This is wrong. There is nothing stopping any Steem developer from creating better top layer applications for the Steem blockchain. If a truly great business model is created on top of the Steem blockchain that has true value and revenue streams, it adds a large amount of value to Steem, as steem becomes an underlying currency for businesses. Steemit Inc. can be a trillion dollar company given they can deliver on value propositions and create a social networking platform with revenue streams and value for investors. This post is a terrible explanation of how Corporate entities can and should deliver products on the Steem blockchain.
I should add though, that owning 85% of the Steem supply is a concern if the Steem blockchain wishes to create a platform worth building on top of.
We don't own 85% of the Steem supply. Steemit, Inc owns less than 46% (last I checked) and a large part of that is being used to fund development of the blockchain and other open source software.
It should be very clear that we do not want to retain such a large influence, it is a liability on us and on the blockchain. That said, it is very critical that that STEEM end up in the right hands at the right time.
Distributing and allocating STEEM takes time to do right and a "rush" will end up hurting STEEM.
Thank you for clarifying @dantheman.
Interesting.
I think you're wrong in your original post but not your reply to it.
The currency, STEEM acts as a proxy for a value stake in a new kind of organization that is decidedly not a corporation. I don't care about the legal bullshit, which is bullshit and designed to repress blockchains till incumbents can catch their breath.
I can hear the dinosaur corps panting-- should I slow down because they're getting winded?
fuck that, I'm a goddamn marathon runner.
As an underlying currency, there is nothing stopping other businesses creating a competitive market, just as businesses use fiat currencies in the old economy to service their profits and losses. From a business viewpoint, blockchains are a great opportunity for businesses that are willing and able to adopt them. Databases with immutability create transparency between businesses and their consumers, so much so that there is no longer a need for trust. Steemit can be thought of as a centralized organization with immutable transactions. there's nothing wrong with capitalization in a free market. Anyone can do what Steemit has done, though tokens will need to be burned if they wish to create a competitive currency market worth trading.