While everything said in the article is true, it does not cover the most important element SMTs bring. SMTs will not only be created by companies for their specific community or Dapp, they will also be created as currencies, which don’t have an associated Dapp but can be used in any of them (if implemented by the devs) or outside of them in normal life (like bitcoin or usd).

Additionally these currencies may choose to reward some users for some actions, so it’s a controlled inflation. A creator of an SMT can play the role of a central bank, where he chooses the rules of inflation. Instead of only enriching the government, inflation can become a way to incentivize productive behavior.

Of course it would be extremely hard to create such a currency. But I expect these currencies to be created with all kinds of rules, in a random manner. The bad ones will fail, the good ones will survive and grow in adoption.

Only time can tell what kind of super currency can emerge through that process, and if a proof-of-brain model that helps spread a currency even exists.

If it does, then it’s going to go big, very big.

Posted using Partiko iOS