Serial entrepreneurship and content syndication on Steem

In response to a comment from a new user in regards to the need for improved rewards for quality content, I replied:

This takes time and because it is a stake-based platform, what is interesting is currently quite narrow. However, through SMTs and communities, the supported content should widen quite a lot, the difference is that they won't be earning Steem differently, they will be earning another native token. Imagine in your workplace getting paid in Euros, but also earning Yuan, Yen and US dollars simultaneously - if people in those countries found your work valuable also. One job, 4 income Streams. While they might not all be of the same value, they can all be valuable.

I do not know if that is a good example for you to visualize, but currently a monetized account on YouTube is going to get paid via the centralized authority in one currency. I am guessing it is US dollars. There is nothing wrong with that per se, but it is interesting to think what could happen in an SMT powered world where one piece of content could be earning from many revenue streams of varying value and still getting it paid locally.

This already happens through Steem-Engine tokens now, but imagine a world where there are hundreds or thousands of SMTs across all kinds of websites with Steem economics plugged in. Remembering that Smart Media Token configuration can have many variables and do not have to behave like STEEM tokens. This means that if a single "Steem article" goes viral, it could spread through the internet and get the gains from traditional distribution, as well as appearing "syndicated" on Steem interfaces.

This would set up the possibility for multiple channels of distribution generating a collection of revenue streams that essentially automatically pull back to the originating account. Due to the blockchain mechanisms, it would still be possible to reward those who share some variable percentage of earnings also.

This means that for example an influencer sharing a post on Interface A in country 1 could generate a different revenue stream for the same content shared by Influencer B in country 2. Both influencers could earn based on their continued reach and engagement as they propel it forward, while the original creator can extend into markets that they would have no access to previously.

Steem allows for a future content creator to not only have much more control over their content earnings and distribution, but also automate some processes that means they do not have to have a central distributor middleman in the same way. Content could come with varying licence contracts where a content manager for a platform anywhere in the world would be able to essentially sign to use and distribute content that they think is relevant to their audience and have thousands of variation in contracts running simultaneously on their platform, with all still meeting the contract criteria.

From a creators standpoint, this empowers them to spread much further than they can alone without having to rely on any single centralized distributor as the revenue gateway. Once up and running, it is near impossible for a content creator to be demonetized completely or banned. While this might be a minor concern for some, for the current content creators with a global audience, this is a very real concern - and it is they who will benefit the most from the inbuilt protection decentralized Steem provides, and it is they who will be able to draw audiences into Steem powered sites for pure consumption.

The future possibilities of communities and SMTs on Steem is going to create opportunities for those looking to build businesses and carve out a space for their own entrepreneurial workplaces. Distribution itself will be a potential job where some people build up a following through sharing other people's content to the point that they are able to generate a kickback from multiple sources from each share. This is a kind of alliance between creator and distributor, even though they do not know each other as the trustless blockchain contracts connect them.

While currently most of us focus on the value that comes out of the Steem inflation pool, the coming value is going to be in all of the SMT pools that will arrive and attempt to make themselves valuable, as well as from what is already being generated on tradition content distribution channels.

Because this is all managed by a set of blockchain protocols and processed by the witnesses that keep the transactions free, the cost of distribution comes down heavily and eventually, the centralized channels could find it difficult to service their top-heavy business models. What this means is that Steem can undercut them and rather than content value generation being funneled to a central point, it will be distributed throughout the community that creates, shares and consumes that same content.

There is a massive amount of value in the data and transactions surrounding content distribution, and rather than people like Mark Zuckerberg being worth 70 billion dollars each, that same value can be distributed to all people participating with each getting a share tailored specifically for them. I see Steem and blockchain in general being instrumental in redefining content ownership and the way businesses form, manage themselves, share and of course handle financial distribution - we become the new model for entrepreneurs, and we all run a business. The blockchain underpins it all to a central protocol, that protocol is distributed and - asks for nothing in return.

While everyone else has the potential to get paid - the Steem blockchain works for free.

Taraz [ a Steem original ]