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71. End the attention economy. STEEM's Ned Scott on Steemit, cryptocurrency-driven social media, & the blockchain

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Sinopsis

Ned Scott (@certainassets, Steemit: @ned is trying to reinvent the way content gets made. He wants you to get paid in the process. Ned is the co-founder of a cryptocurrency called STEEM, and he's CEO of a website that runs on STEEM, called Steemit. Basically all of the actions that you would normally take on a site such as Reddit – writing posts, upvoting, or commenting, mines the STEEM – that's S-T-E-E-M – cryptocurrency. You can then cash in that cryptocurrency for the currency of your choice. The attention economy and digital distraction You've heard me talk about the economics of digital distraction on the podcast before. Hooked author Nir Eyal and I talked about it on episode 21. Companies such as Facebook steal your attention, because the current models of supporting content creation incentivize them to do so. For example, because the bulk of Facebook's revenue is from ads, they want you to spend as much time on your news feed as possible. This then incentivizes content creators to create the most atte