Steemit Introduces New Way To Monetize Media And Publishers

Blockchain Trailblazer Enables Cryptocurrency-powered Alternative To Content-hosting Paywalls And Subscription Fees

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Steemit, has  announced the launch of a new cryptocurrency product that will seamlessly connect content-hosting websites to new revenue streams, consumer bases, and development opportunities.

This fall, Steemit will release new software that allows top publications, mainstream publishers, and social media platforms to create native tokens based on the Steem Blockchain, allowing companies to integrate a customizable and intelligent token system into their website, portal, or platform.

The protocol enables anyone to launch Smart Media Tokens (SMTs) for their website, app, or community, from The New York Times to Subreddits to an independent WordPress blog, with the potential to create transaction revenue in ways that paywalls and subscriptions continue to come up short. SMTs are designed to reward publishers and consumers with native tokens based upon their contributions to the platform, based on likes, votes, views, shares and comments.

CEO of Steemit Ned Scott said,:

“Print is dying, ad integration is inefficient, distracting, and generally unwanted by consumers, all of which has led to a widespread battle to monetize content. SMTs represent the new frontier of a tokenized internet. We are going to see native tokens across thousands of mainstream websites where content is curated by the crowd, and publications and content hosts can establish dedicated revenue streams to allow richer and smarter content targeted directly to a user base.”

SMTs will be a native protocol on the Steem Blockchain, one of the most scalable and efficient Blockchains in the industry, allowing content publishers of any size to implement revolutionary new revenue models based on consumer engagement and interaction.

The Steem Blockchain is faster and larger than the Bitcoin and Ethereum Blockchains combined. It has 3 second block times with zero fees (a feature SMTs will share), and is capable of quickly processing the large number of micro-transactions required for any media entity across the globe.

SMTs can be run by any publisher without changing any website infrastructure or functions. This marks a significant step toward bringing Blockchain and cryptocurrency to mainstream media in an accessible and attainable way, breaking down barriers to enter the fastest growing industry in fintech, while creating a mutually beneficial bridge between consumers, content, and media revenue.

Scott said:

“Steemit represents the future of the internet and SMTs are how we will deliver that token-infused future for many, many more websites. Any website, application, community, or guild will be able to launch one of these tokens and integrate with various web interfaces in seconds. These tokens will be far-and-away the most user-friendly, inexpensive, secure and, most importantly, monetizable way of launching your own coin, fundraising for an organization, growing your community, and generating revenue for your enterprise.”

Steemit has experienced exponential growth since its launch in May 2016, with hundreds of thousands of users on the platform.  For more information visit smt.steem.io and you can read the full whitepaper here.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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