Steem is going to change drastically with the implementation of SMT. It’s really hard to predict what will happen for multiple reasons. There are very few announced tokens that will have their ICO through Steem. Also one can only guess how Steem will compete against other Smart Contract tokens. The first ever announced token through SMT though is a total killer! Let me explain.
The idea is very simple. VICE token will basically be a Porn-Dtube. Not only people will not need to financially support the porn producers, but they will also earn money by watching it. The whitepaper is not too long, therefore I recommend reading it. It can be found here.
Why do I think it will succeed?
I usually try to stay calm when reading through new ICO whitepapers. I didn’t manage to do so this time… I only see two possible sticking points in this project. But let’s take one step at a time.
As we all know, Steem is a project with a great potential. I think that most of us have been convinced that decentralized platform where people can share their creations, while the authors, but even the curators earn money, simply works. Porn industry haven’t really found its place here. The reason is that it probably wouldn’t be profitable for big companies to join Steemit, therefore only porn we see here is created by individuals… and that is simply not enough. Concentration of porn producers at one place, while transforming a system to suit their needs (so they would be profitable) could do the trick.
So VICE has dealt with momentary incentivizes for the creators AND the consumers, just by transforming the way the original Steem works (and only a bit). But I see the biggest value elsewhere. Nowadays watching porn is a really risky business. That is the case mainly because of all the viruses that are present on the current sites. I highly doubt that single PC that regularly connects to porn sites has avoided viruses completely. We all have them and we just hope that the one virus we were attacked by will not be fatal for our system or the data we hold dear. Decentralization to the rescue! Since its nearly impossible today to hack a Blockchain, there is no way how to “implant” the viruses into the system.
Possible sticking points
As I preceded, I see only two possible sticking points for the platform. First one is the quality of the producers. If there won’t be any quality to be found, there will be no consumers. It’s essential to acquire quality producers, but I’m convinced that the creators know about that and will do their best to find them. And the other problem is that at first, if the token won’t have a big value, the creators of the content might not be profitable, because they will naturally only receive the VICE tokens as payment. Let’s hope that all porn enthusiasts will unite to support a decentralized, virus-less, Steem-like platform were we all will earn some additional funds while pleasing ourselves. THE DREAM? Good bonus is that all the Steem holders will receive their share of VICE token distribution!