Josh Sigurdson talks with analyst Stephen Kendal out of Manchester, UK regarding the incredible leaps and bounds we’ve seen recently on the cryptocurrency social media platform Steemit.
Steemit is a social media much like Facebook, Twitter or Reddit where you can post what you would on other sites, but instead, make money off your posts. It all depends on the upvote and the upvoter. You gain Steem, the cryptocurrency and SBD the token. You can trade your SBD (Steem Backed Dollars) into Bitcoin or other cryptocurrencies if you wish.
Lately SBD has been skyrocketing for no good reason other than people accidentally investing in SBD rather than Steem which is weird as SBD is supposed to be tied to the US dollar as a dollar each but has climbed to around $12 recently.
All the same, we are seeing Steem skyrocket and as Stephen Kendal says, he wouldn’t be surprised to see it hit $20 USD from its current price around $2. A year ago it was around 7 cents!
With smart media tokens coming out and the vast censorship seen on social medias across the board, Steemit stands to be the future of social media, on the blockchain!
Stephen has been doing presentations on Steemit for quite some time now and even had a slot at the London Investors Show. He was asked back to do a live webinar recently and it’s garnering a lot of attention.
Of course Steem was the brainchild of none other than Dan Larimer of EOS and BitShares. His innovative mind has created some of the most useful and futuristic ideas on the blockchain.
Mr. Kendal also broke down his thoughts on the recent rally of Bitcoin, Bitcoin Cash and where he sees this evolution of cryptocurrency going next.
Stay tuned for more from WAM!
You can find Stephen at @StephenKendal on Steemit!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
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