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RE: Smart Media Tokens: Why We're Doing It [VIDEO]
With SMTs implemented Steem can reach over 1 billion of people in a few years.
5-10 years from now, maybe even less.
With SMTs implemented Steem can reach over 1 billion of people in a few years.
5-10 years from now, maybe even less.
Thanks for your response. My question for you then is, how do you know this?
How will SMTs allow a billion users? How will the use of a media token supplement the running (or hosting) cost of a user? The thing is, if it costs even 50 cents to approve a user, that would equate to $500 million to host 1 billion users.. My curiosity is taking me over :D
Let me know your thoughts, and why you think so.
The "cost" of user creation is actually nearly nothing, fees currently charged for it are a spam reduction mechanism. Ease of account creation is being addressed in the next hard fork.
As for how SMTs will reach a billion users, consider this. Currently only users of steemit.com and a few other sites have access to steem blockchain, while with SMTs anyone can create a custom token, do an ICO and integrate into their business. Users of that token may never need to go to steemit.com at all.
Basically SMTs allow people to take Steem blockchain with them to whatever they are doing instead of having to come to steemit.com to use it.
Steem blockchain will now come to them and become integrated into websites and businesses they already interact with.
There is hardly a chance for a billion steemit.com users, (who needs another facebook?), there is a good chance for a billion+ steem blockchain users because they will use it with sites, programs, games, businesses, .. whatever, in the form of SMTs.