AUSTIN, Texas, July 11, 2019 /PRNewswire/ -- Steemit, Inc.
(https://steemit.com) continues to lead the way when it comes to
blockchain-based social media applications. Whereas Facebook's
plans to enter cryptocurrency continue to not sit well with users
and regulators. The House Financial Services Committee said
the "systemic risks" posed by Facebook's cryptocurrency platform
"are even more glaring in light of Facebook's troubled past, where
it did not always keep its users' information safe."
"We knew this day would come because we believe in the power of
blockchain and cryptocurrency technology. Steemit made the right
decision over three years ago when we launched the Steem blockchain
and steemit.com to give users back control over their personal
information, protect their content, and earn rewards for telling
their stories," said Head of Communications, Andrew Levine.
Steem is an open, decentralized, and immutable blockchain
protocol with zero barriers to entry which enables people to retain
ownership over their content and earn a stake in the technology,
the platform itself, for adding valuable content to it. Facebook
didn't announce anything like that. Even their cryptocurrency, the
Libra will have fees, whereas cryptocurrencies on Steem are fast
and totally fee-less.
About Steemit, Inc.
Steemit, Inc. uses blockchain technology to develop
cryptocurrencies that support, improve, and monetize social media
sites and networks. It is the primary developers of the Steem
blockchain and Smart Media Tokens (SMTs), as well as steemit.com, a
top 5000 Alexa site. To learn more about Steemit, visit
steemit.com.
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SOURCE Steemit, Inc.