# The Grand Vision of a Crypto-Tech Economy [Steemfest Video]

By [William Mougayar's Blog](https://wamougayar.xyz) · 2016-11-19

blockchain, crypto-tech-economy, decentralization, featured, steem, think-tank

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![](https://storage.googleapis.com/papyrus_images/47eacb1f2139601aa6ae30b55e84b31d.png)

Last week, on November 12th, I made a presentation at [Steemfest](http://steemfest.com/) in Amsterdam, titled **The Grand Vision of a Crypto-Tech Economy**.

In the presentation, I talked about the greater context surrounding what is happening with [Steemit](https://steemit.com/) and its underlying technology based on Steem. This context is that we are in the early formation days of a new crypto-Tech economy, not unlike the web economy in terms of its potential on innovation and wealth creation.

*   What is that greater context in which Steem fits perfectly?
    
*   What are the conditions for success?
    
*   What does this new value chain look like?
    

Some of the points I make during this presentation build on my previous thoughts regarding a [blockchain-based circular economy](http://startupmanagement.org/2016/08/15/the-relationship-between-cryptocurrency-tokens-value-and-work/) and the [changing nature of venture capital with the advent of token-based funding](http://startupmanagement.org/2016/10/06/how-cryptocurrencies-and-blockchain-based-startups-are-turning-the-traditional-venture-capital-model-on-its-head/):

*   The Steem blockchain is an environment for building a circular economy.
    
*   The crypto-tech economy will be bigger than the web economy.
    
*   Crypto-currencies are fundamentally changing the way we work and get compensated.
    
*   Steemit is great because the users don't need to know about the Blockchain.
    
*   The circular economy works like this: Work is done, It creates value, Tokens are earned, Tokens can be spent on services internally, or tokens can be exchanges externally via external market relationships.
    
*   Think of tokens as just a means to an end. A coin or token can come at any time during the business success lifecycle.
    
*   Tokens and crowd sales are disrupting venture capital in more ways than one.
    
*   Steem's value lies in the strength of its ecosystem, number of users, and brand.
    

Here is the YouTube video. It’s about 16 mins with a 5 min Q&A.

And here are the Slides on slideshare:

[**The Grand Vision of a Crypto-Tech Economy at Steemfest**](//www.slideshare.net/wmougayar/the-grand-vision-of-a-cryptotech-economy-at-steemfest) from [**The Business Blockchain**](//www.slideshare.net/wmougayar)

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*Originally published on [William Mougayar's Blog](https://wamougayar.xyz/the-grand-vision-of-a-crypto-tech-economy-[steemfest-video])*