Steem - An introduction, description of terms and emphasis of the powerful reasons for learning about it

Steem

There is absolutely nothing simple about steem, cryptography, networks, blockchains or cryptocurrency. Since Bitcoin first launched unitl today, people have been trying to put it all in a nutshell so that others could get it and get on board. I think it's fair to say that no-one has yet nailed it! So I had an idea that instead of trying to wrap something so complex up into a bow, perhaps we could take people on a short journey that simultaneously introduced them to Steem, defined some terms, described some benefits and intrigued them just enough to learn enough to care.

Below, I've had a stab at it. I'm absolutely sure I have not nailed it :) I was hoping that there is enough done to encourage other Steemians to contribute. I'm hoping the end result will be a beautifully succinct, stunningly comprehensible and absolutely riveting journey, presented as a steemified single page document that we can distribute to friends, family, everyone.

I would welcome any corrections, suggestions or enhancements. In fact, please feel free to take the text away and modify it yourself if you think it's worth your time and you agree with the aim.

What is Steem?

In order to understand Steem, you need to be ready and willing to take a short journey. Try to remember, nothing worth having is easy and that there are no short cuts to acquiring valuable knowledge.

So why should you learn about Steem, why take the journey?

If you have ever wanted to live in a world...

...that is fairer
...that resists corruption and encourages accountability,
...where the rules only change if you want them to,
...where you are rewarded for your attention and participation,
...where the fruits of your labour are secure...

...then I urge you to take a chance and learn more about Steem.

Steem is the name of a cryptocurrency...

...which is a digital asset (distinct piece of binary information that carries with it a 'right to use') that works as a medium of exchange and uses a means of storing and transmitting data that is highly secure and known as cryptography.

Steem is also the name for a single unit of Steem the cryptocurrency and is highly divisible into fractions of a unit.

Steem is also the name of the blockchain for which Steem the cryptocurrency is the digital asset. A blockchain...

...is a distributed database (replicated in multiple places across a network) that stores a growing list of chronological records or 'blocks.' They are resistant to modification and enable people to trust the latest record of all the transactions that have occured without the need for a central authority or having to monitor everything themselves. The blockchain is also a set of rules for how it will form, create new cryptocurrency or adapt the rules.

Steem is also the name of an economic platform...the Steem economy. An economy is...

...a network of producers, distributors, traders and consumers of products and services. The Steem economy encompasses all related activities that are connected to the Steem blockchain and Steem the cryptocurrency. The Steem economy is governed by the Steem blockchain's rules which are in turn governed by consensus and consent of all participants (that's you, me, everyone that uses Steem, commonly known as Steemians.)

So there are four meanings for the word Steem...

...the cryptocurrency
...a single unit of Steem the cryptocurrency
...the blockchain
...the economy

Owning or earning Steem the cryptocurrency is the means by which you can invest in the Steem economy and all the activities, tools and services that the Steem blockchain supports.

The first launched and primary service supported by the Steem blockchain is Steemit...

...a social media application for bloggers. Steemit is revolutionary in and of itself. Anyone in the world with an internet connection can publish material for free and without the threat of censorship. Those who create or curate content for Steemit are financially rewarded by their fellow Steemians.

Within the Steem economy there are two additional units of account, Steem Power and Steem Backed Dollars. Steem Power is Steem cryptocurrency units that have been locked for up. Locking up your Steem units shows a degree of commitment to the Steem economy because you cannot trade Steem Power (it is not liquid wealth) and it takes a maximum of 3 months to unlock. Steem Power has two added benefits which are the ability to wield more influence and the receipt of some protection from the modest inflation that helps to fund the rewards and potential for growth. Steem Backed Dollars are digital assets that closely match the value of a dollar. Cryptocurrencies are highly volatile so the existence of the Steem Backed Dollar is to enable Steemians to protect some of their wealth from sudden changes in the value of Steem.

The Steem economy is growing fast as more users, developers and services are built around the Steem blockchain.

https://busy.org/
http://steemwhales.com/
https://steemd.com/
http://steemtools.com/
https://steemit.com/esteem/@good-karma/esteem-announce-release-of-desktop-app

So why is the Steem economy growing? What is so marvellous about the technology or the cryptocurrency? How will we achieve the lofty goals alluded to at the beginning?

...There is a growing community of users, Steemians.
...There is a growing community of developers and entrepreneurs.
...There is a dedicated, highly competent, innovative, group of active core developers.
...The Steem blockchain and cryptocurrency is based on world class technology, surpassing the vast majority of tested alternatives in terms of governance, stability, security, scalability and performance.
...Cryptocurrency and blockchains remove the need for central authorities (middlemen) that are traditionally parasitical and a major source of corruption.
...Blockchains are censorship resistant, extremely secure and exceedingly difficult to corrupt.
...The rules and governance model ensures that you always have a right to choose, a right to consent to changes.

The list of benefits goes on but how does Steem solve some of the fundamantal problems facing the world?

The root cause of the majority of the world's problems is the debasement of our currencies. Without the debasement (otherwise known as counterfeiting, money printing or quantitative easing) of our stored productivity, stored wealth, it is far less likely the means for war or to support the world's most damaging monopolies would exist. That includes governments, banking, energy, media and so on. They continue to exist despite the staggering weight of their greed and corruption simply because currency debasement enable the theft of the majority of the world's wealth to occur. That wealth is then grievously misallocated towards all the crazy waste, destruction, hubris and pursuit of power that we are becoming so familiar with.

The world is a cage for most people. It is a cage of threats, theft and deceit which is totally pervasive. Steem offers the means to step outside of that cage, peacefully. Once you step outside of the cage, you'll find others like you who want to build and flourish in peace.

All of this can be accomplished with Steem because it is efficient, resists corruption, is decentralised (menaing ther is no single point of failure) and because it's foundations are built on the freedom of choice, consent with the idea that your life, liberty and property should be secure.

The biggest lie ever told is that there is not enough to go around. There is enough to go around but with most of the world's wealth being concentrated for so long in the hands of so few it only seems like there isn't. A fairer world that was not at war with itself could find it's own population balance and would be innovating, adapting, evolving and flourishing.

The Steem economy has the tools and the principals to set the world free. Steem is a new beginning for everyone.

Happy Steeming