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RE: Smart Media Tokens Could Bring Mass Adoption To Steemit Allowing Anyone To Launch Their Own Coins
You will be able to create your own coin and launch your own ICO (Initial Coin Offering) to raise capital for profit and development of your business or non-profit causes.
What about the recent trend of governments cracking down on ICOs and exchanges? Is this something that Steem/Steemit, Inc. should be trying to start right now?
That is a good point.
Is the US one of the governments cracking down on ICO's?
Certainly something to consider. ICO's aside, getting rewarded for adding content, upvoting, and commenting is still a great way to engage with users and monetize your site.
What do you think about all this?
The SEC has been looking into ICOs for a while. Other governments have been cracking down on this stuff and exchanges.
And when have you ever known the U.S. government to not crack down on money/assets/securities matters that they haven't explicitly approved? Just a matter of time, especially if it keeps growing.
It is very interesting watching the drama play out between governments and ICO"s. Governments are not known for relinquishing control of money.
The decentralized nature of the blockchain presents some real challenges to governments trying to crackdown on these types of things.
But if an ICO is offered through a single website then governments know where to go to shut it down.
It's going to be interesting to see how they respond.
Again, these are good points you bring up and are something to consider.
Still, I find the vision behind this protocol and proposal attractive and encouraging.