There is lack of trust in major exchange like Poloniex due to its incompetence in handling transactions from member. In addition, attacks from hackers on exchanges like Bitrex and Bithumb have shown that none of these exchanges are 100% safe and a big reason for Steemit to start conceptualizing on ways to open up its own decentralized plus centralized hybrid exchange for cryptocurrencies.
Why Steemit should kick the Ass of Major exchanges / Trading Platform like Poloniex and Start its Own
Below are some reasons:
1) There are always issues with exchanges like Poloniex. Moreover, some steemians examples, @barrydutton and @teamsteem have warned members about using the platform to exchange their steem & SBD . Even if the issue might be better now, we are not actually sure that it is over . This argument is supported by @fyrstikken who reiterated the issue in his blog post and even suggested getting our own trading platform: When Steemit.com becomes the largest crypto-exchange in the world.
2) External Revenue Stream: Imagine Steemit having its own trading platform, hooray!!!! This will certainly bring in a lot of external income. Examples are trading commissions, exchange fees, withdrawal fees etc which in return will add huge external revenue to steemit.com and thus more value for our investments- especially in steem power.
3) More membership signups: Having our own trading platform will lead to thousands of more daily signups on steemit.com due to people looking for great trading platform/exchanges. This is a win win strategy for all of us.
4) Rest of mind: This relates to the first ponit however, in addition to that, many members will actually enjoy it if they can trade directly from their steemit account and do transactions very easy and fast internally.
For me , steemit is and will remain the best platform to blog , make new friends and do transactions due to its transparency, reward for hard work and honest management. It is, however , time for steemit to evolve and think outside the box in order to take over the blockchain and social media space.
Conversely, however, I do understand that it will be a difficult task to start due to complexities involved in creating and managing such platform -especially security issues. However firms that take up new challenges, using innovation and design thinking strategies always succeed in the long run.
Do you agree? send in your comment, and pls resteem and upvote in order for others to join the discussion.
Also click here and see my former blog : Stop whining, time to buy steem and power up