There are many layers to it. Steem itself is a cryptocurrency based on the blockchain, and our ecosystem is entirely focused on social media and media in general with a goal to generate value around content creation and curation. The whole world watched Facebook achieve a valuation in the billions by becoming the world’s most popular social media platform. Where did all that value, which is very real, come from? It came from millions of ordinary people who used the platform to create and share content. That is clear proof that the creation and curation of content has financial value.

With Steem and Steemit, users can do the same kinds of things they do on Facebook and benefit directly from the value they are creating. People who create posts that other users appreciate earn Steem dollars, which have real cash value. Steem moves through the system in a series of microtransactions that bear a tiny resemblance to crowdfunding, except the system is completely frictionless and there are no transaction fees. Simply put, whenever a user upvotes an article or post, the creator earns some Steem. If a post gets a lot of upvotes, the creator can earn the equivalent of hundreds of dollars in cash, and this is happening already, time and time again, every single day.