Yes, absolutely. First off, someone could create a patreon competitor powered by its own SMT. That would be easy. But, possibly even better, you will also be able to launch your very own Steem-like token (e.g. Cryptobobby Coin) that would automatically be distributed to only your followers, and in direct proportion to the amount of value those followers add to your community! You would also be able to allocate a bunch of tokens to yourself at launch, or receive a percentage of the token inflation in perpetuity. And of course, they would be transferable in 3 seconds without a fee, instantly making Cryptobobby Coins faster and cheaper than bitcoin, bitcoin cash, ethereum, ethereum classic, waves ... basically every other cryptocurrency in existence.
Community Liaison, Steemit
So basically this is not for the average joe to take on by himself. It's going to require a team effort and a sizable investment in STEEM to really implement an SMT properly, correct? Most people won't want to create a token just for the fun of it (or maybe so), but to achieve any degree of real success with an SMT will require a lot of technical know-how and marketing chops.
And there is still the hurdle of educating the masses about STEEM itself. It's great news but it will be a great challenge to convince anyone outside of the Steemit community how or why they would want to tie their business to STEEM through an SMT, and how to make it a success.
I do think this is going to be a game-changer, but several years from now. In the meantime, it will be an excellent opportunity for those of us who understand the potential to prepare ourselves for developer, consulting and marketing roles, among others. Those who prepare now will reap some big rewards later, I have no doubt.
I agree in principle, but I think the emphasis should be, for anyone, on improving your own contribution to the theoretical meritocracy that will emerge. I don't see that it matters if you are not a coder, consultant or marketer. As a musician and writer I find this interesting because of the prospect of teaming up with those who can implement this - as Ned says, the prospect of being able to align everyone's efforts is just mind-blowing. Forgive me for contradicting you, but I am not sure there will be much of a challenge to convince people of its efficacy. In my limited experience, people are ready for a sea-change in the way business is conducted - as if everyone senses that the current model is so antiquated that is can only serve those it was built to serve and leaves everyone else fighting over the scraps. This is a way to change that from the ground up and I think there is going to be a mad rush to adopt it and that will push forward the repercussions in ways we cannot now envisage.
I don't believe there will be any mad rush except perhaps by some of those who are already crypto enthusiasts (and of course those of us who are already involved with STEEM). The cryptoverse will embrace it to some degree, and the price of Steem is looking really good from this point forward, but I don't think businesses and other entities (bloggers, forum owners, organizations, etc.) are going to be clamoring for an SMT anytime soon. Later, maybe. Hopefully. The way we view these new advancements is much different than how the non-crypto crowd views them. But with more and more proof of the benefits becoming public, over time I think SMTs will attract wider adoption.
I am sure you are right my friend. Personally, I feel like I have been waiting a long, long time to get to this point, so it all seems like it's happening really fast now and has great momentum. Naturally I can only comment on my own perspective, and I think we just mean slightly different things by phrases like 'mad rush', 'anytime soon' and 'over time'. All the best to you! :-)
I am a blogspot blogger.. I am so eager to implement it :)
My goodness. I had gradually gathered that this was essentially the future for the blockchain and Steem, but to be 'present' as one of the intial protocols for such a thing is announced is jolly exciting. I had to comment just to take part somehow! I wish I had more to offer this dicussion than Bravo! but I haven't. Except perhaps, "Ladies and gentlemen the future is officially now." That'll have to do until I finish reading the whitepaper. :-)
Your excitement is contagious. Even though I don't fully understand SMTs, I reckon, as someone mentioned, that "when smart people say something is the next big thing, one needs to research it seriously so one doesn't miss out". I'm with y'all on this. Boooooooom!!! Let's go!!!
Boooooom! Let's issue Boom Tokens! I gotta million Mega-Booms in my wallet baby yeah! :-)
@fulcanelli I am sitting right here next to you with the popcorn this is history in the making and we have front row seats.