RE: Why the proposal of leveraging the Steem Blockchain with Social Media Tokens is MASSIVE news..!! Effectively becoming a "Gold Backed Standard for Social Media"...!!"
I totally get the token creation part. But could you elaboraye more on how STEEM will back it up? As i see it now it is the same like creating an ERC-20 token o Ethereum Blockchain and it is not backed by Eth in any way. In this instance you will be able to run the Token on Steem bc with with Steem BC properties and will have to take care of it and back it by yourself.
Correct me if i am wrong. Thanks!