I think thats an excellent idea to use SMTs for activities like charity drives & may be also for various exchanges between exchanges and perhaps kiva like initiatives.
Though IMHO there are 2 points to be considered:
stability
inter-operability / interchangeability
I have read the white paper and tried to poke into the code but I am not sure whether SMTs can be exchanged for STEEM or SBD
SMTs, if they are limited to that particular "community" or taking the note from "barter" exchange, it will be difficult to make this use case and in general any use case work. The issue with barter exchanges was this. There is Universal (Trade) currency : https://www.ucci.trade/ but even with that the trade didn't pickup. IRTA and similar organizations tried to push this in vain. I know people sitting with millions in trade currency but there is no liquidity. (apart from trade)
Another aspect I would look at the stability of the SMT / STEEM / SBD. For example I just dumped few minutes back and now the price has shot up. And this is for SBD which was supposed to be pegged to USD for relative stability. Add forex fluctuations to this over the weekend and the situation becomes quite unpredictable - ie we / charity organization can't predict its revenues (P&L)
So I think SMTs are an excellent option for say, charitycoins BUT there has to be mechanism's to ensure stability and inter-operability. On the positive side, being on Graphene, the blockchain is extremely fast.
The fluctuations can be very dangerous as the organization I am trying to help is now training people to make umbrellas and raw material cost has to be managed with a stable currency. Another initiative I am interested in is http://www.uravu.net/ and they also buy - sell.
My selling price was the red arrow in the below diagram
I think thats an excellent idea to use SMTs for activities like charity drives & may be also for various exchanges between exchanges and perhaps kiva like initiatives.
Though IMHO there are 2 points to be considered:
I have read the white paper and tried to poke into the code but I am not sure whether SMTs can be exchanged for STEEM or SBD
SMTs, if they are limited to that particular "community" or taking the note from "barter" exchange, it will be difficult to make this use case and in general any use case work. The issue with barter exchanges was this. There is Universal (Trade) currency : https://www.ucci.trade/ but even with that the trade didn't pickup. IRTA and similar organizations tried to push this in vain. I know people sitting with millions in trade currency but there is no liquidity. (apart from trade)
Another aspect I would look at the stability of the SMT / STEEM / SBD. For example I just dumped few minutes back and now the price has shot up. And this is for SBD which was supposed to be pegged to USD for relative stability. Add forex fluctuations to this over the weekend and the situation becomes quite unpredictable - ie we / charity organization can't predict its revenues (P&L)
So I think SMTs are an excellent option for say, charitycoins BUT there has to be mechanism's to ensure stability and inter-operability. On the positive side, being on Graphene, the blockchain is extremely fast.
The fluctuations can be very dangerous as the organization I am trying to help is now training people to make umbrellas and raw material cost has to be managed with a stable currency. Another initiative I am interested in is http://www.uravu.net/ and they also buy - sell.
My selling price was the red arrow in the below diagram
