How Will The Blockchain Affect The Media And The Agencies? |
Posted: December 2, 2018 |
The blockchain is one of the most groundbreaking technologies currently since the Bitcoin arrived. Basically, it is a secure database that can be applied to all types of transactions. One of Its greatest virtues is that each of these transactions can be verified by several users allowing security and transparency. Therefore, the blockchain manages to eliminate intermediaries and gives control of the processes to users. This possibility will produce radical changes in many business models in which blockchain has already started to be implemented. In Marketing and PR agencies likes Goodnoon, blockchain is already affecting the media, advertising agencies or public relations consultants completely. How does blockchain work The blockchain is a kind of "book" of digital record, historical, traceable, unalterable, public and is protected in many computers distributed in the world called nodes. When a transaction is made, it is transformed into a unique number that is added to a block. The nodes of the network validate it, the operation is recorded and it is incorporated into the chain of blocks together with previous operations that cannot be changed. In this way, you can follow the path of a coin or asset. Inside the blockchain, each participant who interacts has a visible number, but unless there is a list that relates an individual to that code, the transaction is anonymous. Security is based on a combination of two codes that, according to specialists, is almost impossible to hack. Until now, no blockchain has been hacked, although there are other vulnerabilities, such as theft or loss of passwords. As far as the advertising industry is concerned, it could solve problems of visibility and fraud. Through blockchain you can register how many times an Ad was seen, as well as the nature of the traffic that generated it, improving the confidence and transparency in the advertising purchase. This already has a real application called AdChain - which uses blockchain technology to record and store real-time ad impressions to ensure advertisers are only paying for the ads they consume. Other examples are AdEx (for video), RebelAI (for programmatic), NYIAX (for digital futures), MadHive (for data management).
The blockchain will democratize the media reaching journalists first. Global experts warn that this technology could allow one-cent micropayments to read an article, and the journalist who wrote the article may be the one who collects it without any other intervention. In this way, it will stop being dependent on the traditional income lines, and avoid mainly advertising strategies which are less and less popular by internet users that install programs such as Adblock to avoid ads. The newspaper of the future will not have a permanent staff of journalists, editors and writters, rather it will have an internal market of events to be covered, works to be edited and publications to be verified that will be taken by journalists available at the moment, previously qualified and whose reputation will move based on the quality of their work. The blockchain technology will improve the quality of the media and the effective fight against fake news. Not in vain, today there are already tools that offer the possibility of assigning a certain digital ID, safe and usable to accredited journalists, as well as their articles and files. With all these virtues, it is not surprising that several media projects have already emerged that take advantage of blockchain technology. Perhaps the one that has gained the most relevance so far is Civil. This platform allows citizens and journalists to create a free, safe, decentralized and sustainable space in which to create and share professional journalism. According to its manifesto, "The audience can directly support journalists, and they directly manage their news spaces, or Newsrooms, in a collaborative manner." All this under strict ethical and deontological criteria to guarantee the veracity and public interest of the published information. Born in the United States, hundreds of journalists are already linked to Civil, who are financially rewarded directly by readers based on their participation in the informative pieces, which are done collaboratively. To ensure its veracity, any citizen can point out errors or inaccuracies in a published information, which may be accepted or not by the authors. In case of conflict, the advisory board of the platform is used, which will review the case and make a final decision in an open and transparent manner. All this process is registered and all the parties can see it.
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