Telecoms firm Verizon recently launched Full Transparency, an open source newsroom platform on blockchain. For the proof of concept, it partnered with Huge, MadNetwork and AdLedger to increase corporate accountability as part of its corporate responsibility initiative, Citizen Verizon.
According to the 2020 Edelman Trust Barometer, 60% of global news consumers don’t have full trust in the information given to them. Verizon’s Full Transparency specifically targets corporate newsrooms as opposed to news outlets. But it means readers can more easily go back to the original source and see what was said and whether the corporate announcement has been updated. The platform is particularly meaningful in today’s uncertain socio-political environment as consumers look for trusted news sources in an attempt to make some sense of the current situation.
The news incorporated in the system is tracked on the blockchain ledger, reflecting precisely what was delivered by the releasing organization. Furthermore, news published to the Verizon Newsroom, the company’s News sharing platform, will be secured through cryptographic principles, enabling subsequent news changes to be tracked and contextualized.
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