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What is this? Good Person Token/Oracle/Account Based Voting?

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cryptoctopus
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last yearBusy3 min read

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Hello everyone

@ned dropped this infographic into the Smart Media Token telegram the other day. (which only has about 500 people in it...you should check it out.)

So what does it all mean? Here is my take and please feel free to drop your thoughts below.

The Good Person Token

This is going to be a token issued by Steemit Inc that will be distributed to people who are whitelisted as being a unique person. Other Oracle Enhanced SMT will be able to leverage this whitelist so that they can do account-based voting rather than stake-weighted voting. I have yet to understand how this is going to be distributed and dealt with on the GUI...but word on the street, there is a whitepaper is on the way.

Account-Based Voting...Why?

Finding what is popular and trendy content is impossible using stake-weighted voting. The community has been complaining forever about how the trending section is kind of a disaster. In the past, it was just Steem related stuff and now it's just a display of the highest bidder on bots.

With account-based voting, it is only through having a lot of people enjoying your content and voting as unique individuals that you and I will be able to make money. It will be a "one person one vote situation"...which will make a new user as valuable as an old timer.

Superlinear + One Person One Vote

This will complete change the game of who and how people earn SMTs. Right now, in order to acquire tokens, one must have either backers with lots of SteemPower or bid on a bot. How popular or how many people vote on a given post is irrelevant.

When the One Person One Vote situation will be live, people like @hodgetwins with millions of followers will have a huge incentive to migrate all the fans they can unto something like steemit.com or d.tube. They will be the whales and the top earners on the trending page...just as it should be.

The game will change so that the main goal will be to acquire as many loyal fans as humanly possible.

Conclusion

As with anything Steemit Inc talks about, I'm very curious to know WHEN we will be able to see this development online. To be honest, I've been waiting for hivemind for well over a year now and I still don't see it happened any time soon. So patience is the word of the day for me.

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