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RE: Building the Economic System - "Digging deeper into Steem" (Part 2)
Another way to perhaps drive external demand for Steem would be to use it in a payments system that facilitates automated distribution of revenue generated from collaborative projects (if transaction costs are trivial, and there isn't too steep a learning curve). Every band looking for a fair way to make money from album downloads and have it automatically distributed to its members according to a prearranged formula would want to get in on that!
Great insight, I think something like that's on the cards, it would be a smart contract.
For further reference check out a post by @dantheman
https://steemit.com/steem/@dantheman/how-anyone-can-build-custom-apps-on-steem-right-now
Also check out this post
https://steemit.com/music/@thisisbenbrick/can-steemit-and-the-blockchain-kill-spotify