Is Mark Zuckerberg going to launch a Smart Media Token for Facebook?
It's the spring of the year 2019. Facebook CEO Mark Zuckerberg has just announced his plans to launch the FacebookCoin as a Smart Media Token (SMT) on the Steem blockchain. The price of Steem skyrockets to over $500 on all popular Bitcoin exchanges such as Bitfinex, GDAX and Bitstamp. Facebook plans to integrate their FacebookCoin into Facebook later this year so users can earn the cryptocurrency in a similar way as on Steemit.com.
Ok... Back to today. We're not there yet, but Mark Zuckerberg wrote something very interesting on his Facebook profile today.
Source: https://www.facebook.com/zuck/posts/10104380170714571
He wrote:
There are important counter-trends to this --like encryption and cryptocurrency -- that take power from centralized systems and put it back into people's hands. But they come with the risk of being harder to control. I'm interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services.
He is studying the positive and negative aspects of cryptocurrencies and how best to use them in his services.
Mark, if you're reading this... Stop reading and give @ned a call. He knows how you should monetize Facebook. Launch a Smart Media Token!
What are Smart Media Tokens (SMTs)?
A Smart Media Token (SMT) is a native digital asset on the Steem blockchain that can be quickly launched by anyone to help monetize online content and create incentives to encourage desired user behavior.
They're like Ethereum's ERC-20 tokens, but with certain built-in ‘Proof-of-Brain’ properties and a token distribution reward system designed specifically for digital content businesses.
Source: https://smt.steem.io
News sources:
Mark Zuckerberg is 'studying' cryptocurrency, which could help Facebook catch Asian rivals
Facebook CEO Mark Zuckerberg expressed his interest in crypto currency and its potential uses in his 2018 mission statement, issued on Thursday.
Read more: cnbc.com
Zuckerburg to Study Cryptocurrency in Quest to Decentralize Facebook
Facebook CEO Mark Zuckerberg announced Thursday he plans to study cryptocurrencies and other decentralizing technologies as part of a larger bid to improve the social networking service he co-founded.
Read more: coindesk.com
Mark Zuckerberg Says Facebook to Look Into Cryptocurrency
Facebook Inc. Chief Executive Officer Mark Zuckerberg gave cryptocurrency enthusiasts a little optimism for the new year.
Read more: bloomberg.com
Well, it would be not very smart to believe that Mark Zuckenber is not able to understand ( and appreciate) the power and benefits of blockchain and decentralization. He sure is having this in mind for quite some time. If he does not speak open and in public - it does not mean nothing is already cooking "behind the scenes" Sometime even small innocent word phrase can be a good indication of this process.
Well done, @penguinpablo 😉
P.S.
I am accumulating steem ( steempower) since my DAY ONE here. Everyday.
Is this not a good entry point? Almost perfect...
Like he said : many people lost faith in that promise.. agree on that one! power in the peoples hands uhu sure...
Of course now they all wanna join when the word gets out , this is exactly what I’ve been waiting for and it happened sooner than later . Steem is growing more and more everyday , people who don’t become part of it will loose out
Is the Steem price tanking on this news? (fear for competition if FB creates their own token) or just because BTC is trending up again and takes value back from alts?
Probably more due to Bitcoin going up, most altcoins are down today against Bitcoin.
You had me there for a second. I was about to jump out of my seat and shout out for Joy.
This an important news for all of us. Thank you!
Steem needs to roll out the SMTs quickly, if they can get momentum and attract attention, they can beat Facebook to the mark.
A centralised business model with shareholders to pay, will never be able to compete with a decentralised platform the profits from content with the token holders and users (such as Steem and the SMT model).
STEEM ONTO $100
Mark Zuckerberg and his people at Facebook are surely aware of the various developments concerning blockchain technology. They are closely watching social media platforms like Steemit and dtube to ensure Facebook will keep its users.
Even though he must be pleased with the revenue FB has been getting, Zuckerberg should be aware that ever more people are getting drawn to the idea of users being rewarded for their posts and comments - something which FB doesn't provide for. If this gathers momentum, there will be a very serious challenge to FB.
I believe it's only a matter of time before Facebook comes up with something like Steemit's model. However, it is very likely that Facebook will choose to develop its own version of SMT. Or maybe buy over Steemit lock stock and barrel to have immediate control over what is already in existence. Then add to this.
But whatever FB decides, I believe the future will be towards platforms like Steemit. It's time for content to be monetised and the rewards more fairly distributed.
He wants to decentralize it, but still be in control, messed up big time
Thats what i was thinking. Now that he even mentioned it, he will lose users. People are now aware it can be done, others won't like changes to facebook, and if it goes Blockchain style people will be jumping ship in the 20-35 percent range. If people understand the blockchain thing and how private family stuff its not the best, hobbies and idea's are best from a humans point of view.
They're probably gonna do their own thing. They have the devs and the money.
Just my thoughts. J
it's almost impossible for facebook to decentralized their system. Steemit is a great alternative