At long last, the Smart Media Token Testnet is live. Developers may now build a project for their business on the Steem Blockchain. The testnet allows developers to run their project and look for bugs.
How will SMT’s change Steemit? I think once the SMT’s go live that Steemit will be a very different place. I think it will be a better place. The opportunity for entrepreneurs to tokenize their brand and their websites on the Steem blockchain will introduce an entirely new base of Steem users. Companies will be able to tokenize and monetize their sites using the Steem protocol and will be able to do so at a minimal cost. While these companies will be part of the Steem ecosystem, they will also maintain their independence by assigning their owns set of rules and rewards to their unique token.
The benefits to Steemit are obvious. Thousands of new users and an expanded user base insures more traffic. The demand for Steem power will increase as new token holders find the need for more resource credits in order to function on the Steem blockchain. The need for resource credits should result in increased investment in Steem and an overall incentive to power up.
I think many of us have maintained a somewhat myopic view of Steem over the past year. We’ve been focusing so much on Steemit that we have forgotten the bigger picture of bringing the entire internet world to Steem.
I think the implementation of Smart Media Tokens will force our community to focus on the bigger picture of the entire Steem ecosystem which has the potential to revolutionize the way we produce and view content on the internet.
I recently attempted to run an advertising campaign on Reddit. The campaign was a link to earning EOS by watching a few educational videos. Considering Reddit is the home of multiple forums on cryptocurrency, you would think the platform would be open to this type of advertising. My ad was rejected almost immediately.
As a result of this experience, I began to think about advertising on Steemit. What would advertising without bots look like on Steemit? Steemit has a built in crypto smart audience. Having a receptive base with a knowledge of blockchain and cryptocurrency should be an attractive audience for any crypto related project. Steemit is unique in that all of the Steemit users are dealing with crypto and blockchain on a daily basis. I would like to see some kind of option to opt in to advertising on Steemit.
Another possibility is offering advertising which would be paid for in Steem and then burning that Steem to help raise the price of Steem.
We are always interested in new projects using blockchain technology. As you know if you follow the crypto market, information is easy to get when the market is bullish, but seems to be more difficult in a bear market.
Blockchain radio is a great source of information for new and upcoming projects. The format is 24/7 blockchain news. We are hosting the service on our site. You may also install blockchain radio on your own website.
One of the most useful tools I’ve found for navigating Steemit is a site called SteemWorld The site includes all the stats you need to use Steemit. You can see your current voting power. You may also see the value of your vote at 100% and various other voting powers.
One of the most interesting tools on the site is the simulated Steempower tool. This tool enables you to enter any amount of Steempower in order to see how much a vote would be worth at this power at the current Steem price.
You may also see stats concerning Steem power earned by both curation and author rewards. The mentions tab will show you when and where you were mentioned on Steemit. You may also see your reputation score.
As you gain more Steempower and curate on a daily basis, you will find this site invaluable to keep up with all of your voting stats.
ProximaX offers real time solutions to business owners who want the technology of blockchain without the expense of development. Built on the NEM network, ProximaX offers the benefits of a decentralized network by integrating blockchain protocol with off chain layers.
CEO and NEM foundation founder, Lon Wong emphasizes the fact that ProximaX is more than a storage of value coin. In fact, ProximaX is a utility coin offering multiple services to business owners. Services include the application development platform, cloud storage and streaming. ProximaX also insures flexibility as the business can use their own token or ProximaX for payment.
ProximaX enables a business to almost eliminate back office expenses by cutting out the middleman. Massive data collection is a fact of life for almost any business. Data must be entered, reconciled for regulatory reporting, and passed on to the appropriate individuals. Blockchain technology eliminates many of these steps by providing a real time audit of transaction while maintaining both transparency and security.
The data gathering capability along with smart contracts and cloud storage will change the banking industry, the real estate industry, and almost any business dealing with data on a daily basis. The ability to verify reported transactions in an instant is worth a fortune to these industries.
The applications are endless.
The ProximaX Wallet
The ProximaX Wallet offers easy access to tokens and insures a payment system which encourages mass adaption. For more information visit the ProximaX Website
One of the biggest problems with cryptocurrency is getting people to actually use it in their everyday life. If you've been on Steemit for a while, you may easily overlook the fact that simple transactions
Once you have acquired some Steem, you will probably do like most people on Steemit and power up with Steem power.
Your Steem power is what determines the value of your vote on Steemit. For the first year of Steemit, most people with Steem power used it to vote up content on Steemit.
Once Steem power delegation became available, more Steemit users began to delegate their Steem power to various new Steem platforms and services like voting bots. You can delegate your Steem power and earn a return on your delegation. The return on your investment will vary depending on which project you are delegating to. In essence, you are only loaning your Steem power out for a return, but the Steem is still in your possession.
The delegation button may be found in the Wallet section of your Steem account. Once you delegate Steempower, you will see a record of the amount of the delegation. The amount with the minus sign indicates the delegation amount. One of the best things about delegating power is that you may cancel the delegation at any time. Your Steem power will take 1 week to be released back to your own account. Delegation allows you to engage and support many of the Steem platforms and projects without making a long term commitment. You may also delegate to more than one project at a time.
The returns for delegating can be quite lucrative. Delegation is a great way to grow your Steem power while exploring the many platforms of Steemit.
Deutsche bank and Allianz have partnered with car exchange Auto1 to implement blockchain technology in the auto financing industry. The new company is called Auto1 Fintech. The company will offer financing for car loans as well as insurance products.
The transactions concerning financing will all be recorded using the blockchain. The blockchain technology offers complete transparency for all transactions. Financial transactions using blockchain technology will also enable the car dealers to act more quickly on services like refinancing and loan approvals. Transactions which would normally take a few weeks are an instant process using the new technology.
Blockchain technology has the potential to almost eliminate all back office expenses. The financial industry is just one of many businesses which will benefit from the advancements made possible by blockchain technology. Any business requiring record keeping will be completely transformed by this new technology. Hospitals, where accurate record keeping is imperative, stand to benefit the most.