"If you look at companies like Facebook, Twitter and Reddit," says Ned Scott, who co-founded Steemit earlier this year, "they're taking our time and our work and our creativity and our energy, and leveraging that along with our private data to create profits for their shareholders. But with this point system – this 'magic Internet money' – the users can get paid for creating and curating content." Steemit, which currently has more than 100,000 accounts, has distributed the equivalent of more than $4 million to users in four months, and it's not alone: There are at least half a dozen other sites, like Synereo and Yours, based on slightly similar models.
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