Steem Introduces Smart Media Tokens
New protocol was released to the Steem blockchain introducing smart tokens.
PROBLEM
Publishers and creators struggle to make a profit from their digital content.
Reasons are as follow:
*It's hard for publishers to acquire a critical mass of paying subscribers.
*Ad-revenue is taking a hit with the rise of ad-blockers.
*Tips and donations are not viable due to the expense of processing micro-payments
*Huge social networks like Facebook take profits from publishers but don't share revenue
SOLUTION
*To enable publishers to create tokens that help monetize content and grow communities: Tokens enable publishers to create mutually beneficial community based economic incentives to drive platform growth.
*Smart tokens with near instant settlement and zero transaction fees opens up new non-advertising business models.
*Publishers can also use the tokens to fundraise via an ‘Initial Coin Offering’ (ICO).
More detailed info you can find here: https://smt.steem.io/
Whitepaper: https://smt.steem.io/smt-whitepaper.pdf
Cool!
Yes, indeed. Very detailed whitepaper. Team has done monumental job. Enjoy it!
Interesting...there will be no facebook in the future. :)
We have a potential new strong option to take down once and for all facebook and the rest of the greedy social media platforms. Can you imagine? steemit, execute order 66 :-)
Exactly! Steem is growing everyday and people like it. Still we are only in BETA mode.