Global Blockchain Technologies announces $20m fund to invest in Steem SMTs

in steem •  10 days ago

Just stumbled across this news announcement. Looks pretty exciting. The entirety of it can be read below:

The blockchain investment company establishes major joint venture to bring funding to startups building on Steem.

Global Blockchain Technologies Corp. has announced a non-binding agreement to create a joint venture with Steemit Inc, to establish a $20m Steem Fund.

The Steem Fund is a venture capital fund for startups building solutions on the Steem blockchain to expand the decentralized social media ecosystem.

Investments from the Steem Fund will be comprised of both Steem tokens tradeable on liquid exchanges and through traditional US dollar investments.

The Steem Fund will be architected to support the accelerated development of applications based on Steem's Smart Media Token (SMT) protocol, allowing native tokens based on the Steem blockchain, said a statement.

SMTs are a technology that allows individual organisations and companies to integrate a customisable and intelligent token system into their website, portal, or platform, it said.

Global Blockchain Technologies Corp. CEO Rik Willard said: 

"We're proud to be the first publically traded company to make a significant investment in the Steem ecosystem. No current open source and public blockchain protocol is more mature, scalable, and as rapid as Steem."

We are convinced that traditional media companies from every corner will find that Steem's technology will be a better way to monetize and distribute existing content and future works."

CEO of Steemit Ned Scott said:

"Today's announcement makes the future for Steem brighter than ever. The Steem Blockchain is faster and already larger than the Bitcoin and Ethereum blockchains combined, and working with Global Blockchain Technologies Corp. is going to exponentially increase the number of applications built on Steem in an accelerated amount of time."

Steem's Smart Media Token (SMT) protocol is native to the Steem Blockchain. SMTs can be run by any publisher without changing any website infrastructure or functions, breaking down barriers to enter the fastest growing industry in fintech, while creating a mutually beneficial bridge between consumers, content, and media revenue.

Global Blockchain and Steemit will jointly determine the ticket size and distribution of all investments, currently planned for full deployment by 2020.

http://www.ibtimes.co.uk/global-blockchain-technologies-announces-20m-fund-invest-steem-smts-1647127

http://paymentsjournal.com/global-blockchain-technologies-corp-announces-20m-fund-invest-steem-smts/

I am a bit surprised I haven't seen anyone talking about this yet, but if it's legit it sounds pretty exciting to me!

*Update: Ned tweeted the PR, which means the news is legit. Pretty exciting indeed!

Follow me: @jrcornel

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Thanks for sharing! Hot info.

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Awesome bro!..

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-----it ------------

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Is it hot ? For me, its great news :)

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yes plz vote for me

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as hot as hot as hot info ..!

  • like vegetables on fire!

Thank you for posting jrcornel.

Such good news....Zappl plans on using SMTs as well....

All the best. Cheers.

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plz vote for me

Anyone and everyone who has come across the steem blockchain and steemit can easily recognize the potential and credibility in the idea.

I've been on the lookout for announcements like this ever since I got to know the entire steem and steemit community better. I believe more of this is to come

I wouldn't be surprised if steem surpasses bitcoin and ethereum

The best part to me is the cred given the Steem Platform for having the first ‘publically traded’ company invest. If true, a nice development. Waiting for a confirmation from Steemit.com

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Yes, that part jumped out to me as well. Surprising we aren't hearing more chatter about this news release, yet.

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Me neither! Waiting for confirmation from @ned!

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Ned shared this link, so I think it is a confirmation:

Selection_484.png

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Awesome, thanks for sharing! It looks like he tweeted the news from his twitter account as well. Legit indeed. :)

Oo awesome info :)

Really great news, I remeber selling my @steemfund account to Blockchain Tech Corp´s President.. I never imagined that this would be the project that he had in mind!, is huge! .. really happy about this!

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I am not familiar with that, what was @steemfund?

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it was an initiative to crowdfund small projects with votes.. we also gave out some loans.. I am happy the account will remain alive and I am sure they will give it good use.

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You deserve a thank you for getting this handle, trying to do crowdfunding with it and then selling it to a big boy. You will now be part of the history of steemit!

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Hey @chitty....how much did you sell it for? comeon you know everyone here wants to know. Educate us on what he offered, or did you give an asking price?

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Up-Voted for rolling steem account to bring in greater value to all on Steemit.

Whatever new roads this will lead to, I am on it with all of the steemians around here.... there seems to be a lot going on in the blockchain and currency worlds around us - adventures times we are living in.. and curious to see the outcome... Cheers from the Seven Mountains in Germany

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It is so true,the road we have ahead of us is very exiting. Greetings from Latvia too! Steemit alive here too

Exactly what the ecosystem needs - funding to support the plethora of brilliant ideas that are coming from the Steemit community.

From the ibt story:

Global Blockchain and Steemit will jointly determine the ticket size and distribution of all investments, currently planned for full deployment by 2020.

2+ years is a very long time in the crypto space.

What is the ticket in the story referring to?

Is it just a coincidence that the next Bitcoin halving will also be in 2020?

I am trying to wrap my head around the potential impact of SMT's on the demand for Steem, and thereby the value of Steem.

Thank you for sharing this wonderful piece of information, excited to see where this brings steemit in the next year! Exciting times :)

sounds like a lot of bafflegab...
but from what I can gather it would seem to be a GOOD thing.
Perhaps it will trigger an increase in the price of Steem?

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That would be my hope as well.

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I don't understand MOST of what I read about Crypto.
then again...I drove a truck for twenty five years and I don't understand how an eighteen speed gearbox works...I just knew how to use it.

Same thing here...
If it works..that's all I care.

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Steem price does not seem to react to market news.

You know this opens a whole new profession of web designers integrating SMT systems into existing Wordpress sites! Gotta be a bit tech savvy for that I imagine!

Great News...

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Yes, really great news! Go Steemit!

SMT smart money technology

Thank you very much for sharing this valuable information about the upcoming Smart Media Tokens @jrcornel! Im very excited about this new feature and I will help Steemit to get more attention in the cryptocurrency market for sure.

  • upvoted & resteemed

awesome news! bright future ahead!

Steem is sleeping giant. If confirm we could see many initiative like this coming in 2018. Strong technology, Strong community, Strong value proposition could only attract investment. BitShares is another sleeping giant in the Blockchain space. Marketcap is not the only metric to look after, activities also count as we can witness on Blocktivity the most active Blockchains... http://blocktivity.info/

Exciting new, thanks for sharing!

This post really “took me back...” This is informative!

Hi, I'm new to steemit. I really need your help, follow me !!! //steemit.com/@kravrsova

Very interesting this! Thanks for sharing, didn't see it yet :-)

Good post, I am a photographer, it passes for my blog and sees my content, I hope that it should be of your taste, you have my vote :D greetings

That would benefit us, indirectly...

Steem to the Moon.

Boi, good news. steemit finally making a breakthrough.

Thank you for sharing! Steemit has so much potential to become the next big thing 🤗

Nice post...
bcak me vote and Commenta...

Nice post...
bcak me vote and Commenta...

Great post @jrcornel and I suppose this means a great bonus for Steemit, Steem, and all Steemians that the technology moves forward to power the community. Thanks for the upbeat news

Yes. This does sound very promising. Hot off the press!

I think is time to say

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Not yet my friend...Great news, but price isn't exploding so the market says we will need to wait n see.

Great news!

Wow this is amazing!!! Steem is going in the right direction

This sounds like another way to light a fire under steemit and in similar light to the excellent post/article and white paper Jerry Banfield had over the weekend.

Thank you for sharing this. Very exciting if they indeed make $20M available for building applications on the steemit blockchain. I was very surprised to read that the blockchain is faster than both Bitcoin and Etherium blockchains.

Upvoted: 100%. Resteemed.

I do not really understand about this problem, and how to invest, we hope there is more open about this so it can be easily understood and more advanced.
I'm a beginner so I do not understand

Good read! Lemme resteem it and share it on FB. Thanks for the info! Kudos!

Any news is good news at this point. Great to see.

Very nice! Nice find

I think that this is a great move for the platform! I really think that 2018 is going to be the year for the SteemIt community, I am happy to be a part of it.

Steem Fund is creating revolution in venture capital fund for startups building solutions on the Steem blockchain to expand the decentralized social media ecosystem.
It's simply another cryptocurrency future Explosion.

Wow, amazing!

good post...please follow me. https://steemit.com/@sakib1122

very very beautifull post. I like it.
Your post is very great post.

plz help me boss

The acquisition of Esteem for the first trading company I think is a great and great development
Published and very good content
Greetings to you
@walidsalah

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steemit_id steemit.id tweeted @ 14 Nov 2017 - 05:39 UTC

Global Blockchain Technologies announces $20m fund to invest in Steem SMTs — Steemit steemit.com/steem/@jrcorne…

Disclaimer: I am just a bot trying to be helpful.

please follow & up vote me. i will follow you always give upvote

thanks for great news share

Very good content and great effort from you
More votes are being cast on him
Greetings to you
@walidsalah

Great News !!!

Awesome news!!

Very informative

This sounds like great news to me.

Nice post ...

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wooo thats great news hop steem will cross 2$

tahnks for sharing @jrcornel

Your post is very great post.And very n
beautifull post.

Congratulations @jrcornel, this post is the most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 31 and the total pending payments to posts in these categories was $1163.65. To see the full list of highest paid posts across all accounts categories, click here.

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very very beautifull post.I like it!!!

very exciting! thats what the system needs to propel more in the market.

wow... we going to go brighter of future, this is bigger opportunity to every one. even I am a new comer in the steemit but my feel was very happy and lots of proud. thank lots for every steemit elite and founder for the future great commitment. bravo

That is absolutelly great news for Steem and all the users. It will only boost the platform.
Great post, thanks for sharing!

Excellent Post .......... thanks to sharing with us

Great news, I think Steemit has a very interesting 2-3 years ahead.

I dont understand what you say because i cant speak english man :D but i upvote

It's really so informative and useful share. Hope you will share more and more

Little to no idea what any of this means. The learning curve is steep!

Thanks @jrcornel for the very useful information...

Great news.

gd news for us..

Follow me and I will follow you back @krishnabhusal

Awesome post...

Thanks For Information

thank you...... good stuff

Thank you very much for sharing with us..great information from your side @jrcornel

Wow this is kinda big right? Thank you for sharing I did not see this before.

Great new. Thanks for sharing

Am very excited to hear this good news. Good job @jrcornel. Waiting for the next update...;)

Very interesting, had it to resteem - YESS !!

good post

The future of steemit keeps looking brighter and brighter. I’m stackin steem as much as I can 😉 (isn’t a whole lot but hey at least it some) This is the only social media I use. I try and get others to join but most don’t even know about cryptos anyway. Lol. Excellent find. Resteemed!!! Maybe the steemit gurus can get in on this.

$20m fund to invest in Steem SMTs, good chance to make your cash up.... think and work positive

Congratulations @jrcornel!
Your post was mentioned in the hit parade in the following categories:

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Pls u reply me and upvote my comments

Heya! I'm wondering if that logo at the top for "Blockchain Technologies Corp" is correct. There's an actual company under that name, run by CEO Jeff Spanos, and it looks like this article misattributes their logo as Global Blockchain Technologies Corp.'s logo!

If you check out http://blockchaintechcorp.com/ you'll see that logo is already in use. You might try the logo from GBTC's corporate site? https://globalblockchain.io/

Best

Gooood job steeeeeem

Is this real? This seems like good news. lol

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Found it on two different news sources... it appears to be :)

Great news

Nice Post

2020 is not that far if you really think about it!

Hopefully this will bring more attention to Smart Media Tokens (SMT) and help speed the adoption of better ways to create and distribute quality content.

Sounds amazing. This funding program can really help a lot of startups.

Regards,
@alihassanmalik

Sounds very promising... Thanks for sharing the news!

😄😇😄

@creatr