I never quite understood why STEEM didn't have budget proposals and an elected committee like bitShares considering bitShares came first and it's basically the same technology. It's like this functionality was deliberately stripped out in the STEEM implementation. I do think this is something worth exploring. Thanks Jerry for starting the conversation.
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The idea, and it is stated in the white paper and elsewhere, is that voting on posts could be used for any sort of project that would add value to the platform, largely negating the need for workers/budgets/etc. We did see some of that early on, for example, voting on proposals to fund billboards for advertising, promotional videos, and such. It hasn't entirely worked out that way and the reward system has become more narrowly blogging and content focused.