 2016 By:

Steemit has gone live with beta release. The platform makes use of a cryptocurrency token called Steem, which people can use as exchange for USD and as a voting power.

The company, founded by Ned Scott and Dan Larimer earlier this year, aims at supporting social media and online communities by rewarding users with cryptocurrency, incentivizing thus the contribution of quality content.

“The versatility of the Blockchain has allowed us to create an incentivized social media platform to exchange conversation, creativity, empowerment, and value. We want to promote dynamic, creative dialogue and debate with an opportunity to earn,” said Steemit co-founder and CEO Ned Scott.

Steemit is a a new blockchain-based social media platform.