Smart Media Tokens Explained // Interview with @raised2b - Part Two
Hi Friends!
If you are anything like me, then you probably have a lot of questions about SMT’s and how their implementation will actually affect the Steem blockchain.
This is the second part of a two part interview on Smart Media Tokens with @raised2b. He is an IT Professional, and longtime crypto enthusiast. This guy probably spends hours every day consuming content, interviews and news on all things crypto-related – and SMT’s are no exception.
If you missed Part One, you may find it beneficial to go back and watch that first.
He has the unique ability to understand things on a highly technical level, and then distil the information down in a way that is more easily understandable. (Especially to non-technical people like me!)
I literally had so many questions about SMT’s – that we decided to break it into a two part interview series. Each video is about 15 minutes in length.
Because I am really connected with the Dtube community – we used @dtube as an example to explore how SMT’s might play out in the real world.
Questions Covered in the Interview – Part Two
- We are all excited about SMT’s – but what kind of power does this have to attract people outside of the crypto space to blockchain technologies?
- We discuss the struggle of media to monetize their content. Many have been forced to devalue their brand by having cheap click bait adds.
- In the example of media outlets – how could they use SMT’s in their operations?
- What factors will influence an SMT’s growth in value once it has been created?
- We discuss how different communities using SMT’s can learn from each other as everyone experiments with different strategies.
- We discuss some of the issues we’ve seen on Steemit and how SMT’s give different communities an opportunity to “fix” problems as they see fit.
- Will SMT’s make the actual Steemit platform obsolete? For example, If Dtube, Dlive, Dmania, Dsound etc all have their own platforms through SMT’s … will people just move their content to those platforms and stop posting on Steemit?
- We talk about how Steemit Inc. can use SMT’s in their own operations. We also discuss the example of a “Good Person Token” that @ned mentioned in a recent talk.
- How will SMT’s increase the value of the Steem coin? Is it mainly because it will be the trading pair for all of these coins – or are there other factors that will bring value to Steem?
- We get a little deeper on the discussion of identity on the blockchain and the role of oracles.
Thanks for Watching
I hope you guys enjoyed hanging out with us on the deck while we chat about SMT’s!
If you have any questions on what we covered in the interview today – feel free to shoot them below. If I can’t answer them, I’ll ask @raised2b and get back to you!
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So awesome. Power couple interview with so much valuable information! Thanks for providing this ..... I am struggling a bit trying to wrap my head around what gives an essentially unlimited pool of ico’s in the form of SMTs real world value. I understand the reasons given but it seems like there is such low effort required to create its hard to imagine why there is intrinsic value there. Not saying that there isnt or won’t be. Is it that the SMTs will be attaching to the underlying business which will either create or not create value? I suppose it will all makes sense once we see an actual use case in action. I am positive on SMT’s because I believe in the team behind them, I look forward to seeing the first real example..... Thanks so much you guys I loved this video! New spin off idea......The STEEM Power Couple Show!!!
Yeah, I totally agree with your assessment. Definitely is going to be interesting to see how the value holds. Another big component of that is going to be the automated market maker piece of the white paper that we didn't really get into, but basically the token creator sets up an escrow type fund that is used to give the SMT liquidity to the Steem market so that helps create the initial value of the token and sustain it in bigger use cases.
You can imagine a token launched by a major company with a well funded automated market maker fund establishing and maintaining it's value much better than a completely new token with very little funding to get started.
I think it would also help if the Steem token was more divisible which would allow for sub penny and beyond values for tokens, much like how a lot altcoins are only worth a few satoshi's. It's easier to imagine a lot of SMTs being worth 1/1000th of a penny then it is to imagine them all being worth at least 1/10 of a penny.
Also, I think it's much better to just keep it to the Steem Sisters, they're a lot easier on the eyes and more fun to watch! :)
Thats interesting. That does make sense to have a divisible coin like that in alignment with a micropayment \tipping scenario. This is something I am looking forward to seeing how it can be used on goldmoney.com. I have some ideas already but will need to see in real life first.Will be keeping a close eye on this..... ha ha don’t sell yourself short man that was a fun interview!
Hahha I LOVE the idea of the Steem Power Couple Show... but it sounds like he’s not into it. 😂
We’ll continue to bring more power couple content, even without the official title.
I'm my SMT project for example, the SMD you won will allow you to use it for buying partner products in our marketplace but also use them for helping a non profit organisation project also present in our marketplace.
Hi,
I am looking for a programmer, who understands SMT and can implement it in my overunity.de and overunity.com forum with using the new elkarte.net forum software.
I am just switching from Simplemachines.org to Elkarte.net open source forum software, that is really great, but these forum programmers don´t have much knowledge about steem and don´t have time to implement it.
Is here any programmer, who knows how SMT works and can help ?
I am also willing to pay for the implementation.
Many thanks.
Regards, Stefan.
Please post a reply here, if you are interested. Many thanks.
Some good info about SMT's. Thanks.
Thanks @direwolf! I’m glad you found it helpful.
You are an inspiration. I am new to this steemit world and started with my travel blog . Please have a look at my profile and tell me if I am doing fine :) it would be lovely. thanks and have a great day.
Great interview(s)! Thank you @raised2b for the understandable explanation. SMTs make a lot more sense to me now.
That’s SO awesome to hear! I actually learned a lot in these interview too. Haha
If you ever have topics you want us to cover - feel free to let me know! Chances are I’ll have lots of questions too and he’ll have a well researched reponse ready to go. Hahah
Nice! If I have any more questions, I now know who to ask. Really, I mainly love the fun here and the coin is a bonus. Have a great day!
Interesting good friend post