hey man, i put a disclaimer in there that i was shooting from the hip because I hadn't had the time to fully research it yet! :)
...but what I assumed was that you had to own steempower (2 year drawdown period). even if it's just steem and not steempower though, you still need to put the cash up and hold it in your account to get in the game.
That 2 year thing is long gone it's now 13 weeks to power down. If you haven't you can check out the Blue Paper which is a condensed version of the New White Paper.
My take on the SMTs is that Steemit wants to provide a tool for anyone that wants to power their websites with a blockchain token without the need to develop a blockchain.
I expect a lot of shitcoins to come out of this...and a few scams. But I also expect that some serious projects will be borne out of this.
i do hope you're right, but fear you're wrong.
i haven't had the time to even creatively think about possible applications for it besides the example given during the announcement.
It's actually a 13 week power down period.