I'll have to have a listen to this when not stuck on conference calls!
I've been trying to figure out applications for SMT's and, when reading the white paper, it tends to mainly focus on crowdsourcing via ICO.
Whereas I'm really keen on seeing how it applies to small scale media outlets who are probably not in the position to get that sort of mass scale buy in. The paper, on my rather high level leaf through, did imply that ICO was optional, but I didn't grasp how that worked.
My main vision is a hope that enthusiast communities, that basically exist on the goodwill and enthusiasm of contributors working for free, could turn to monetisation.
I did note the developer application of SMT, and this seems like what is going on with the Instagram-alike application you mention. And the whitepaper went on to detail a Discqus type application for applying on websites.