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RE: Announcing: Smart Media Tokens (SMTs)
Great question! Nope there is no ICO. This is just a whitepaper (basically the "blueprint") for a protocol that enables other people to create their own Steem-like tokens. This is an open source technology that just increases the utility of the Steem blockchain for developers and makes it easier than ever for the owners and managers of online platforms to monetize by creating their own cryptocurrency with the power of Steem but custom tailored to their application and without the need to build or even understand blockchains! People will be able to launch ICOs for their tokens, but we won't be. This is all powered by Steem.
Community Liaison, Steemit
"People will be able to launch ICOs for their tokens"
Do you envision this used by media sites, or will this be useful for companies considering which platform to do an ICO on?
Will SMT be tailored to media tokens or are they going to have all the features neccessary for a business ICO?
(distribution plan, white lists, black lists, other ico related options..)
They do not have 'all' features of ICOs but they do have some features, and work well for vanilla ICOs without special rules. Other ICOs can be handled manually or with a script. I've noticed that even with ERC-20, there are many ICOs that use a script to distribute the tokens after ICO rather than having the smart contract do it automatically. This protects against coding errors, unusual circumstances, etc. Of course there are some that do distribute by a smart contract according to complicated rules and those are not currently a good fit for SMT.
Do you know if there is forum or chanel to discuss SMT white paper?