SteemFest deemed a success, more events planned

Decentralized social media platform Steemit has deemed SteemFest, its first European public event, a success.

SteemFest Amsterdam, which attracted more than 200 attendees from 30 countries, was a community-organized event where people discussed the rise of cryptocurrency and blockchain, the rising popularity decentralized social media and Steemit itself.

A popular discussion topic was changes in social media consumption where millennials and Generation Zs are gravitating toward decentralized, uncensored and rewards-based platforms.

That was supported by data cited by Steemit which said 63 percent of American college students surveyed see decentralized social media becoming the norm. A further 52 percent believe people should be paid for contributions which add value to online communities.

Steemit CEO Ned Scott

Steemit CEO Ned Scott

“The current privatized giants like Facebook, Twitter and Reddit are taking our time, our work, our creativity and our energy and are leveraging that along with our data to create value for their shareholders,” Steemit CEO Ned Scott said. “But with the point system embedded in Steemit – we have created a boundless social economy where users are receiving the value for their contributions and time.”

Six months after launch Steemit has more than 110,000 users and almost one million monthly uniques.