That is the basic concept, but how to implement it?
I think we need to reverse the conservative SBD printing cut-off that was removed in HF20. The witnesses and developers can create the modifications needed. Have the code reviewed by witnesses, tested, and then consensus to implement it.
That can be a first step forward in cutting ties and reliance with Steemit Inc.
Just keep running this model where small changes to STEEM software are implemented and we can move forward with SMTs without the dependence of Steemit Inc.
I really hope, @socky, that 2019 is the year the community does move away from Steemit. Steem is such a wonderful undertaking that is being held back, in my view, by Steemit.
Sub 16 GB master nodes would help, @shredz7 and others working on other token creation mechanisms, and the witnesses having a bigger say in the blockchain code all are steps in the right direction.