RE: CZ of Binance is talking about Steem and he doesn't even know it
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Steemit has had 4+ years to show the world its not up to the challenge. Regardless what 'social media platform' means in this context.
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As we have all learned it takes much longer to build on blockchains than most would like. Scaling is a major issue that still hasn't really been solved by anyone. The back-end upgrades steem made recently help, and likely position it better than most, but it's still not an end all be all solution.