I'm not sure why all these companies are racing to put out these coins but some people say that by creating their own currencies one or more of them could be adopted by the rest of the world and whoever can pull that off and make a one-world currency...well, they will be the most powerful person in the world.
So I think it ultimately might have to do with power. They already have all the wealth they could ever need. I do know that congress is kind of panicked at the moment because they can't stop these coins and they don't want to lose control of the money supply.
Which is why the feds are in the race too. If the feds get their coin set up, people are calling it the Fedcoin at the moment, and they see these other giant companies are rolling out their own coins...then the feds could force the end of paper money and into digital by saying a dollar is now worth one Fedcoin and that's the law now.
It would force everyone to convert to the Fedcoin.
You're right though about all these altcoins and having the opposite effect, I think that's very possible. How is steem even being marketed? You think they aren't marketing it right?
RE: 2019: Engagement League Top 100