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7 years ago in #smt by kevinwong (76)
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I've been reading some more of that Aeon stuff after you showed me the blog the other day... really great blog! I think you are right, they would be a great case study for how to utilize SMTs.
The big challenge for me so far is - how to explain the technical side of SMTs to people who might not even be familiar with blockchain beyond a vague awareness of bitcoin. It's a lot of info to chew on... but I think there is a way.
I had a recent conversation with a successful local entrepreneur in Raleigh's music industry and.. he was more open to it than I expected. The idea of generating revenue from content, without supporting random advertisements from Coca Cola / etc, seems to be a powerful incentive for business owners to learn more.
Good point! It's a good time to explore the possibilities of SMTs and I think there'll be good use cases coming out of unexpected places.
Hello! Re. “The big challenge for me so far is - how to explain the technical side of SMTs to people who might not even be familiar with blockchain … but I think there is a way.” I feel you have put your fingers on one of the tall hurdles in the path of cryptos going mainstream.
Also, it does not help that computer science professors and their students seem to have believed they should feel free to distort the usual usage of several common English words, and then expect ordinary people to simply accept that and learn to talk their way.
These are the same ordinary people that are their future clients to whom it is sometimes crucial to explain things clearly. There is not enough money inside computer science for them to get away with such sloppy communication practices, in my opinion. The leaders of the SMT project should make a big effort to get a breakthrough on clear communications to non-technical people.
One helpful step would be to show the pseudo-code of a protocol and not the code in a specific language’s syntax. A great deal of what we call “development” is designing the rules and steps of a protocol, which rarely requires that we start by writing computer code.
Moreover, there is nothing in computer science that makes people geniuses at this particular step of protocol design (they are geniuses in expressing the rules and steps in the code of a specific language), so all you have to do is represent the design using plain language before you get into the computer code. Then you use that plain-language version to talk to clients.
At the same time - does "mainstream adoption" require most people to understand the technical details?
The only people who need to deeply understand this are the CTOs, the technical leaders of the corporations that will leverage SMT technology. For those people, the white paper for SMTs should be easy to understand.
Hell, even for me - it only took about two hours to go through the paper and understand all the key points. How much easier does it need to be? Consider that this is technology which creates a new currency. I think there's some complexity inherent in that.
will it be possible to redeem those SMT tokens back to Steem Power ?
It depends on market value. But yes the point is that SMTs have their liquidity pool in Steem just like ERC20 tokens and ethers.
A SMT will be exchanged through STEEM, so we won't have a pack of SMTs and STEEM only one of them. We will have STEEM, and after that a cluster of SMTs over STEEM. Market-wise, this will in all probability help interest for STEEM, as a token.
Additionally, the SMT age system is far more mind boggling than only a token issuance on the Ethereum stage. When you dispatch a SMT, you truly dispatch a thin layer of Steem-application-forms over your substance, including your own particular prizes pool, your own particular swelling model, your own particular voting and curation calculations and your own vesting component.
Hope this helps.
so If I want to create an SMT, I need to put Steem Power into it . This is the point where my SMT gets value?
from the WP
Nicely put. It works right out the box with Steem-like features!
SMT is their own content economy just like Steem is? There own free floating value? How would you trade such a low liquidity token like that through Steem? Just curious about the liquidity of the SMT since we are talking mini-micro tokens at least to start with under $10,000 in total cap.
Would be nice if you name the source @bbomber which is @dragosroua in my post this morning.
Do you know if there is a dicussion forum or space focused on SMT topic?
I have some questions regarding the white paper..
Good question. Maybe there's already one on chainbb, using certain tags. Maybe the smt tag. We can start in this post if you want to lol :). There are dozens of other SMT-related posts as well!
Best to discuss in a topic oriented forum or a channel on discord, so info is shared.
That's right. It'd be better for the more "official" channels to start this so we can have a good discussion going in a concentrated forum.
I believe your best bet would be simply to write a post about it and tag SMT.
Smeemit inc is asking for transparency and open debate and co-creation here. And there's no better way to do so than on the blockchain.
Following the announcement made yesterday, I have kept on thinking on ways where I could also create my own token and use to reward my followers and those having same passion!
This is really a game changer and we will see amazing growth soon in Steem and Steemit!
It's a race for coming up with the next best Steem-like token!
This is a great addition to the discussion of SMT that seems to be blowing up! You have me thinking about ideas for restarting former communities that were killed by Facebook and other social media sites, this idea could help bring like minded people, or people with similar interested back into a local-like community. I remember when forums for specific topics were huge and were the place to be. Do you think that SMT's could revive that culture?
:) since itll be some kinda API any app owners can use to integrate as part of their UI/UX, why not?
Awesome summary, and I share your enthusiasm. Steem is not just Steemit. There is so much more going on here.
The more demand for steem the better. As SMT is being built on the Steem block chain I support any project that will spawn from it !
Awesome news before the weekend, It can't get much better than that :)
Thank god it's Friday, thank god for Steem/ it/ whatever is coming :)
well it is up to us in this burgeoning steemit community to see if we can bootstrap new coins and develop new ideas...
So far we have just had the SMT announcement but no launch time or further info (I guess we will get that in due time)
I have a few ideas rattling around in my mind but I guess until more clarity is coming from @ned and the team we will have to be patient and maybe make rough drafts of our own whitepapers
Its a race to come up with the first couple of awesome SMTs. Good time to get excited, but yeah more info would be good although the WP is pretty comprehensive atm :)
@kevinwong, thanks for explaining SMTs in simple terms. I've upvoted and will resteem this post.
What would be really good is if you could guide us (here on STEEMIT) on how you went about using this innovation on your first website or blog. That would be so useful for non-techie people like me. Keep up with the great posts !
Smart Media tokens is really a game changer.
The people who will benefit the more are the ones who are already here!
This news has left Steem in green in the coin market cap as other currencies are in red!
Steemit is exploding soon,more users will be joining us.
Go Go Steemit.
Why? The real question is why not???
Lol indeed. The tough part is creating value for the token.
Creating value is the essence of all business... But what kind of business it is???
It's awesome that you present things in such an optimistic light, because honestly no one knows where SMT will lead ,but we need people to inspire us and come up with real world use cases in order to make this work. Most are a bit mystified by the hole SMT thing and I'm glad to see people who want to spearhead this change.
Yeah it's up in the wind. But I think cryptocurrency projects in general have a major oversight when it comes to social spaces like Steem to reward contributors and generate growth. I mean sure, the discussions are taking place in different corners of the web in forums, slack channels, etc. But I think decentralisation has value and social distribution is one way of improving that :) But anyway, SMTs go beyond cryptocurrency communities..
Note: SMTs for SMEs lol, great line.
" Note: SMTs for SMEs lol, great line." .. ha ha - ))))
Smart media Tokens = Smart media Expansion ?? - ))
or .. ? - )
S-UP-RISING me EXCITEDLY !!! - )))
EtheR PUN'K .. the 'future prognosticator' !! - ))
= your .. "MOON-AGE" has a 'new' dynamic fuel system, with SMT's !!! - )))
" SMTs go beyond cryptocurrency communities.. "
.. i couldn't agree more !!! !!!
JusT watch STEEM PUN'cH thROUGH ALL the 'sell walls' on its way to Ethereum parody !!!
= how many will power-down to 'sell' .. on the way UP ?? ??
and .. with a "built-in" PeggeD ASSET ( SBD ) that will 'compliment' SMT's .. the range of possibilities is truly endless !!!! ... so exciting "TO BE" .. HERE & NOW !!! - )))
Keep it coming friend !!! - )))
.. the U(n)I-VersE is responding to OUR "intentions" - ))))
and ... i LOVE YOUr TrajectorY !!! - )))
lovelovelove )))
greb'Z )
It might be a simple idea but Albert Einstein once said.
Simplicity is the ultimate sophistication.
Or was that da vinci hahaha
Looking forward to the future of steem my friend :) and love that people like you will have the potential to shape the network :)
Much love brother ❤︎💡
Yes social currency, simple as can be..
Well said and makes alot of sense...Im excited where Steemit could possiblly go in the future..Thanks for the article...
Hi Kevin, can i pay my aeon friendship fee in Steem or any other crypto pls?
None of that yet. But it seems fitted for Steem's model..
Awesome....Got something new from your post....aeon on my mind
I asked that question cos i reside in Nigeria and i have no Paypal or any domiciliary accounts.
I have been waiting for smart media token definition Since Last night, and now I got it. Thank you @kevinwong
All the Best for you.
I think the whitepaper on the SMT website is more comprehensive. Glad to know I might've made it simpler or meaningful? I'm not sure haha. Thank you.
Haha, of course you have made it simple @kevinwong, by the way thanks for everything you have done.
Glad to know you.
I'm already thinking hard about the way how to use it in the future for my websites.
Exciting stuff eh? All the best!!
As always, great post. I feel bad for @biophil. Hope he turns his adventure in a positive way.
programmers / engineers get over stuff pretty quickly ;) plus plenty learned out of the experiment as well. It still can run though
Is there someone here who can explain about this SMT into the Indonesian language? I am still confused by the explanations of SMT. Google also translates into confusing sentences.
I saw there was an Indonesian post about it earlier. Will paste it here if I find it again!
I will also look for the article. It may take some time for me to know about SMT.
I like it as it seems the next logical evolution, but i am no expert and need to study a lot more before i know what i am talking about, anyways thanks for your post
SMT will be the perfect media token because STEEM is battle tested. If there's an SMT widget for Wordpress, it will boom like crazy because Wordpress is still the most used blogging and cms platform.
Yes , the plan is to have plugins any websites can use :)
This looks to be a a great next step in the Steem revolution but i think i need to understand it more well :) anyways thanks for your post :D
Some things are worth losing a bit of sleep over :)
definitely :D
But at some point, being so many tokens, will they not confuse people?
All things should be as simple as they could to get more people around.
Anyway, the idea looks interesting.
I saw another token that it is for authors and creators.
Having this things working well will change the life of many in a good way.
It's just like having gold, silver, usd, or whatever.. but at least it'll be listed in the wallet nicely :) yes I believe in the concept as it makes plenty of sense, at least to me
Lets hope from this "invasion" of solutions some of them will work and people will adopt it at a mass scale.
And that it will bring more income to real creators.
It will be good for us... the small people.
The future of tokens could bring much profit to those hodling steempower
Thanks so much for explaining SMTs so eloquently. I had some idea of how ground breaking this is and the implications for new business paradigms just went to the moon!🐓
At first, there's hype. Then boring times of implementing and executing until it's fulfils the hype :D good to be excited though!
I'll be bookmarking that blog. Fascinating first article!
Sure would be cool to have an SMT or two over there...
Love all their articles, so well made!
this new technology is so empowering! :) Thanks for the share.
Time to get crackin' :)
Btw are you going to be at steemfest? :)
Equality looks heavier though!
No one knows what equality really looks like.... we've never seen it yet ! (-:
I'm still trying to get my head around this not being a techie geek. But Im excited to aee where it leads.
Basically anyone can make their own crypto tokens , just a matter of making it valuable and in demand :)
VERY NICE POST
This is great and will be a gamechanger if all goes well. Thanks for writing a post on SMT which motivated me to write my latest post on how Steem will be EOS and Ethereum killer-I cited you there, pls feel free to see it. Wish you more success.
informatif article, its help people to understand what is smart media token means. thanks @kevinwong for sharing
Thanks for sharing this information! is useful!
thank you very much for the information.
I like.
Upvote and reestem
Very well said, your the one who defines it clearly, thank you haha i understand SMT a bit now.
very nice article @kevinwong
Thank you - so i just need to Resteem your article. Maybe I write one in German about SMT. :) if you have time have a look here @charityproject
thanks for information @kevinwong
I want use it
Good idea @kevinwong you have tell something big in smt. Awesome... Good luck.
Since the first time I read the shocking announcement from @ned, I started to think if this will impact both to the users own steemit Sir @kevinwong. Because I personally am not too understand about this Smart Media Token, repeatedly I read about this announcement, but I have yet to understand the core truth. Could you please tell me a little bit to me Sir. Thank you.
great post
Excelente noticia para el año 2018 seguro nos beneficiara a todos.
I was just thinking about how the Hip Hop community in the world can leverage on SMT. And because Hip Hop is all about giving back to the people, the possibilities are endless. I am sure Bboys will make something of it one day... perhaps... I shall lead it ;)
this is revolutionary! I really love it!
I dont understand the smt 🤔
You said the magic word "loyalty-point system"! I didn't read the SMT whitepaper yet, but I fully agree that many business can be supported with a loyalty services. In fact, many business do already have those, and the potential of tokens is that these can be replaced for digital versions and at the same time it allows roll out of loyalty systems worldwide, to all those markets that do not have loyalty systems. One crucial thing for a loyalty system to work, is a non-volatile token! When the token is not volatile to the local currency used by the consumers, the consumer will not be scared away as they are with crypto currencies. Non volatility is key for mass adoption, therefore is key for any business that deals with the mass, the everyday consumer.
https://steemit.com/steempower/@steem77/menuju-kemandirian-gampong-serta-promosi-steemit-di-website-gampong
Thanks...very good post...