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- Morgan Creek Digital Announces $40 Million Crypto Venture Fund Backed by Pensions
- General Motors Financial Teams Up with Spring Labs to Utilize Blockchain against Identity Fraud
The citizens of the crypto world were thrown into jubilation a few days back as blockchain technology experienced another groundbreaking event.
This event, which saw one of the oldest and most-successful media brands, Forbes, officially partnering with blockchain technology by publishing its contents permanently on the blockchain-based journalism network known as Civil platform, is a big deal to the crypto world as it clearly supports blockchain’s informative potential for the media industry.
Also, it is a big deal as this would be one of the first few times that a major media brand would be experimenting on the blockchain-based journalism platform; preceded it the collaboration of the Associated Press with Civil.
The partnership will allow the renowned journalism brand to permanently store its content in a decentralized environment where no cybercriminal or third-party can alter or remove them. The partnership will also allow the media brand to perform different experiments which would help it to better understand how publishing contents on the Civil platform can increase trust with its audience. This would also provide Forbes with the opportunity of assessing new innovations that could unlock new forms of audience engagement and cause additional revenue streams.
In the official announcement it was reported that Forbes is set to start publishing metadata from its cryptocurrency desk as early as the first quarter of 2019.
Like other newsrooms running on the blockchain-based journalism platform, Forbes will be using the platform to experiment with new methods of reader engagement and the contents published on Civil must be in compliant with the Civil Constitution’s ethical journalism guidelines.
According to the Senior Vice President of Product & Technology at Forbes, Salah Zalatimo, the media brand is relentlessly focused on quick experimentation and implementation so that it can determine the things that are of the best interest of their committed audience and the way forward for the industry.
He added further that the industry and Civil platform are of the same belief when it comes to the mission of journalism as such, he is certain that they can both work together to provide different audiences with a level of unprecedented transparency around their content and this would also make it possible for the industry to broaden its horizon of writers and determine new sources of revenue over time.
Like a customary measure, the CEO at Civil, Matthew Iles, who was excited over the partnership, said the mission of the platform has always been, and still is, to power sustainable journalism throughout the globe and that Forbes’ commitment to permanently publish its contents on the platform is a major milestone for this approach. He added further that they look forward to working with Forbes as they try and connect with a wider audience interested in new, transparent ways to discover, share and support ethical journalism.
Well, what can I say! Blockchain technology is bent on renovating all facet of the economy across the globe and it just can’t catch a break.