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AXA adopts blockchain-based misinformation solution

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On 20 October 2020, global insurance firm AXA Group adopted s Wiztopic’s blockchain solution, WiztrustThe platform enables the certification of corporate content on a blockchain, which allows media firms and investors to verify its authenticity. AXA joins firms such as Allianz, construction, property and telecoms conglomerate Bouygues, and France’s second-largest banking group, Groupe BPCE as platform users.

To prevent stock prices being manipulated, institutions and investors must know that financial communications from listed companies are real. This is Wiztrust’s primary target market.

Founded in 2014, the Parisian software platform Wiztopic offers simple technology solutions for communication teams of financial services and listed companies. It also helps them distribute, measure, and manage content performance, with users in over 20 countries. Wiztopic claims Wiztrust was the first blockchain platform to certify corporate content certification.

The company completed its venture round funding in October 2017, raising $4,4million. The lead investor was French asset management firm New Alpha with financial sector business angel Pierre-Antoine Dusoulier from Saxo Bank and others.

Disinformation and fake news has escalated in 2020, not least because of the upcoming U.S. Presidential Elections. Major technology firms like Facebook and Twitter have been forced to make moves to counter the spread. Last week, blockchain firm Everipedia announced its collaboration with news agency The Associated Press (AP) and Chainlink, enabling AP to distribute U.S. election race calls onto a blockchain. The blockchain can be used to verify the data comes from a legitimate source securely and transparently.

The New York Times has also attempted to tackle misinformation with blockchain solutions, building a proof-of-concept with IBM Garage for the News Provenance Project last year, and more recently announcing its blockchain prototype to verify the source and edits of photos.

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