Smart Media Tokens: Going A Long Way To Ending Global Tyranny And Poverty

It is time to really look at what is taking place and the true potential of the STEEM ecosystem.

Over the past 11 months, I did a ton of writing regarding my optimism about the Steem blockchain and what is taking place here. Part of what excites me so much is how it integrates into the rest of what is going on in the crypto world. This is something that really is going to impact all of us.

We presently live in a world of scarcity. This allows for the powers-that-are to control the masses. Tyranny is widespread since the masses tend not to have the resources at their disposal. Money allows the elite to control everything from the governments to the guns to the natural resources. This puts everyone else at a huge disadvantage.

Decentralization is the answer to a lot of what ails humanity. The control mechanism that is in place is so powerful because it is centralized. When the power was consolidated in such a manner, it gave the few access to something nobody else can tap into.

Smart Media Tokens are going to start to change that. Here is a shift in the STEEM ecosystem that is going to push humanity forward.

SMTs are going to make this blockchain a coin factory. There will be hundreds, if not thousands, of different coins created on this blockchain in the next couple of years. Each coin that is created using the SMT protocol becomes a "mini-STEEM". This is vitally important.

Many talk about Internet money. This actually does not capture the full essence of what is taking place. What we really need to focus upon is the Internet of money. In other word, the Internet came to the world of money.

Over the least 25 years, we learned a couple different things about the Internet and what it does when it enters an industry.

• It creates abundance
• It destroys most of the entities that are in that industry

We are already starting to see the foundation for this shift put into place.

At present, the industry suffers from a major problem. The world of crypto-economics is not a self-contained system. Instead, we are still dependent upon the world of fiat. For the most part, people need to convert fiat into cryptocurrency before anything can happen. Of course, this excludes most of the world since they do not have any fiat (or currency of any kind) to spend.

The other issue that goes along with this is that we have to turn crypto into fiat to use it for anything. There are a few use cases for cryptocurrency (mostly Bitcoin) but, globally, they are minimal. This is starting to change.

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Did you realize that the world of crypto jumped $30M the other day? I am not referring to the price of tokens on coinmarket. It might have jumped, I honestly have no idea. But we saw a $30M increase simply through a new release. This is something I wrote about in the past and now is starting. Wait until you see how this all ties in.

The other day, a luxury New York City condo was tokenized. This was a $30M deal. We now are seeing a piece of real estate that essentially is crypto. No USD is required.

It was placed on the Ethereum network meaning that anyone can buy it. We see a lot going onto that blockchain because of the smart contract abilities. Couple that with the reputation for the ICOs and we can see why this is a logical home for these types of deals.

https://www.ccn.com/a-30-million-manhattan-condo-was-just-tokenized-on-public-ethereum-blockchain/

What is the value of this?

This single transaction just offered Manhattan real estate to every single person in the world with an internet connection. No longer does it take millions to get into that market. Being tokenized, someone with a small amount of money can buy in.

We are also starting to see the answer to the question "what can I do with those tokens once I get them?".

The breakthrough is no fiat money is required. Any crptocurrency can be turned into ETH and buy a piece of deals like this. To keep things simple, I will not go all the way to ETH but use EOS as an example. Let us say the same scenario of a security token created but it was placed on the EOS network.

What does that do for Steemians?

This is where we go back to the "mini-STEEMs". Over the next year or two, we are going to see hundreds of coins created on the Steem blockchain using SMTs. This means that anyone can come here to earn coins. With so many, there will be an abundance of money available. The key to all this is that STEEM and other SMT created coins are utility tokens. They are paid out to people for engaging in whatever utility the token was designed for.

With Steem's content/reward system, this means all the SMTs will be the same. People earn tokens for "content" created.

We already see a basis for this. Right now people not only can earn STEEM and SBDs, but coins for using @steemhunt, @actifit, @dlike, @cleanplanet, and @air-clinic. We know @dtube, @tokenbb, @dlux and some others are also going to have their own SMT which will also reward people for using their applications.

Of course, the core component to this is that all those coins are going to be paired with STEEM. All can be swapped for STEEM immediately (once the exchange is set up).

So what? Convert all those tokens to STEEM and then what do you do with them?

This is where understanding the integration across other ecosystems is vital.

There soon (most likely only couple weeks) be a way to take STEEM and buy anything on EOS. This includes a security token based NYC condominium.

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Many of you know I am following the dWeb project and the Bench team. One of the main features is dPay which is essentially a digital bank. This system will outside blockchain but will ties into a chain that is a handshake between STEEM and EOS (and some other coins). The reason being is dPay accepts STEEM, EOS, Bitshares, Quint, and Cloudcoin in addition to the chain's native token. In other words, we are talking a multi-token, atomic swap chain.

Once again, we see an entire process where there is no fiat currency involved at all. And now I think it is fairly clear how one can pay for a piece of Manhattan real estate simply by using @actifit earned each day.

Of course, this entire process will be made easier because the first multi-chain applications will likely be wallets that can handle the different tokens I just described. Hence, the picture looks like the AFIT tokens going into the wallet which then are swapped for STEEM, turned into EOS, which is used to buy the real estate token, also contained in the same wallet. Naturally, the transactions are automated so one simply uses the AFIT to buy the real estate token and the rest is done on the back end.

SMTs are not only utility tokens, they are housed on a specialized blockchain. As we can see, EOS is better designed for the security tokens. When it comes to the content/rewards system, this is Steem's big advantage. It is what provides the earning power for the masses.

This is all part of what I see in the coming Age of Abundance. Tyranny exists because scarcity is so common. As I tried to get across here, SMTs are going to end the scarcity model. While it is true that not all coins will have extreme value, there will be many that do. Also, being part of the same ecosystem means the value of everything else is enhanced. So one application is more valuable if the one next to it increases. This is true across the entire ecosystem.

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As we see crypto-economics take over without the interference of fiat, then we will see the shift in power. I see great potential in being able to earn SMTs by using different Steem based applications and then using that money to invest in an assortment of things.

How big is this really? Security tokens alone are going to unleash around $500T in wealth that is presently tied up in non-liquid assets. Between real estate, art, partnership agreements, and intellectual property, you are talking close to half a quadrillion dollars. Now you have assets that are not only liquid but also available to the average person.

And I really feel that STEEM is at the core this process. SMTs are going to put a ton of coins in people's hands. This is not something that is going to appeal, overall, to the rich. It is going to be average people from all over the world doing things they like online. Yet, unlike now, they will be rewarded for it.

As for this process being stopped, no chance. Wall Street is already gearing up to start bringing security tokens to market. Once something is tokenized, it is available to all with cryptocurrency.

Suddenly, the crypto-economic universe is self-contained.

No fiat required.

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