Steemit Founder and CEO Ned Scott Explains the Reason for Creating ‘Steemit’

Today, Ned Scott, CEO and co-founder of Steemit, huge name in the world of cryptoeconomy, the man behind the platform that pays you to provide content.

Ned also has a background as a Business operations and financial analyst and propelled this social platform to a new level.

It’s an interesting story, how did Ned Scott inspire to create Steemit?

As reported by Coinreport.net, Ned Scott elaborates what prompted Dan and him to create Steemit?

“Dan and I are similar in that we are motivated by the idea that we can improve the way of life for others. The state of Internet communities is imperfect – among the sometimes great content, there are also trolls, less than helpful comments and poor dialogue – so there was definitely a problem to solve there in the context of social media.

However, when the idea of Steem and Steemit really began to form we had been exploring several different blockchain-based business models.” Said Ned.

“We were looking at micro insurance on the blockchain and a few other ideas, but ultimately, we kept coming back to the idea that the most useful and powerful thing to leverage around a cryptocurrency is a community. "

""Steem was born out of ideas about insurance and mutual aid: it was the idea that people would be able to help each other peer-to-peer if they were struggling to solve problems or needed assistance. "

"It quickly grew into a much larger vision and Steemit was born as a place where individuals get rewarded by a community for posting and voting on content.” Ned added.

How did they come together to found the company?

“I learned of Dan about two and a half years ago, which was about eight months after I stumbled upon Bitcoin. I had been down the rabbit hole learning Bitcoin when I came across Dan’s work on the Bitshares project, and from there, blockchain really seemed to take up all of my time. In mid-2015, I began moonlighting for Dan, bringing his technology to different firms in New York."

"When 2016 arrived, I made my first trip to meet Dan in person and we had a good match in personalities. The ideas for Steem had just started forming and from there we put a real business plan together and co-founded Steemit.” Said Ned.

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