{"id":38868,"date":"2018-03-25T16:00:48","date_gmt":"2018-03-25T23:00:48","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=38868"},"modified":"2020-04-09T18:43:25","modified_gmt":"2020-04-09T17:43:25","slug":"blockchain-news","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/blockchain-news\/","title":{"rendered":"How Blockchain Can Revolutionize the News Industry"},"content":{"rendered":"

In nearly every way, the past two years have been uniquely disorienting. A high-altitude overview of the news includes a country voting to leave a union with the Brexit vote, a hotly contested U.S. presidential election, numerous conflicts around the world, and the emergence of new investment and financial services stemming from the rise of cryptocurrencies.<\/p>\n

At a time when clarity and careful consideration are as crucial as they have ever been, information has never been less trusted or less transparent.<\/p>\n

Scandal and Misinformation Abounds<\/h2>\n

It\u2019s easy to see why.<\/p>\n

This week, Facebook endured another privacy-related scandal when The New York Times<\/a> reported that app developers accessed troves of user information as well as information from their friends and family.<\/p>\n

What\u2019s worse, that information was used to build comprehensive profiles that companies exploited to create targeted advertisements that preyed on people\u2019s biases and prejudices. This event is part of cascading news story involving Russia\u2019s use of social media<\/a> to sway peoples\u2019 opinions through misinformation, false accounts, and doctored photos.<\/p>\n

\"\"
(Source: Jonathan Ernst\/Reuters)<\/figcaption><\/figure>\n

Even statements between high-level government officials are fraught with skepticism. U.S. president Donald Trump, in a campaign speech, admitted to making up statistics<\/a> about trade deficits when speaking with Canadian prime minister, Justin Trudeau.<\/p>\n

Of course, none of this is made better in the age of \u201calternative facts,\u201d \u201cfake news,\u201d and Photoshop, which spread like wildfire across the internet. In other words, the technology that we relied on to bring us together and keep us informed has had the opposite effect.<\/p>\n

Using Blockchain to Build Trust<\/h2>\n

The blockchain receives a lot of hype for its potential to disrupt industries that remained constant for decades, and by almost any measure, it deserves the attention. The blockchain\u2019s most compelling features \u2014 such as the ability to create immutable records, to securely transmit data, and to resist tampering \u2014 make it a perfect tool for combating the misinformation that is damaging civil discourse and effective policy decisions.<\/p>\n

If anything, the blockchain isn\u2019t overhyped. It\u2019s underutilized.<\/h3>\n

Consider just two of its use cases.<\/p>\n

Decentralized News<\/h2>\n

The World News<\/h3>\n
\"The<\/a>
TheWorldNews.net is a unique blockchain project with significant social objectives and healthy economic ecosystem.<\/figcaption><\/figure>\n

The World News<\/a> is the first blockchain-based news service. It aggregates news from various news sources and allows them to be accepted, edited, or removed. Using a simple color stoplight color code, The World News designates articles as \u201ctrusted,\u201d and it provides a clear timeline for updated information. Since news is always changing, The World News uses blockchain records to document those changes and to update sources accordingly.<\/p>\n

Their tagline \u201cthe world without fake news,\u201d is a lofty but necessary goal. Although it\u2019s not the most elegant interface, it\u2019s catalog of updated articles makes it a valuable resource for the digital information age.<\/p>\n

Decentralized News Network<\/h3>\n
\"Decentralized<\/a>
DNN\u2019s token economy is structured in a way which encourages holding and usage of the DNN token.<\/figcaption><\/figure>\n

The World News isn\u2019t the only blockchain platform pursuing this goal. The Decentralized News Network<\/a> recently launched its ICO. Their platform creates a marketplace for quality content that is free from corporate, political, or individual bias. By incentivizing quality, peer-reviewed content, DNN looks to flip the script on the current media market that places the most value on the most sensational or shocking content.<\/p>\n

These companies, along with others who are pursuing similar ideas, have the opportunity to transform our information streams by improving their quality and content.<\/p>\n

Decentralized Documentation<\/h2>\n

In a March 14th<\/sup> editorial for The Wall Street Journal<\/a>, Mounir Ibrahim advocated for using the blockchain to transmit verified images or data points to document atrocities. He writes,<\/p>\n

\u201cTechnological advances now make it possible to disseminate images and videos around the world in seconds\u2026Device sensor data can verify precisely where a photo or video was taken, and the blockchain can ensure its integrity in perpetuity. All this information can be stored securely on the blockchain.\u201d<\/p><\/blockquote>\n

Several global events require documentation and news coverage, but those efforts are undermined when a source\u2019s integrity is questioned. As Ibrahim observes, the blockchain can create verified, tamper-free records of important events. As the integrity of the Iran Nuclear Deal is being debated or ISIS atrocities are documented, the blockchain establishes a degree of reliability and authenticity that is difficult to replicate any other way.<\/p>\n

No Easy Solution<\/h2>\n

The problem with the blockchain isn\u2019t its capabilities. Instead, it\u2019s the belief that the blockchain will immediately bring about all the change we hope to see in the information age.<\/p>\n

Decentralized news platforms or blockchain-based documentation can bring real authority to the most critical issues of our time, and adoption will be the biggest hurdle and lag on their proliferation.<\/h3>\n

Their adoption cannot come soon enough. In a best-case scenario, this turbulent time in history will inspire us to improve our processes and our approach to information and truth. The blockchain can help, and we need all the help we can get.<\/p>\n","protected":false},"excerpt":{"rendered":"

In nearly every way, the past two years have been uniquely disorienting. A high-altitude overview of the news includes a country voting to leave a union with the Brexit vote, a hotly contested U.S. presidential election, numerous conflicts around the world, and the emergence of new investment and financial services stemming from the rise of […]<\/p>\n","protected":false},"author":5,"featured_media":39355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,61045],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\nHow Blockchain Can Revolutionize the News Industry<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/blockchain-news\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Blockchain Can Revolutionize the News Industry\" \/>\n<meta property=\"og:description\" content=\"In nearly every way, the past two years have been uniquely disorienting. 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