As you are already aware or could just be getting - soon on STEEM blockchain you will be able to create tokens just like on Ethereum or Bitshares.

Video made by Steemit user @dougkarr

The news were dropped today, me and some other chosen people knew of this since some time.

The whitepaper is long, like 50 pages so i will give you a tldr.

Services that use "upvotes" or "likes" will be able to have their tokens working same as upvotes here. So if some big website decides to pay users for comments, votes or whatever automatically, from now on they will be able to do that. Their users wont even know something called STEEM is below the token they earn. This way companies will be kind of white-labeling their tokens using STEEMs blockchain.

People and companies will be able to make ICOs. STEEM has two advantages - zero fees and super fast transactions. Ethereum nor Bitshares have that. So in future people will be able to make ICOs as STEEM tokens that will be fast and cheap for everyone.

Market already reacted to the news but im not sure if everyone understand implications yet.

STEEM Markets

There is more but they have almost no volume. As you can see if you do volume trades you can buy on HitBTC and sell on Livecoin for arbitrage right now.

Downsides ?

Okay so you are all pumped up now. But keep in mind - this technology doesnt work yet, this is just a whitepaper. We do not have date when it will be implemented or how easy it will be to make tokens. Speaking shortly - this news need time to become reality but if this works as suggested - the path looks good.

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