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100 Steem Bounty: What is the solution to a lack of SMT development?


9 months agoSteemit3 min read


So now that we know that SMTs may not come at all or maybe in a limited way, my question really is: what do we do if we need SMTs but they are not coming.

I see the following possible solutions:

1. Development Fund

Steem rallies and comes up with a way to pay for operations and development. This would require some type of fund that can pay for developments and a way to distributes such funds. They could then be used to pay for teams to built certain things. I could see this work with a HF that distributes some of the inflation money for development and a way for SP holders to vote on who shall receive the funds for what projects.

This decentralized way of doing things may lack leadership and not work for truly big development tasks such as SMT's.

A better way may be that the witnesses suggest a distribution of funds for a project that then gets approved or rejected by other stakeholders i.e. by requiring a x% of approval vote.

2. Other blockchain

Use some other blockchain token in conjunction with steem? I can imagine that if you were to run a project on steem and wanted to have a token with it, to simply use a different blockchain and manage the token in parallel. I can see how this may cause some technical issues because we now need two blockchains that understand each other. This could be done via a centralized party in between, that may work for many projects. Maybe there is some

3. What way do you see?

I would love to know your opinion especially if you are running or had planned to run a project on top of steem.

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