Just stumbled across this news announcement. Looks pretty exciting. The entirety of it can be read below:
The blockchain investment company establishes major joint venture to bring funding to startups building on Steem.
Global Blockchain Technologies Corp. has announced a non-binding agreement to create a joint venture with Steemit Inc, to establish a $20m Steem Fund.
The Steem Fund is a venture capital fund for startups building solutions on the Steem blockchain to expand the decentralized social media ecosystem.
Investments from the Steem Fund will be comprised of both Steem tokens tradeable on liquid exchanges and through traditional US dollar investments.
The Steem Fund will be architected to support the accelerated development of applications based on Steem's Smart Media Token (SMT) protocol, allowing native tokens based on the Steem blockchain, said a statement.
SMTs are a technology that allows individual organisations and companies to integrate a customisable and intelligent token system into their website, portal, or platform, it said.
Global Blockchain Technologies Corp. CEO Rik Willard said:
"We're proud to be the first publically traded company to make a significant investment in the Steem ecosystem. No current open source and public blockchain protocol is more mature, scalable, and as rapid as Steem."
We are convinced that traditional media companies from every corner will find that Steem's technology will be a better way to monetize and distribute existing content and future works."
CEO of Steemit Ned Scott said:
"Today's announcement makes the future for Steem brighter than ever. The Steem Blockchain is faster and already larger than the Bitcoin and Ethereum blockchains combined, and working with Global Blockchain Technologies Corp. is going to exponentially increase the number of applications built on Steem in an accelerated amount of time."
Steem's Smart Media Token (SMT) protocol is native to the Steem Blockchain. SMTs can be run by any publisher without changing any website infrastructure or functions, breaking down barriers to enter the fastest growing industry in fintech, while creating a mutually beneficial bridge between consumers, content, and media revenue.
Global Blockchain and Steemit will jointly determine the ticket size and distribution of all investments, currently planned for full deployment by 2020.
http://www.ibtimes.co.uk/global-blockchain-technologies-announces-20m-fund-invest-steem-smts-1647127
http://paymentsjournal.com/global-blockchain-technologies-corp-announces-20m-fund-invest-steem-smts/
I am a bit surprised I haven't seen anyone talking about this yet, but if it's legit it sounds pretty exciting to me!
*Update: Ned tweeted the PR, which means the news is legit. Pretty exciting indeed!
Follow me: @jrcornel
Thanks for sharing! Hot info.
Awesome bro!..
-----it ------------
Is it hot ? For me, its great news :)
yes plz vote for me
as hot as hot as hot info ..!
Thank you for posting jrcornel.
Such good news....Zappl plans on using SMTs as well....
All the best. Cheers.
plz vote for me
Anyone and everyone who has come across the steem blockchain and steemit can easily recognize the potential and credibility in the idea.
I've been on the lookout for announcements like this ever since I got to know the entire steem and steemit community better. I believe more of this is to come
I wouldn't be surprised if steem surpasses bitcoin and ethereum
The best part to me is the cred given the Steem Platform for having the first ‘publically traded’ company invest. If true, a nice development. Waiting for a confirmation from Steemit.com
Yes, that part jumped out to me as well. Surprising we aren't hearing more chatter about this news release, yet.
Me neither! Waiting for confirmation from @ned!
Ned shared this link, so I think it is a confirmation:
Awesome, thanks for sharing! It looks like he tweeted the news from his twitter account as well. Legit indeed. :)
Oo awesome info :)
Really great news, I remeber selling my @steemfund account to Blockchain Tech Corp´s President.. I never imagined that this would be the project that he had in mind!, is huge! .. really happy about this!
I am not familiar with that, what was @steemfund?
it was an initiative to crowdfund small projects with votes.. we also gave out some loans.. I am happy the account will remain alive and I am sure they will give it good use.
You deserve a thank you for getting this handle, trying to do crowdfunding with it and then selling it to a big boy. You will now be part of the history of steemit!
Hey @chitty....how much did you sell it for? comeon you know everyone here wants to know. Educate us on what he offered, or did you give an asking price?
Up-Voted for rolling steem account to bring in greater value to all on Steemit.
Whatever new roads this will lead to, I am on it with all of the steemians around here.... there seems to be a lot going on in the blockchain and currency worlds around us - adventures times we are living in.. and curious to see the outcome... Cheers from the Seven Mountains in Germany
It is so true,the road we have ahead of us is very exiting. Greetings from Latvia too! Steemit alive here too
Exactly what the ecosystem needs - funding to support the plethora of brilliant ideas that are coming from the Steemit community.
From the ibt story:
2+ years is a very long time in the crypto space.
What is the ticket in the story referring to?
Is it just a coincidence that the next Bitcoin halving will also be in 2020?
I am trying to wrap my head around the potential impact of SMT's on the demand for Steem, and thereby the value of Steem.
Thank you for sharing this wonderful piece of information, excited to see where this brings steemit in the next year! Exciting times :)
sounds like a lot of bafflegab...
but from what I can gather it would seem to be a GOOD thing.
Perhaps it will trigger an increase in the price of Steem?
That would be my hope as well.
I don't understand MOST of what I read about Crypto.
then again...I drove a truck for twenty five years and I don't understand how an eighteen speed gearbox works...I just knew how to use it.
Same thing here...
If it works..that's all I care.
Steem price does not seem to react to market news.
You know this opens a whole new profession of web designers integrating SMT systems into existing Wordpress sites! Gotta be a bit tech savvy for that I imagine!
Great News...
Yes, really great news! Go Steemit!
SMT smart money technology
Thank you very much for sharing this valuable information about the upcoming Smart Media Tokens @jrcornel! Im very excited about this new feature and I will help Steemit to get more attention in the cryptocurrency market for sure.
awesome news! bright future ahead!
Steem is sleeping giant. If confirm we could see many initiative like this coming in 2018. Strong technology, Strong community, Strong value proposition could only attract investment. BitShares is another sleeping giant in the Blockchain space. Marketcap is not the only metric to look after, activities also count as we can witness on Blocktivity the most active Blockchains... http://blocktivity.info/
Exciting new, thanks for sharing!
This post really “took me back...” This is informative!
yes, yes and yes.
I think is time to say
Not yet my friend...Great news, but price isn't exploding so the market says we will need to wait n see.
Wow this is amazing!!! Steem is going in the right direction
Get rid of the bots!!
great job!
This is awesome, it will open up the market to so many people that the possibilities are endless, from month to month I'm happier to see that people are shapping the world so that every person from whatever social status have the opportunity and resources to make not just a living, but to change completely his/her life and become all that dreamed of.
This business model will completely revolutionize the business WORLD.
For an indefinate number of times in the last years I've been listening the experts tell that until 2020 there will be the greatest money shift from hands to hands of the century, and until now I wasn't able to point a finger to what would be the biggest responsible for that.
Now I feel I can risk it by saying the blockchain based businesses are what is going to give everyone that chance.
Thanks for sharing this amazing post @jrcornel
Keep on! =D
Very interesting this! Thanks for sharing, didn't see it yet :-)
That would benefit us, indirectly...
The future of steemit keeps looking brighter and brighter. I’m stackin steem as much as I can 😉 (isn’t a whole lot but hey at least it some) This is the only social media I use. I try and get others to join but most don’t even know about cryptos anyway. Lol. Excellent find. Resteemed!!! Maybe the steemit gurus can get in on this.
This sounds like another way to light a fire under steemit and in similar light to the excellent post/article and white paper Jerry Banfield had over the weekend.
Thank you for sharing this. Very exciting if they indeed make $20M available for building applications on the steemit blockchain. I was very surprised to read that the blockchain is faster than both Bitcoin and Etherium blockchains.
Upvoted: 100%. Resteemed.
Thanks For Information
That is absolutelly great news for Steem and all the users. It will only boost the platform.
Great post, thanks for sharing!
wooo thats great news hop steem will cross 2$
tahnks for sharing @jrcornel
Upvoted...and re esteem please upvote and re esteem me..
Really very good news for all us and all steem it user,,may be good day is coming
I upvote and comment ur post.
Pls u reply me and upvote my comments
Very nice! Nice find
Sounds very promising... Thanks for sharing the news!
😄😇😄
Thank you very much for sharing with us..great information from your side @jrcornel
2020 is not that far if you really think about it!
Awesome news!!
Is this real? This seems like good news. lol
Found it on two different news sources... it appears to be :)
Nice Post
Hopefully this will bring more attention to Smart Media Tokens (SMT) and help speed the adoption of better ways to create and distribute quality content.
Good post, I am a photographer, it passes for my blog and sees my content, I hope that it should be of your taste, you have my vote :D greetings
Steem to the Moon.
Boi, good news. steemit finally making a breakthrough.