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Should development of the Steem blockchain be decentralized further? Realistically, what steps could be taken to make that happen?
Steemit Inc has a huge stake. I think they own about 20-25% of all Steem Power or perhaps even more. My impression is that they have acted in good faith but their position is nearly a single point in failure and they could've done much better. It would be time, IMO, to think beyond Steemit Inc when it comes to solving the problems at hand.

From what I was able to gather from the whole issue is that steemit inc where trying to do too much and now, they've come out to say that they cannot subsidize the cost of running the blockchain anymore. This news has sparked a lot of concerns, however, many have begun to wake up to the reality of things and are actively seeking solutions. For example, esteem, steemmonster would be affected if steemit inc decide not to run their nodes anymore. And there are talks about ways of generating revenue for the blockchain. So if you ask me I will say this is a welcomed development. A lot of people argue that steemit/Ned are not the faces of the blockchain but it is apparent that they are major contributes and if they are not willing to play an active part in the development of the steem blockchain, then the communities have to come to gather and pull their resources to support their projects. In the long run, this will create the required incentive to decentralization even further. If communities and dapps do not need the support of steemit to thrive then its only natural that steemit inc will lose its relevance, which is not the case. They still have a major role to play, however, with less on their plate the company can force on its core objectives and this will make the company more effective.