It looks like we have found one of the first companies to publicly announce their intentions to use SMTs on the steem blockchain.
Bob's Repair!
If you do not recall SMT stands for Smart Media Token and it is a way for companies/businesses/communities etc. to tokenize/monetize content (or any other thing they want to monetize) using the steem blockchain.
More about how they work can be read here:
(Source: https://smt.steem.io/)
What is Bob's Repair?
According to their website...
Bob's Repair intends to use blockchain technology to eliminate review fraud and provide lower pricing in the home repair industry through a decentralized platform.
Smart Contractors. Smart Contracts.
For a little more on their history, this comes directly from their website:
"Anyone that has hired a contractor in recent years for home repairs has faced three problems: false information due to review fraud, hidden costs due to advertising fees, and inflated prices due to lack of pricing transparency. Bob’s Repair is here to change that.
The Prandecki brothers, together with blockchain experts and experienced software engineers, founded Bob's Repair with the mission of launching a decentralized platform that will bring trust and fair pricing back to the consumer.
In order to fight review fraud, advertising fees and provide the consumer with transparency, the Bob's Repair Application will be built on the STEEM blockchain, which has a three second block time and no transaction costs."
(Source: https://bobsrepair.com/ or http://bobsrepair.com/)
Cool! What does that mean?
Basically it sounds like the are trying to solve the problem of review fraud.
I don't know much about how prevelant that stuff us, but it makes sense that it is a very big deal.
As it stands now, I could go on Yelp or any other review site/message board, and talk badly about anything I wanted, even if I had never done business with them.
In fact, it would not surprise me in the least if competing business go out and write false reviews about their competitors anonymously.
Bob's Repair hopes to change all that.
Every review will be attached to verifiable work done. Meaning that the only ones that can leave a review are the ones who actually used the service.
Seems like a great idea and one that could potentially be disruptive to a lot of big companies out there. You know, like Yelp.
Right now, Bob's Repair says they plan on on-boarding 50,000 plus customers that they have already connected to contractors in the past.
Though not a massive business, that represents a great network with which to get started.
Apart from the business, they have a very well known and interesting advisor...
John McAfee is a partner and one of their chief advisors. He says that he thinks Bob's Repair has a great chance of disrupting home repair through a decentralized platform.
In fact, here is one of his quotes about the project:
"Bob's Repair is one of the most interesting brick and mortar ICOs I've seen."
Pretty high praise coming from someone who sees a lot of ICOs, probably just as much or more than anyone to be honest.
You might remember him from saying he would eat his manhood on national TV if Bitcoin didn't hit $500,000 within 3 years.
I wrote about it a few times here:
https://steemit.com/bitcoin/@jrcornel/bitcoin-to-usd500-000-within-3-years-or-he-ll-eat-his-what
https://steemit.com/bitcoin/@jrcornel/you-gotta-admire-a-man-who-will-stick-to-his-word
At the time he made those remarks, bitcoin was trading for around $2,500 per coin and he looked extremely silly.
Now that bitcoin has already hit $20k, just a couple months from his original statement, he looks silly still, but slightly less silly.
Either way... he brings eye balls and will ultimately bring awareness to steem.
Regardless of how crazy you feel McAfee may or may not be, he is pretty influential in technology circles, has lots of connections, and his voice carries a lot of weight.
It's great to have him involved with a company doing a SMT on the steem blockchain.
For more info on Bob's Repair, check out their website:
or
And Whitepaper:
https://bobsrepair.com/docs/White-Paper.pdf
Stay informed my friends.
Follow me: @jrcornel
Wasn't the first one Appics ?
Explanation for high upvote
Yes, it is among the very first, with ZAP been its currency. Alot of people needs to know about Appics before its full launch. Great Platform, I must confess.
@jrcornel - this is awesome news, and the John McAfee involvement may explain some of the recent explosion in the STEEM price.
One question - SMTs don't appear to be mentioned at all in the white paper. Are we 100% certain this will use an SMT and not another fork of the Steem software like vicetoken.com is doing?
Read page 15 ;)
I've read the whole thing. From what I can tell it looks like their BOB token will be an ERC-20 token and most of the platform will be run on an Ethereum smart contract. Then it seems like the reviews themselves will be posted to the STEEM blockchain (and I'm guessing just using the STEEM token since there is zero mention of an SMT).
It says the Bob's Repair Application will be built on the steem blockchain, not using the steem blockchain or a forked version of the steem blockchain, but on the steem blockchain. If that isn't an SMT I would be shocked.
It is strange, however there is absolutely no mention of an SMT anywhere in the whitepaper, and since it seems like they are planning on keeping the BOB token on Ethereum maybe they don't want to have two separate tokens?
I am not sure. It is a bit strange. Maybe @virtualgrowth can chime in here. He was also an advisor to Bob's Repair.
That would be awesome to hear from someone on the inside...
That doesnt necessarily have to mean its an SMT, just like existing applications run on Steem and are not SMTs. Think dtube, busy.org, etc. Granted they might become SMTs over time. Dtube already stated they will add one.
SMT was not mentioned because it may be long term and not part of the initial MVP build of the platform. This will be better explored this month.
Please, what is Bob's repair?
Did you not even read the post? Wtf
Bob's Repair intends to use blockchain technology to eliminate review fraud and provide lower pricing in the home repair industry through a decentralized platform.
I'm setting up a bookstore that will accept STEEM and am planning to use SMTs for the bookstore, as well. Thank you so much for this information! It will help as I move forward.
That's awesome! The business that accept steem the better!
Are you at liberty to talk your commission v. author commission?
Will authors buy SMT to sell books in the store?
I look forward to a post with all the details.
Btw, most indie authors are set up on Amazon. Will this be an issue with selling books from your store?
Best regards,
Peace.
Those details haven't been ironed out yet. But yes, when they are, there will be a post outlining them! Thanks very much for your interest.
✌!
that sounds exciting!
I would be interested too for my business. I am very green though still very unsure even what it is and how it has value, like where value is coming from. People are buying coin?
I see this could be great for me to know all about to I build many websites a year some cannabis and other black market sales.
Great news. This will add value and visibility to Steem.
You got a 22.22% upvote from @yourwhale courtesy of @discernente!
Hmmm thats a very interesting idea, Ive always thought about how reliable online reviews are. I know personally from owning a business how unreliable reviews are. There is just no way of knowing which ones are real. This has me thinking of how I can use this idea too ;) Thanks for the info!
Agreed. If they can figure out how to do this effectively, there is a massive market out there for stuff like this...
@bobsrepair is on Steemit!
https://steemit.com/@bobsrepair
No posts yet.
Following only @virtualgrowth
Good info. Thanks for the heads up!
Good to know about this and thanks for sharing.
I've been following this project for a long time right from inception and it looks very promising
Great to hear @enolife! Seems a few have that are on steem(it). :)
Yes, The account is only currently reserved. Watch for more as they are currently in the process of raising funds for development.
Thanks for the heads up on this, advise well ;)
Marvelous campaign!
Awesome Work ..
Head Up for Steem it !!
Thanks
No matter how much I read about SMT’s, I’m still having a hard time wrapping my head around how much their rollout and subsequent usage might affect demand for Steem tokens. 🤔
wah nice!
Good to hear businesses are planning to use SMTs even while they are not live yet. Great!
John McAfee tweeted this about Bob's Repair:
Some people don't like the guy, think he's a joke. However, listening to some of his interviews he is a lot more than just a novelty. He's a really smart guy as well.
This is awesome, but probably only the beginning
@jrcornel That's really a good thing to do,trust me am happy seeing stuff like this.
If John McAfee is involved in this I think that it is a vote of confidence and trust for what is to come. What I personally like about is the name - Bob's Repair - which is so friendly and cordial. The domain of activity is one pretty wide and with global market possibilities and it comes to solve an issue that we all have with repairmen which leave your house more broken than they found it.
Agreed. I think the name is perfect.
Pretty thanks! I was quite proud of the inspiration that I had when I came up with it.
Congratulations, another milestone for the steem community. Checking Bob's Repair website ;)
Awesome!
that sounds awesome!
How would it prevent fraud and hold reviewers accountable for what they write? It sounds fantastic because yelp is out of control but I can't wrap my head around how that would be accomplished.
A customer can only leave a review once the job or transaction is complete. Once the smart contract has been completed the customer can leave a review.
Oh okay, that helps. It seems to still leave companies open to fraud from disgruntled customers. Although its a huge step in the right direction.
Same thing here.
I understand the problem but I still don't understand the solution's implementation.
Anyway, if they manage to make it work for people it would be a great contribution because review reliability was begining to stink.
Just like everyone has ways to post anything online it would be only natural that a niche is created for a solution that helps the user discriminate between junk and useful info.
Good project.
Few nights ago I dreamed all the local businesses were accepting cryptocurrency. I had kind of struggling to understand the full possibilitys of blockchain before. But waking up after this dream, it was like I was enlightened.
great awesomic
Do no miss this great ICO, they have great team with already operating FinTech business. Check it out: www.fastinvest.com/en/ico
If you're interested in short-term recs & specs, today we're talking about Neo's "GAS" and Decred for an overnite trade (theoretical)....
https://steemit.com/cryptocurrency/@harpooninvestor/poopcoins-overnite-gas-and-decred
also some longer term recs at the bottom of our article, altho not yet "written up" in detail.
Marketing is most important thing in business, so this only can be a good
the SMTs are way to move steem even further up as it adoption takes effect , was wondering how long it would take since @ned announced them at steemfest, things are looking up for steem and the blockchain as a whole. steem need a marketing team that will sensitize the public about SMTs and their benefits so that people could adopt them
lovely post Many many happy returns of the day Bitcoin
and whats about my B'day tomorrow on Jan. 5th
GIFT me generously wanna start Altcoin Hedge Fund Startup
BTC: 1JydjBwdbNTruAHwaXXvpwyvLHQxEFiUeT
ETHER: 0x1910D1742b22275d1B124a936ae4732E67B50086
BTC Cash: 15Z55LFtzxmfaRuhgu3kkVkZAppjKnXn1a
that is soawesome , and that's only the beginning. steemit is looking really bright
niceeeeeeeeeeee
Great news again... only day 3 of 2018!!
Marketing is most important thing in business, so this only can be a good news.
Its awesome i like this and follow you dear keep it up thank you
Another challenge for the steemit community
really cool
I have no idea what his means but I’m having fun trying to figure it all out! Thanks for the informative posts! Happy New Year!
Fantastic. That is amazing and it sounds like a really great used for SMTs. I'm really excited about the future of Steem.
Hi very good and informative post!
I intersetd in this site but it looks it down.
is it only me?
Wonderful post. That's a great plus to those doing business
Wow! Great news!! SMT deal is here!
Welcome 💹
This is great news as marketing is very essential in business..👍
Great news. Competition for trust pilot, google reviews, rated people etc so their share price may go down eventually.
As decentralization brings power to the people and people uncorporate / unwageslave themselves, number of big corporations like Carlyle Group going to be replaced with cooperatives etc for more equal society, th e days of the fat cats are numbered.
Thats so good job .
Step by step, brick by brick, SMTs will be changing the economic game !
Thanks for this interesting post.
I probably missed it; but, how does the SMT play in to Bob's Repair?
Will this company require those who review to buy a SMT at a set price, generating income to the business?
Finally, how will the SMT affect the STEEM community's bottom line, if at all?
Again, thanks for sharing.
Peace.
Keep them coming- some good news :)
ㅡThank you for your information
Sadly, I'm late seeing this from you. Thanks @jrcornel
Review fraud is very serious. I do reputation management for a couple of companies, and it can really affect business. Some shady competition put bad reviews out, etc... Re-steemed this and posted to http://sco.lt/7Tunon and http://sco.lt/7yMHWD plus to my other profiles.
This is great news for the success of SMT. I'm really excited about it :) Thank you for the info!
Thank you for discovering and sharing. This was in part because of me being an advisor.
Virtualgrowth is now an advisor of Bob's Repair!
Advise well my friend :)
Also, See @yabapmatt questions posted above.