Blockchain has to do with trust–or the lack of trust–which makes it great for the media industry. TechRepublic’s Dan Patterson met with James Del, publisher of tech news site Futurism, to discuss how publishers can use blockchain technology to verify news content, streamline advertising, and rapidly adjust to trends.
Blockchain has already disrupted multiple industries including finance and real estate, and as the technology becomes more solidified in these industries, it will begin to disrupt other industries as well. “Publishing is an easy target because it’s not working,” Del said. Advertising models that powered most digital publishing are now changing, leaving publishers behind to build a model that not only makes money, but also serves the public.
When you look at what blockchain is good for, which is trust and transparency, and decentralization, “it’s actually uniquely suited to help with media ecosystems,” he said. As fake news spreads across the internet and people question their trust with the media, blockchain media applications can be used to help make sure the information that is shared and published is accurate, and help organizations come up with new business models for the way publishing can work.
“No one is truly doing this yet, but all signs point to media being the next town in the way of being disrupted by the blockchain revolution,” he said.
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- How blockchain technology can transform our world (ZDNet)