This post is dedicated to my friends from the memory sports and memory coaching community. To all the world memory champions, to the Grandmasters and the International Masters, to the national champions and all the memory world record holders. Our mutual future is called Smart Media Token and it will be our very own Memory Money!
For over one year now the blockchain-based cryptocurrency called Steem is running Steemit and other apps to reward the content producers for their work and boost user engagement through rewarding comments and curation as well. At the same time the speculative value of Steem is doing well and has already more transactions per second than Bitcoin - without any fees or delay!
It sounds all too good to be true, doesn't it? Well, the numbers speak for themselves: Steemit has become the top 2.100 Alexa ranked website in the world with over 350k registered accounts and millions of views each month. And this has happened during the still ongoing Beta phase without any marketing from Steemit inc. so far (which probably changes this year).
Steemit has changed the lives of thousands of people around the world - including my own. I can now live entirely from producing content by sharing it on Steemit. And this is just the beginning. In this ecosystem people are instantly rewarded for their work and even have the the very good chance that the value of Steem is growing over the next few years. I have never seen such powerful communities like here on Steemit and new ones pop up daily.
On September 28, 2017 the CEO of Steemit inc. Ned Scott aka @ned announced the Smart Media Tokens (SMT) based on the Steem blockchain. These will allow everyone to easily create their own cryptocurrency and even run an Initial Coin Offering (ICO) to collect funds for the project. This is a big deal since so far most ICOs ran via the Ethereum blockchain which pushed up the price of Ethereum in the process. The same will happen to the price of Steem and it has already begun since the announcement.
You will be able to integrate your token into your existing websites and businesses and reward users, clients and staff with upvotes and token distribution for their work. It will create quickly a new form of interaction you have never seen before on your content. It happens on Steemit and it will happen with such a token as well. The more people who use the token the more valuable it becomes.
It is not just a way of rewarding but a form of binding everyone closer together by creating a tight-knit community that rewards each other without loosing money in the process. The more tokens they have the higher their upvotes will be. There are so many ways to monetize owning this token it is incredible.
This is where the memory sports, training and coaching community comes in. If we combine our power and build our own token with an ICO at the end of 2018 we could forge the most powerful tool we ever had as a community. We could use the funds to build amazing tools for championships, training and memory businesses, plugins and APIs for your websites to easily integrate it to your comments and maybe posts as well.
We could also distribute part of the points to trusted members of the community who have either achieved something in memory sports or dedicated much time to organize events. It would be a way to reward volunteers and arbiters as well. We can integrate it all in our websites, forums and blogs and immediately grow closer together while all earning money in the process.
Now comes the clue: We can reserve part of the funds generated through the network and rising price through demand to finance a) championships and b) free training for schools and universities. We literally can pay our coaches who invest their private time to help to spread the word in the education sector with our tokens.
If we all work together and integrate this new form payment and reward system into our community we will build something of value that will have the potential to get big and beautiful. This token could boost our community and businesses in marvelous ways. Let us all work towards this goal and discuss over the next couple of weeks ideas and concerns. I will then come to the World Memory Championship in Indonesia on December 3rd and invite all coaches, organizers and champions to discuss it further in private.
Let us join hands and build the future of memory techniques!
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