Snows, SMTs and the coming Spring

Let it snow, SMTs here we go.

so, the SMT testnet is up and running, something I think many people have been waiting to arrive for a couple years at least.

While I don't think they are an immediate panacea for all things challenging Steem, I do think that as developers come to terms with how they can be used, they will proliferate. While still on Steem, each token can carry its own rules of how it operates and how it is distributed and hold configurable attributes that can be used to complement the users.

I am hoping that in time they will be used to tokenize the Internet and make crypto much more human friendly as they integrate into websites and communities that already exist. I reckon they could be used to gamify and help make a popular website more dynamic whilst simultaneously onboarding users into the mindset of crypto, blockchain and content and experience ownership.

I think that if the developers are able to apply them well and if a few decent communities are able to integrate them early enough, a strong crypto bullrun would see a great deal of interest across all crypto projects, especially those who offer new users a chance to earn without having to go through all the learning curve of crypto that most current users did. The more that this happens, the faster the adoption cycle rolls and the quicker that critical mass point is reached that tips crypto into mainstream usage.

It is going to be interesting to see how the dynamics of all of these projects change as mainstreaming happens over what I suspect will be the next five years, as I do not think that even the most well supported projects really understand how bit it will play.

At the last bullrun the entire market was still valued at under a trillion dollars (not that everyone would ever be able to sell at the ATH prices) and the world went "crazy" with BTC and Ethereum getting mentioned daily in mainstream news and finance media. A trillion dollars is a veritable drop in the ocean in regards to how much investment capital is out there already and if coupled with a crash, who knows how much is going to poaur into Bitcoin and other projects.

At some point, the Big Boys will be over bought and then the over-spill will begin into projects that have some utility and ability to offer something unique in the market, something leveragable. Steem is one of the very few projects that offers more than speculation and, with SMTs having the ability to quickly and hopefully easily tokenize pre-existing websites, it will be a highly sought after blockchain from both a developer and investor perspective, and then user growth follows.

What I am hoping is that Steemit Inc are not just working on SMT code and hoping for people to use it, but there will also be a toolkit, instructions and support on how to integrate Steem for blockchain newbies. The smoother and easier it is to get an SMT -supported website up and running, the more people will climb aboard.

I am hopeful.

Oh, this is a post for #inktober "Snow" and since my last posts weren't about Steem at all, I thought I should add one, since my drawing is a bit crappy to stand alone. wWhat I am hoping is that soon the crypto winter will thaw and the sun will start to shine on Steem so that it can grow many new branches in the crypto Spring.

Taraz
[ a Steem original ]