What Is Smart Media Tokens? Why Is It Important?

Today we're going to talk about Smart Media tokens. Smart Media Tokens is very important because may change the internet as we know it, whether you're an entrepreneur or just someone interested in leveraging cryptocurrency and blockchain technology to earn additional revenue. Right now the primary way people monetize content is through advertising paywalls or donations. Before you can understand why SMT is a revolutionary you first have to understand what they are.

Smart Media Tokens is a new Steem based protocol to allow any and every application to have their own Steem like tokens. The tokens have to be secured out of the gate. They can't require constant supervision and most importantly they have to just work. Every single existing online business can benefit from integrating a cryptocurrency today, but the few options that are available require dedicated blockchain development teams to create and even once they're created they don't do anything. The tokens just sit in people's digital wallets waiting for them to figure out use those tokens. Every time you do something with them you have to pay fees. Smart Media Tokens will change all of that. When the SMT launches, it'll be easier for any enterprise to create their own cryptocurrency, but even more important once they launch that cryptocurrency. It'll just work, the tokens will immediately begin flowing to their most valuable users. That's why It's called Smart Media Tokens.

To understand this better, let's take a look at Steem cryptocurrency which is used to power Steemit.com as well as other sites like busy.org or dTube. Steem can be transferred in 3 seconds with zero fees. It can be connected to actions including social interactions on Steemit when users upvote one another's blog post and comments. Upvote is connected to a little bit of Steem so that the creator receives a little bit of money every time someone upvotes. The action the upvote is connected to money, the last thing you want is for people to feel that this money comes with a cost, that it comes out of their pocket that would inhibit their activity and participation. It doesn't want to force people to think. It wants to enable them to act and through their actions earns money. Steem unique solution to that problem is something called the rewards pool. A small percentage of new tokens are constantly being created and these tokens populate the rewards pool. The pool then uses the upvotes of the users to determine who gets how many of the tokens that are inside of it. The more rewards a user receives the more value the pool gives to their upvotes. Steem has all of the properties of super-efficient cryptocurrency but it also leverages the wisdom of the crowd to autonomously direct newly created money to the most valuable member of a community without adding to the cognitive load of the user and without requiring any oversight by the owner-manager or developer of the website.

Smart media tokens are a way for people to launch tokens on the Steem blockchain. Every website owner entrepreneur or even individual the ability to launch their very own cryptocurrency that works just like Steem with the additional ability to customize that token to their unique needs. They can do this without requiring any understanding or even knowledge of blockchains because they'll all take advantage of the hyper scaleable and battle-tested Steem blockchain.

Why is Smart Media Tokens is so exciting for Steem and Steem blockchain? The reason is there are about 400 thousand-plus Steemit users and all those users will be able to launch their own ICO or their own token systems so this is going to be the easiest way to conduct an ICO out there. Smart Media Tokens will allow us to do is monetize community. People who hold so many tokens would give those tokens value monetizing communities using other token systems allow authors to be paid in other ways besides using Steam and Steem dollars. Smart Media Tokens allow Steam to branch into the traditional token markets so they can do ICO. They can do tokenized assets. This also allows Steem currency to become a reserve currency for other currencies. That means we can fund the currency using Steem itself. This going to reduce the amount of liquid supply of Steem as the tokens branch out. When money gets invested into them, it reduces in supply causing the price of Steem to go higher. Marketing on Smart Media Tokens is like Steem marketing, it takes care of itself because if you make a good post you get a high Google result.