Not Another Bitcoin Story
GQ South Africa|July - August 2018

As the Bitcoin rollercoaster ride continues, we go inside a conference for another cryptocurrency called Steem. There, we meet the devotees who see this new financial system as the way of the future – and the man who will lead them there

Andrew McMillen
Not Another Bitcoin Story

On the stage in front of us stands a clean shaven young man, his short brown hair slicked back at the fringe. Dressed in a plain black T-shirt and dark jeans rolled up to reveal heavy brown boots, his name is Ned Scott, a 27-year-old former-financial analyst-turned-tech-entrepreneur who looks remarkably, well, normal. The kind of guy who could easily slot into your social sport team, then buy you a beer after the game. But he also happens to be a millionaire many times over.

Before him sits an audience of 300 men and women who are each hoping to become as rich as Scott, simply by posting on a website named Steemit. Co-founded by Scott, the site officially went live in July 2016 and has since paid out more than R240m in digital currency to its users. These devotees have travelled from more than 35 countries around the world – each paying as much as R14 300 – for the privilege of attending this, the second annual Steem Fest conference in Lisbon, Portugal.

Sporting the kind of wireless headset you might catch Madonna wearing on stage, Scott projects easy confidence as he gives a presentation to open the first day of SteemFest. Hundreds of people have gathered to pray at the altar of this new technology, which might change the shape of the world’s entrenched financial systems. For about 15 minutes, Scott addresses the crowd, who are mostly listening in respectful silence but occasionally erupt into cheers and applause.

‘The thing that’s probably more important than anything else,’ Scott tells the crowd, as his talk draws to a close, ‘is actually something I can describe in one word.’ He clicks the device in his hand to reveal the final slide of his presentation, which features just three large letters.

Bu hikaye GQ South Africa dergisinin July - August 2018 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye GQ South Africa dergisinin July - August 2018 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

GQ SOUTH AFRICA DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
I am Legend
GQ South Africa

I am Legend

For 40 years, Toyota has produced an iconic 4x4. In 2024 it's received a subtle, rejuvenating facelift - and more. The Land Cruiser 76 is made for Africa.

time-read
1 min  |
August 2024
Alternative Investments
GQ South Africa

Alternative Investments

We take a look at how alternative investments offer a diverse range of opportunities beyond the traditional, with a particular focus on venture capital

time-read
7 dak  |
August 2024
THE HEART OF A CHAMPION
GQ South Africa

THE HEART OF A CHAMPION

AYABONGA KHAKA IS A RIGHT-ARM medium bowler for South Africa's national cricket team, and earned a national contract with Cricket South Africa in 2018.

time-read
2 dak  |
August 2024
THE DEFENDER OF HOUSE
GQ South Africa

THE DEFENDER OF HOUSE

From his debut album Golden Power to the recent hit \"Yes God\", Oscar Mbo is still the king of deep house music. Apart from consistently energising groovists with his beats, he also stands out as the country's most stylish DJ - and a savvy businessman

time-read
10+ dak  |
August 2024
GOLDEN BOY
GQ South Africa

GOLDEN BOY

With top-charting hits such as \"Adiwele\", \"Sete\" and \"Imithandazo\", Young Stunna is the face of amapiano, and a rising icon. In a remarkably short time, he's carved out his path in the music industry and stands poised to conquer the world

time-read
10 dak  |
August 2024
Fierce, Fearless and Flourishing
GQ South Africa

Fierce, Fearless and Flourishing

THESE FIVE REMARKABLE WOMEN LEADING WITH COURAGE, DETERMINATION, AND LIMITLESS AMBITION ARE REDEFINING SUCCESS IN THEIR OWN TERMS

time-read
3 dak  |
August 2024
DAMIAN WILLEMSE HUMBLE STAR OF SA RUGBY
GQ South Africa

DAMIAN WILLEMSE HUMBLE STAR OF SA RUGBY

He's renowned for his skill and versatility - but the legacy of Damian Willemse is built on inspiring others, both on and off the field

time-read
9 dak  |
August 2024
The Visionary Curator: Jana Terblanche's Journey in the Art World
GQ South Africa

The Visionary Curator: Jana Terblanche's Journey in the Art World

Poetic and political this ambitious yet principled art curator challenges the traditional and champions African voices

time-read
4 dak  |
August 2024
Non-invasive Cosmetic Treatments Guide
GQ South Africa

Non-invasive Cosmetic Treatments Guide

From advanced laser therapies to cutting-edge injectables, these innovative procedures offer effective solutions for smoothing wrinkles, enhancing skin tone, and contouring the body

time-read
4 dak  |
August 2024
Lelowhatsgood The Maverick DJ Disrupting Africa's Cultural Landscape
GQ South Africa

Lelowhatsgood The Maverick DJ Disrupting Africa's Cultural Landscape

“Demon’s Kiss” put him on the map but there’s more to this Renaissance man than just hit singles.

time-read
3 dak  |
August 2024