I posted my comment below before reading this.
Yes, I do find similarities between UIAs and SMT. But where do they differ?
so this is a way to bring that function internal to Steemit itself.
SMTs are Steem-specific (to bring in more demand for Steem)? As for UIAs, you create your own token for your own consumption and you generate the demand for it?
The functionality and purpose will be identical. Everything mentioned in the notes about SMT is what UIA(and similar assets) on Bitshares DEX already does. The only difference will be where they are created and traded -- UIA on the Bitshares DEX, and SMT will have to be on a new internal Steemit DEX.
But, since at the moment people/platforms/projects use UIA on Bitshares DEX to exchange for upvotes to support communities on Steemit it technically builds value in Bitshares Branding ( and also in exchange fees). Steemit/STEEM gains nothing from it directly.
So that's why I mentioned this is just a way to bring that function internally to Steemit. Keeps the money, fees, and users in STEEM. One-stop-shop. So that will be a good thing in the long run.
There was some debate in the other comments about the "ICO" aspect being promoted as the biggest part, but that draws regulation/law issues in many countries. So perhaps a rephrasing of that or how it builds in will evolve as they go along.
Just my thoughts on it all. ;-)
Thank you for this. I guess the real learning comes when SMTs are actually implemented and put into use.
What I can see from it is that SMTs and UIA are not in direct competition with each other but 'symbiotic' in nature and just feeding off each other?
Basically what I want to grasp is, when are SMTs beneficial to use and what are UIAs beneficial to use for (besides buying upvotes)?