Maybe I’m particularly dense (a very real possibility), but I just don’t understand the Bob’s Repair game plan.
Their first Steemit post (and their white paper) sure sounds Steemcentric:
The best option to build the BOB Application is on top of is the Steem Blockchain.
But their most recent post about the airdrop of BOB tokens seems to indicate that it’s not being done on the Steem blockchain:
Bob’s Repair has been built on the Ethereum network
Nonetheless, their web site continues to refer to the Steem blockchain.
I suppose it’s possible that they’re going to use the Steem blockchain for an app but go with Ethereum ERC20 tokens instead of Steemlandia’s Smart Media Tokens. But why then say that Bob’s Repair has been built on the Ethereum network, rather than that their tokens have been built on ETH?
Can anyone here makes sense of this? Am I overlooking something obvious?
So here’s my understanding, and they did reply to me in the comments of a post...
Original intent was to use both Steem & Ethereum. Steem for blockchain based communications, reviews & ratings etc. Ethereum for smart contracts & escrow for the actual financial services.
However they are now exploring going full Steem as a possibility, as they’ve met with folks from Steemit Inc and begun to find out about the as yet untapped smart contract and escrow abilities the Steem blockchain does possess.
Edit - Heres the post with some discussion
Relevant reply was
We didn't know until this weekend that STEEM had the capabilities of escrow and smart contracts. Brandon Kite (our CTO) believes we can go full STEEM after speaking more to the dev team. When I spoke to Ned he confirmed that this is a possibility and was very optimistic. We are waiting to get access for the SMT test net so that we can really get a better understanding of the whole picture. It is looking very promising.Appics is doing the same thing. The ERC20 is being used for the ICO then it will be moved to the STEEM blockchain.
Bob's might be doing the same thing since SMTs arent out.
it being the token? That’d they somehow convert to SMTs?
Speak slowly, use little words. I think I am a bit dense.
The entire blockchain, hence the token.
ERC20 is used to do the ICO...the actually working of the network would be on STEEM just like Appics...
They will implement the same type of reward system that is present on STEEM...The ERC20 created tokens would be switched out for STEEM based tokens once the ICO is complete and the transition takes place.
A typical path for an organization that wants to use an SMT, but can't wait for the fork that includes them, is to release their token on another network (ERC20 style) with a bare minimum of capability, and then to move everything over to an SMT once it's available, including a credit and account mapping for current ERC20 holders. The ERC20 token may just be shut down or allowed to melt away.