I make no bones about my support for the Steemleo project and dedication to it long-term. My feeling is that this project is one of the better ones on Steem going forward.
In this article, I figured I would explain some of my reasoning.
It is easy to pick out the obvious. On that level, we can discuss the idea of a dedicated team behind the project who is willing to put in the effort to keep things moving forward. Anyone who watched the evolution of the platform over the last few months quickly realizes how far things have come.
Updates are vital. There is nothing worse than a project that remains the same for a long period of time. While there are often challenges that need to be overcome, it is crucial to keep things moving. This means regular updates. The easiest way to lose the interest of a community is for things to remain the same for extended periods of time. Consider the behavior of Steemit Inc throughout 2018 as an example.
These are not the only reasons for my belief in the long-term outlook of Steemleo. In today's world, it is important to choose those projects that can affect a wide arena. Specialization is on the way out while the most successful companies are involved in many different things.
Let us take Facebook as an example. What is that company involved in?
To start, it is obviously social media. Yet that is only the tip of the iceberg. It is also a communication medium. The company is one of the biggest advertising outfits in the world. With the introduction of the marketplace, it is involved in retail. And lastly, with the attempt with Libra, it seeks to be a financial services company.
These are just a few of the different industries that Facebook is involved in. Over the next few years, you can expect it to keep adding to the list.
Steemleo does something similar. It is true that it is a finance/investment platform. That is what the focus of the site is. However, when you consider what that applies to, the scope gets very wide quickly. In fact, it is easy to see how financial matters affect every single industry. One way to get involved in something is to target it at the financial level.
What does this do for the platform?
In short, it opens the doors for virtually unlimited possibilities. Choose any industry and there will be, ultimately, a way to tie it to Steemleo. Now, I am not going to make the claim that it will happen. Rather, I am just illustrating how a potential marketplace could look. The world of finance is one of the largest that exists. With another 3 billion people coming online over the next 6-8 years, this is only going to grow.
Cryptocurrency is changing how people get money. Over the next half decade, if the trend continues, we will see millions of opportunities to receive crypto as a reward. Basically anything one can think of can be tokenized and offer a payout. Steemleo, as a financial center, could be in prime position to take advantage of this.
Sometimes it is difficult to see some of this in the short-term. With technological change that comes so rapidly, it is hard to train ourselves to look at the impact of said changes. We are rather accustomed to a world where progress is slow, at least at the day-to-day level.
This is not going to be the case going forward. Decentralized finance is, in my opinion, going to mark one of the biggest changes over the next few years. Since the financial services industry is, ultimately, nothing more than a bunch of "middle-men", it is ripe for disruption. How can Steemleo leverage that to its advantage?
One of the easiest things to do is to simply look at this as a website that offers a token. While that is what it started as, the idea of expansion quickly took hold. Consider the fact that in less than 4 months, there is already a DEX tied to this. Think of the possibilities of that feature going forward. Decentralized exchanges are going to take on greater importance as the amount of cryptocurrency doled out expands.
Websites that Steemleo is mirroring have some built in limitations. They are prohibited from engaging in some of the areas that we are now discussing. The reason being is the centralized world of finance, aka Wall Street, is not going to allow them in.
With blockchain, that limitation is removed. As DeFi explodes, the opportunities will multiply. Take for example the insurance arena. How will that look in 5 years? We know it is an industry that has not changed a great deal over the years. This means it is ripe for another methodology.
John McAfee just opened up the McAfee DEX. That is in beta and looking to go fully live in about 6 months. This is built on the Ethereum blockchain, hence can contain all the tokens on there. For a nominal fee ($400), anyone can tie in with a user interface and be part of the DEX. Imagine if Steemleo expanded its DEX to include every token on the Ethereum network.
The key to all of this is to develop a platform for the experts with vision and the entrepreneurial spirit to ties into. It is impossible for each of us to know it all. However, opening up the opportunities to others and let them develop as part of the Steemleo family is what will expand things.
From what I can see, this is exactly the type of mentality that exists. Few truly understand what community means and the power it possesses. We are so accustomed to a centralized world where permission is required for all. Projects, ie companies, are built with the intention of controlling.
Here we see the exact opposite. Instead of controlling, be welcoming. We want to provide a place for those with the know how can invoke their knowledge for the betterment of the entire community. How about having real estate sold on Steemleo? Anyone up for mortgage and other types of financing on here? How about an in-house "banking" system? Lines of credit to businesses? Digital asset creation?
As you can see, the list can grow quickly.
Over the next decade, the world of finance is going to change completely. We are also going to see opportunities offered at an exponential rate. I believe Steemleo can be positioned to take full advantage of that.
And this is one of the main reasons why I am so dedicated to this platform.
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