Exchanges And MarketplacessteemCreated with Sketch.

in exchanges •  8 months ago 


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We are seeing the foundation of this industry being laid.

To reach mainstream adoption, we will have to see a lot of bricks put in place. As time goes by, we will see the evolution which makes it easier for people to use what they accumulate.

Probably the biggest question asked by those outside of cryptocurrency is "what can you do with the tokens". While we tend to come up with a lot of answers, they tend to not be sufficient for those who are not eyeball deep in this industry.

Having Steem-Engine tied to the Steem blockchain is a great help. It provides a place where tokens can be swapped for other ones. Right now, this doesn't offer much other than the opportunity to get involved in projects that one is more optimistic about.

When we see marketplaces starting to show up, this all will take on an added meaning.

Take, for example, the one that was announced in coming to Steemleo at some point. It is likely that the LEO will be the token accepted. It is possible that a dual currency system is run with STEEM also being used in the marketplace.

This marketplace enhances the value of every other token that is tied to the ecosystem.

A Steemleo marketplace, or any other, provides a path for token use via the exchanges. Under that scenario, whatever token is earned can be swapped into the currency used on the marketplace.


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It is a concept people can understand. The masses are typically not investors or technology people. They are, however, consumers. Giving people an opportunity to spend is something they jump at. We see trillions in consumer debt that shows that people will spend what is given to them.

With Steem, there is the opportunity to earn a multitude of different tokens by using many applications or participating in a number of tribes. Telling people they can spend the tokens they earn in a multitude of online stores would go a long way to answering the biggest question people have about cryptocurrency.

Spending is a necessary component of any economy. The Steem economy is going to include spending in a multitude of tokens. We are going to see a lot of online stores tied to the different platforms, all that can be accessed through the exchanges. This enables all tokens to be spent in any of them.

The interconnected nature of cryptocurrency cannot be overlooked. It is what is going to enable the expansion and growth of the entire ecosystem. As one project grows, everything else is brought forward.

It will be interesting to watch the dual development of exchanges and marketplaces. They are an integrated part of each other in the world of crypto.


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exchanges and marketplaces are a great place to start. However people need to actually spend the tokens on things.
Take for example spending tokens to buy Steemmonster (splinterlands) packs.

I feel spending on in game items will be a great 1st step. Gaming has always driven the computing industry.

What about holding conventions and merchants accepting the tokens as currecny to buy IRL items. I manufacuture good and would do this.

This also goes to the concept of burning tokens, as a merchant or game could take the tokens and be required to hold for a set time. This would remove from the active pool.

Just some thoughts.

Exchanges are great but the end gain i get for 'spending" the token is the most important step. Right now everyone seems to be trading token for token.

i don't have the answer but love having the conversation as together we can come up with a use case.

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