Thanks for the interesting video! I can answer the question why there is a waiting period to exchange SD to Steem. This is because the security of your holdings, if your account get stolen it will take a week for the hacker to take out your money In this time Steemit can recover your account.
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Nope, it is to prevent market manipulation. That is if someone with malicious intent and a lot of money wants to cheat the system by manipulating the price of Steem, they would have to do so continously for at least half a week, which is much harder to do.