Smart Media Tokens: An Introduction for newbies like myself (Taking your projects to the next level)

Dear Steemit Friends,

In an effort to spread the news about a recent announcement that @ned just made which will help propel the Steemit community to new levels, I wanted to take the opportunity to share with you and discuss in easier to understand terms what Smart Media Tokens are. @ned has graciously shared the whitepaper and as you can tell, there is incredible potential for developers, content creators, and business owners of the Steemit community to benefit greatly.

What are Smart Media Tokens?

SMTs are reward tokens that companies and developers can create and launch to support their Apps, business, and creations. They can use these tokens as incentives to reward their supporters, attract support, and also release ICOs to help fund their startups and business. The best part of all of this is that it is built on the Steem blockchain which is proven and widely supported.

Smart Media Tokens give anyone the power to launch and sell Proof-of-Brain tokens, which are tokens distributed by “upvote” and “like” based algorithms for their websites, apps, and other developments. Just like Steem, SMTs are designed to reward creators and their audiences with tokens based upon their contributions to the platform, based on likes, upvotes, views, shares, and comments.

Benefits

Because SMTs are built on the Steem blockchain, consumers can benefit from fast transaction times and easily distributed rewards that are generated and earned. SMTs can be run by any developer without changing any infrastructure or functions, without adding any new code, and without any previous technical knowledge. They can be implemented by anyone.

Ned Scott stated:

“Steemit represents the future of the internet and SMTs are how we will deliver that token-infused future for many, many more websites. Any website, application, community, or guild will be able to launch one of these tokens and integrate with various web interfaces in seconds. These tokens will be far-and-away the most user-friendly, inexpensive, secure and, most importantly, monetizable way of launching your own coin, fundraising for an organization, growing your community, and generating revenue for your enterprise.”

This allows for the further advancement of both Steemit and community members own developments and creations.

For an easier to understanding of how Steem and SMTs work, Doug Karr has put together a great video for reference:

Steemit is on it's way to monetize the entire internet. This is just the start and as SMTs are incorporated, so many good things and further advancements will be made. Along with that you'll see the dawn of a new class of businesses funded by creators own initiated SMTs.

Check out Ned's announcement below:

Check out the whitepaper Here.

As always Thanks for reading. If you enjoyed this post - please Follow, Upvote, Comment, Resteem and let me know what you think in the comments below

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