Tuesday, October 17, 2017
I've been perusing the whitepapers of both bitcoin and soon-to-be-launched smart media tokens to get a better sense of exactly what is going to be developing in the next year or two.
I think the next five months will be extremely telling for not only the future of Steem, but the future of cryptocurrencies in general. Assuming that SMT's launch when they are supposed to (beginning of 2018 - though no hard dates have been released), the response at large will either be immediate and explosive, gradual over the next two or three years, or close to nil.
Now, based on what I know so far that last option (extremely lackluster response, or none at all) is the most unlikely. This is where looking at the whitepapers comes in as a form of due diligence to be sure there isn't some critical factor or barrier that I'm missing.
The only real question I have is what tools Steemit Inc. plans on releasing along with SMT's right out of the gate. If that's going to be left to individual communities, then we're probably looking more at the second scenario - a slow and gradual increase in SMT's over a couple of years as people and companies begin to catch on and take notice.
If there are sufficient tools straight out of the gate, we could have the first scenario, an explosion, on our hands. That's because as early adopters begin to show the strength and potential of SMT's, larger institutions will likely begin to catch on in a snowball effect.
It's still early days, and it must be emphasized that a lot is happening behind the scenes. Because of the nature of decentralized currencies, there may even be a lot going on that even Ned and Steemit Inc aren't aware of. Rest assured that very important companies and social media platforms have got their eyes locked on Steemit and SMT's and are praying to God that they will fail.
But they won't, and it's more than a little likely that Facebook will forced to adopt either SMT's or something very similar to Steem in the near future (several years) or else face going the way of Myspace.
If you've got time, it's probably not a bad idea to give some of these whitepapers a gander. You won't necessarily understand everything in them perfectly (lord knows I didn't), but it's important to get an impression of where things are now so that you'll have a better idea of what any changes in news might mean for SMT's and Steem.
Of course, if you're lazy, you could just read this blog. Hey, I won't hold it against you.
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nice post ...thanks ...
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