I think you're right, because of the social media aspect we're still well positioned. Once the changes are brought in we can:
- rebrand the SBD (Steem Backed Dolla)r to SBFD (Steem Backed Pegged Dollar). Or some new catchy name. This to show discontinuity with the old coin.
- commision the influencers we have on the site (all the top crypto influencers are now here) to announce to their audiences the upgrade to this new pegged Dollar on Steem.
Normally it would take 6 to 12 months before anyone would trust a pegged asset with big money, especially after a somehow failed experiment like the SBD was. But if we are able to put across through the influencers the message that the SBD was only meant to be a coin with a 1$ floor (therefore pretending that it worked perfectly), and that SBPD is instead a new pegged stable dollar coin....then we can see adoption much sooner.
I don't know when the ERC 20 pegged coins will be production ready, but I believe because of the Ethereum brand they will be adopted immediately by the community. Ethereum has had more fuckups than any blockchain out there but somehow they can't seem to do wrong in the eyes of the investors for some reason which frankly I can't comprehend. Also their peg may be backed by real dollars in the bank (I don't know yet).
So it is possible that they might beat us in capturing the Fiat market on exchanges. Currently we only have Poloniex as potential market anyway. But for the retail and online shopping we're still in with a shot. Also lets not forget we have an internal market here on Steem which could skyrocket in volume.
To capture the retail market it would be wise to start already working on a SteemBay portal in preparation for the SBD changes. So it can launch as soon as the fork occurs.
Though it is very possible to imagine a future where retailers start accepting all battle tested pegged assets: OpenUSD, SBPD, ETHUSD, TETHER etc
Because of the integration with Steem social media and the 0 fees the SBPD could end up being the most convenient. Ultimately though no pegged asset can compete with a proven Dollar backed coin (meaning with dollars in the bank) like Tether was supposed to be.
So I might overstated the importance of having a properly pegged Steem backed Dollar, but we should at least give it a proper go. Even a small fraction of the finance and retail markets would bring enormous value to Steem.
Btw before announcing the replacement of the SBD with the new pegged Dollar coin it would be best to wait till it goes back towards 1$ so not to cause a major backclash in the market.