Could Steem Be Bigger Than We All Think?

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There was a press release that went out over the PR wires last week that did not get a great deal of attention. For the most part, it was a repeat of what already was out there with regards to the last hard fork(s).

I did notice a couple interesting pieces that caught my attention. As I consider the implication of these ideas, I am more convinced that Hard Fork 23 is going to be the major game changer. What we witnessed a few weeks ago was small potatoes compared to what is going to take place.

We use words such as users, applications (DApps), tribes, and communities. All are valid and tell part of what Steem is all about. However, there is a word that was mentioned that really struck a chord with me. It is also something that can put Steem at the top of the list if adoption takes place.

The word protocol is something few think about. It is a term that is applied to many areas of programming since certain protocols are adopted to create interoperability. Without protocols, all developers would code however they wanted creating applications that could not interact. Essentially, protocols are standards that all agree to use.

We saw the Internet operating as the "Wild West" until certain protocols were adopted. Probably the most famous is TCP/IP. This became the standard of the Internet even today. Some others that people are familiar with are SMTP and FTP.

It is only due to SMTP that you gmail account can talk to your work email. All email systems are designed using this protocol providing seamless interaction.

Imagine having seamless monetary interaction across the entire Internet with a standard protocol used. That is exactly what Steemit Inc is working on.

Here is what was stated in the press release.

With the release of SMTs and Steem Communities (think "decentralized subreddits"), 2019 is shaping up to be the year that the Steem blockchain matures from a decentralized content platform, into a full-fledged blockchain protocol capable of powering applications that are impossible to run on so-called "smart contract" platforms. (emphasis added)

Could this be the de facto protocol for tokenization of the Internet?

I would say, at this time, it is looking pretty good. When we consider all the projects out there, many are not focused upon this. They have other things that captures their attention, most using smart contracts. This protocol eliminates that, providing something more scaled down.

Essentially, this is a niche that is looking to be filled, albeit a rather large one.

In addition, the chances are being increased at success. @vanderberg had this to say:

As significant as these changes are, Steemit engineers continue to work on the most anticipated projects to the blockchain with Smart Media Tokens (SMTs). Steemit Senior Blockchain Engineer, Michael Vandeberg, said of SMTs, "Almost every single core system that exists in Steem is being expanded to support SMTs. When SMTs launch they will be the world's most advanced turnkey solution for tokenizing web applications." (emphasis added)

https://finance.yahoo.com/news/steemit-releases-significant-updates-steem-192300971.html

What is really powerful about this statement is it came from an engineer and not the marketing people. Anyone who knows developers realizes very quickly they tend to look at things from a "problematic" perspective. I guess it is constantly dealing with code that can always go wrong but they tend not to be the epitome of optimism.

What is also crucial here is the word "turnkey". The fact that Steem will have a protocol that is turnkey is vital. We know the problems even big companies have with developing on blockchain which means ease of use is required. It appears this is exactly what is being provided.

A protocol that anyone can follow, especially those without great technical expertise, is vital. There are a ton of people with coding and IT backgrounds but very few who are adept at blockchain. Having a solution that is basically plug and play increases the chance of success greatly.

The world of blockchain is fragmented at the moment. We have a bunch of different blockchains doing their thing yet not talking with each other. What takes place on EOS cannot operate on Steem. Bitcoin and it associated forks are separate from Ethereum. Tron is on an island itself as is Cardano.
Ultimately, blockchain's explosion comes only after interoperability is of some sort is achieved.

Maybe SMTs will be the first protocol that starts this process.

When we step back and see what is taking place, it is important to note what the Internet did for information. We can send it seamlessly, without friction. SMTP, FTP, and TCP/IP all are foundations in this. One can send an email and it ends up in the others person's inbox almost instantly (especially compared to snail mail).

By the same token, I hit a simple button and an article like this is posted for the world to see. Again, it takes only a matter of seconds for the ideas contained in it to become public.

Blockchain and cryptocurrency are providing that same benefit to money. Imagine a seamless, near instant transacting of money throughout the entire Internet. All interaction with a website is right there, no need to open up a Paypal account to make a purchase. Having the same protocol could allow for this integration with millions of different tokens "talking to each other".

Being first is no guarantee of success. Just look at the Beta/VHS battle 35 years ago. However, being the first one adopted on a mass scale could be a game changer.

Since nobody else appears to be focusing upon this concept, there is a good chance that Steem stands alone, bringing the protocol to the Internet.

Providing turnkey solutions could entice a few decent sized players to jump on board. In the world today, we know speed is key.

All this could lead Steem to being a lot bigger than many of us imagined.

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