With SMTs there is no need for making steem account in the first place. Issuing excell token would be as simple as have somewhere to store it on your site and that's it - later they can start asking
how do we trade that?
head over to that exchange -
create steem wallet... blah blah blah.

That's how I see it.

And I would really love to see some online journals using SMT while fighting propaganda and censorship in their countries. :)