Steem Is Going To Create Hundreds Of Billions Over The Next Couple YearssteemCreated with Sketch.

in communities •  26 days ago 


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After watching the videos from Steemfest4 and looking further into some of the projects that were presented there, it is now evident the path we are on.

I am not sure people realize how revolutionary things are here and what is about to take place. While we are all excited about the Smart Media Token Protocol, and for good reason, we should be equally as excited about Communities.

This one feature has the potential to completely change the Internet as we know it. Everything from users to advertisers to information seekers are going to see a difference. In short, we could be looking at a new form of search.

Community

To start, let us determine what a community is. How many communities are you a part of?

In reality, it is more than you think. A community is nothing more than an interest, an attribute, or a label.

For myself, just off the top of my head, I am:

Male
Gen X
American
Like baseball and football
Futurist and technologist
Met and Giant Fan
PSU football fan; SJU basketball fan
Steemian
Freedom lover, slavery hater
Anti Democrat, Republican, and establishment
80s Rock fan
Interest in Classic and Opera
Anroid user
House of Cards and Game of Thrones fan
Coffee addict
Ex Booze hound
Weight lifter
Beach goer

As you can see I just shot off 25 or so. Each of these could possibly be a community. The reality is that we each fit into few hundred of them. We all have a diversity of likes, experiences, and attributes.

So how big a market is this?

Using Reddit as an example, according to Wikipedia, there were 1.2M Subreddits as of July 2018. Of that total, 138K were active.

https://en.wikipedia.org/wiki/Reddit

With approximately 300K monthly users, it is obvious that the community idea holds a great deal of attraction to people. Also, anyone who did research on any major topic most likely entered a Subreddit. It is a great way to find out information.

On its own, this is a very powerful concept.

Networks

Another term for community is the "network".

Today, because of the expansion of technology, we usually think of network as one that is created for our devices. For example, we use the network at work or our home WiFi. This is only one form of networks.

I think it important to cover the three aspects as it pertains to this.

The second layer of the network idea is not only the hardware that make it up but, also, all the applications that go with it. For example, Apple has a very strong network with the infrastructure coupled with the app store it assembled.

Finally, we can add in the users. They are a network of people. They all come together for a particular idea. In the Apple example, it is to use the Apple products and services. For the a Chamber of Commerce, it is to foster better local business relations.

Networks obviously have a lot of value as Reddit proves. The company is worth billions. Not bad for a site that is basically nothing more than a place to post links. It just shows there is great value in giving people to ability to assemble while finding the information they desire.

What separates Steem from this is the unleashing of another layer that will completely alter the landscape in my opinion.

While networks have great value, markets are worth even more. When a network becomes a market, what is created goes up in value exponentially.

Communities that are tokenized instantly become markets. Thus, built in at the base layer is the ability for anyone in the community to transfer value without the use of a third party. Commerce is now an integrated component.

The Potential

Let us look at Communities from the commercial perspective. Take as an example the Alabama Crimson Tide Football community. This is a popular college team and could easily have 500K members. Obviously, not all are active or going to do a lot of posting but it is a location to find people associated with that interest.

What if I own a bed and breakfast near the college? Obviously, for the Auburn game, I have little to do since the rooms will be booked. However, what about a lesser matchup like the Kentucky game? Perhaps that does not get the attendance and I need to fill a few rooms. I could go to the community and try to make them aware of what is going on.

If I am offering a special, I can put it on my website. The question is how do I get them there? In this instance, I use the token I created for my Inn. This is not a token that is meant to get rich but one for marketing. I airdrop a token to each of the 500K people with a link to my website. This could allow me to bring in some traffic. I could even offer the discount to only those who stake a certain number of tokens. We also could set up levels for other discounts or preferential booking.

Another way could be straight forward advertising. A company could place ads on the community site. This could be a revenue stream for the community owner. However, forward-thinking individuals will do something to benefit the community with that money. The most obvious is to use the proceeds to burn tokens. This increases the stake everyone has in the community.

Consider the fact that a community will have members who are being paid each day in the token. In other words, you have a bunch of people who are getting money, what are they going to do with it? Obviously, some astute entrepreneur could set up a marketplace catering to that community. Here we could see goods and services sold. Of course, there is no limit to the number that could be set up and linked. A large community could have dozens of marketplaces with all kinds of different offerings.

Now, expand this. What if there are 10,000 tokenized communities of varying sizes. We essentially have 10,000 markets with a token that is freely traded. That token can be converted to any of the other 10,000 to allow access. In addition, if 20% of them have marketplaces (stores), this opens the door for a lot of economic activity.

We could even go big money. How about real estate? This could get very specific, say, "Miami Beach Real Estate". Obviously, everyone associated with this market would have an interest. Buyers and sellers could come together. Contractors could participate as a way to foster relationships with developers and other heavy hitters.

And then there is the cross community applications. What if I developed an app that could settle real estate transactions via blockchain? I certainly would be wise to advertise/promote in the different real estate related communities.

As we can see, this all brings up some entirely different scenarios. We are going to see thousands of tokens established over the next few years. The number of use cases will be only limited by the collective imagination.

By providing most of these the market component, we could see a massive explosion in the way commerce takes place. I can foresee a shift towards this model very easily. There will be many reasons for people to come together since motives will vary. However, the bottom line is the applicable benefits are too much to overlook.

The turning of networks into markets (or mini-economies as @roadscape called it) is very powerful. Without the need for a third party to complete the transaction, people are free to assign value to whatever they see fit while eliminating the friction usually associated with commerce in this manner.

It is all a novel idea that has enormous potential.


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I think it's interesting how people think protocols like ERC-20 and SMT dilute the value of the main chain. It clearly does exactly the opposite. The problem is that it creates so much value and FOMO that the price action bubbles and most people who jump on the train at the last second get burned hard and assume the entire system is broken...

It's so valuable it tricks everyone into losing their money.

So weird.
The fishtails will continue.

The power of communities could be amazing.

@r0nd0n and I were discussing this a bit last night. His position is that no matter how great the technology is, the barrier to entry created by the difficulty of having your own keys and being responsible for them will always prevent crypto applications from becoming as popular as mainstream, centralized applications.

I'm a bit more optimistic that the key system can be made more user friendly.

Time will tell.

I tend to agree with you.

My experience is that technology is always difficult and too complex in the beginning. I remember, in the mid 1990s, learning CorelDraw to do some pieces for a marketing project I was putting together. What a nightmare that was. One had to be part computer scientist/part graphic designer.

How easy was the Internet before web browsers? Computing was a challenge before Windows. Hell, there was even a time that knowledge of JS was required to set up websites.

There is no reason to think that ease of use will not enter this industry also.

We have to get these concepts out into the world but almost completely hidden by absolutely amazing UI. Once the User Experience, for both end users AND the community owners is seemless this takes off. Think of the process of starting a new page on Facebook. It needs to be that easy and flexible. When we get that we'll have massive growth.

This can most definitely be done.

I agree.

It will take more development. The UI is the next step in the process although the fact that communities will be instantly be integrated into Steempeak is encouraging. That UI has a lot going for it.

And every part of the growth requires Resource Credits. Generating possibly huge demand for Steem Power.

Bingo.

It is amazing how people still miss this vital point.

!trdo

It looks really promising and will turn this place into more of a reddit style and give content a chance to be found even after the 7 day period and for more people to interact with content. I'm keen to see how communities gobble up resource credits and lock more steem as steem power

  ·  26 days ago Reveal Comment

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@tipu curate

Upvoted 👌 (Mana: 10/20)

truely said. as the early adoptors of crypto and steem, we all are going to earn a lot with steem.

Steem is really much bigger than steemit !!! we must realize this

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Greetings appreciated @taskmaster4450.

It is interesting to discuss the concept of community since it would surely involve different factors depending on the subjective vision of each one.
I think the idea of ​​interconnected nodes is very close to the basis of the concept. But why would these nodes be interconnected if they did not share interests? if it weren't because they complement each other?

Then the community goes beyond the concept of a simple network.
I consider that there is also a supraphysical factor involved. I believe that there must be cohabitation of feelings between the members.

Commerce is now an integrated component.

Undoubtedly, a community without a native currency or at least without a system that allows monetizing is no longer striking for many. We can see how Facebook is in a race against the clock to implement its token.

Token creation is at a level of chaos and deepens every day. Everyone wants to monetize, everyone wants to tokenize. More than half of the existing tokens currently have no value and lack real utility.

But undoubtedly we all feel inspired by the idea of ​​global and borderless free trade that grows on the basis of the Blockchain.

All best, Piotr.