Verizon: Using Blockchain For Transparency

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Verizon announced that it is now going to use the Ethereum blockchain to post it news articles upon. This is being done in an effort to promote transparency.

Could this be the beginning of a shift in journalism?

In this video I discuss the idea of a new model being developed where if something is not posted on blockchain, many will question it. After all, why not post to blockchain where it is immutable and the revisions transparent.

Here is the article link that was mentioned in the video.

https://cointelegraph.com/news/verizon-s-newsroom-to-use-blockchain-in-bid-for-absolute-transparency

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That’s crazy, I wonder what that’s going to do to the price of ETH lol

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(Edited)

I am not sure it will have much of an impact. Ethereum is obviously well known so it is a minor blip. If others follow though, it could help that blockchain a great deal. Of course, there is still the transaction fees and times the network is bogged down.

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Yeah i was thinking also what about those transaction fees lol the gas prices are crazy at it is!

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Just what we needed... Permanent fake news... lol
Seems like a good opportunity for Verizon, but an even greater opportunity for crypto users! I like the idea and I welcome the advances and the competition that will stem from this.

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Actually this is more for blockchain as opposed to crypto. Verizon is looking at it as a decentralized database.

As for the fake news, it will be interesting to see because if it is posted, all edits can be reviewed. And counter "news" can also be posted.

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It will get to a time where journalism wouldnt be just cloak and dagger anymore. I think this heralds it. I don't know how they intend to do it anyway but I feel it's a step towards transparency.

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Summary:
In this video, Task discusses an interesting development in the blockchain and cryptocurrency world involving Verizon, a telecommunications giant. Verizon has announced the use of an open-source application to post their newsroom articles on the Ethereum blockchain. This move aims to increase transparency in media, as there has been growing criticism of social media platforms and mainstream media for spreading misinformation and lacking trustworthiness. Task emphasizes the importance of decentralized data, immutability, and transparency that blockchain technology offers. He questions the credibility of mainstream media outlets and highlights how blockchain can mitigate issues like censorship and fake news. Task expresses optimism about the potential impact of blockchain on restoring trust in media and discusses the significance of organizations embracing blockchain technology.

Detailed Analysis:

  • Task introduces the video by discussing Verizon's initiative to post articles on the Ethereum blockchain for increased transparency, addressing concerns about misinformation in mainstream media.
  • He emphasizes the significance of blockchain in providing immutability and transparency, which can help in restoring trust in media platforms that have faced credibility issues.
  • Task mentions the need for decentralized data and discusses the benefits that blockchain technology offers, such as eliminating agendas and allowing anyone to post data without censorship.
  • He touches on the concept of the "killer dapp" for blockchain and cryptocurrency, suggesting that decentralized data could be a transformative application for the industry.
  • Task speculates about the potential impact of Verizon's blockchain adoption on other media organizations and questions why reputable sources wouldn't leverage blockchain technology to enhance trustworthiness.
  • He addresses the issue of journalistic integrity and the importance of being able to track revisions and edits in articles to ensure accuracy and transparency.
  • Task highlights his skepticism towards mainstream media outlets and the misinformation they have spread about cryptocurrency, emphasizing the need for blockchain to combat false information.
  • He concludes by noting the evolving nature of the relationship between mainstream media and blockchain technology, indicating a shift towards different use cases emerging in the industry.
  • Task delivers a closing remark, expressing hope for the audience's well-being and hinting at future discussions on similar topics.
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