Journalism, the fourth pillar of democracy, is undergoing a turbulent phase in several countries and recent developments have shown that blockchain technology could emerge as its savior.
We live in a time when press freedom is dwindling at an alarming rate in democracies across the globe and people are fast losing trust in traditional media outlets. Advent of social media has resulted in a level playing field where journalists not just compete against each other but also any other person with a cell phone and access to the internet. To top it all, there is an emerging threat of Artificial Intelligence spreading misinformation and posing potential employment threats in the media industry.
Journalism, the fourth pillar of democracy, is undergoing a turbulent phase in several countries and recent developments have shown that blockchain technology could emerge as its savior.
We live in a time when press freedom is dwindling at an alarming rate in democracies across the globe and people are fast losing trust in traditional media outlets. Advent of social media has resulted in a level playing field where journalists not just compete against each other but also any other person with a cell phone and access to the internet. To top it all, there is an emerging threat of Artificial Intelligence spreading misinformation and posing potential employment threats in the media industry.
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In such turbulent times, blockchain technology with decentralization in its roots, may hold answers to persistent challenges faced both by journalists and news consumers in the digital age.
Fox Corporation, a U.S. based media conglomerate, has been experimenting with ‘Verify’- an open source blockchain based protocol that helps the media organization as well as viewers to verify the authenticity of the news. Recently, Fox announced that another global media brand TIME has become the first external organization to use Verify- the inhouse protocol of Fox News.
What is Verify Protocol?
Earlier in January, Fox launched the beta version of Verify- a protocol built on Polygon SoS by the in-house engineers team of the media conglomerate. .
Verify protocol operates by cryptographically signing each piece of journalistic content (article or image/video) on the blockchain. This cryptographic signature confirms the origin and history of the content, allowing both consumers and other media outlets to verify its authenticity.
Verify is still in its beta phase but users can try the open-source protocol here: https://www.verify.fox/
Four major utilities of Verify Protocol
Integration with CMS
One of the practical applications of the Verify Protocol is its integration into media companies’ content management systems (CMS). Once integrated, it allows for the rapid authentication of various media content, including articles and images, ensuring that any piece of content manipulated or taken out of context can be quickly identified. This system is particularly useful in combating the misuse of real images or videos in false news contexts, a growing concern in today’s media landscape.
AI Check
The protocol helps in identifying whether a picture is AI generated or original thereby helping to combat fake news. Verify also acts as a technical bridge connecting the media organizations with AI companies.
Licensing
Another important objective of Verify is to license creative work of journalists in a safe and responsible manner. Media companies can also use the protocol to decide how their copyrighted content can be used by other platforms.
Transparency
Since verify is open source, news consumers can check the authenticity of any news article or image by just using the tool. This feature can come in handy in volatile, on-ground situations where fake or out-of-context pictures can cause potential law and order situations.
How Blockchain can help restore Faith in journalism: A futuristic look
Blockchain technology holds the potential to enhance journalism by promoting transparency, accountability, and freedom. Here is a futuristic look at how blockchain could assist the media sector.
Decentralization and Trust
Blockchain’s core feature of decentralization allows for the creation of news platforms that are not controlled by any single entity, reducing the potential for undue influence and bias. This setup helps in building trust with the audience, as the data on a blockchain cannot be altered once it is recorded.
Combating Fake News
Platforms like Trueinchain use blockchain to verify news items by incentivizing community members to flag and verify the authenticity of news articles. This approach encourages the community’s collective efforts to maintain the integrity of news content.
Transparency in Journalism
Blockchain can provide transparent mechanisms for journalistic work by recording the origins and edits of articles. This traceability can help combat misinformation and ensure the credibility of news, as every change or update to a news article can be tracked and verified.
Economic Model and Incentivization
Using blockchain, news platforms can implement token-based models that incentivize both journalists and consumers. For instance, tokens can be used to reward journalists for high-quality content and readers for consuming and sharing trustworthy news. This not only helps in maintaining a sustainable economic model but also encourages the production and circulation of verified information.
Protecting Sources and Rights
Blockchain can enhance the protection of journalistic sources and intellectual property. It allows for anonymous submissions by sources, ensuring their safety and security. Additionally, it helps in managing the rights to digital content, enabling journalists and media houses to retain control over their work and ensuring proper compensation for their contributions.
Protecting Sources and Rights
Blockchain can enhance the protection of journalistic sources and intellectual property. It allows for anonymous submissions by sources, ensuring their safety and security. Additionally, it helps in managing the rights to digital content, enabling journalists and media houses to retain control over their work and ensuring proper compensation for their contributions.
The Free Fall of Press Freedom
Statistics from recent years have revealed a worrying trend of press freedom index falling in several democracies across the globe.
For instance, a report by Reporters Without Borders (RSF) highlighted that media freedom is deteriorating in nearly two-thirds of the countries analyzed, with noticeable declines even in countries traditionally seen as bastions of press freedom like Canada and several European nations.
Additionally, in Europe, incidents of violations of press freedom have reportedly increased more rapidly than in any other region, with a 17.5% rise over the past five years. Media freedom has been experiencing a major downfall in various regions around the world, with some of the most severe deteriorations occurring in regions like Eurasia, the Middle East, and North Africa where the average press freedom scores have dropped by 9% and 11%, respectively.
India- the world’s most populous nation and largest democracy stands at a worrying rank of 159 out of 182 when it comes to the press freedom index. This ranking reflects a troubling environment for journalists induced by various forms of censorship, legal hassles, and an unhealthy dependence on the corporate sector.
In this context, it will be interesting to see whether media organizations in India would deploy blockchain in their CMS for transparency and greater media freedom.
Conclusion
The challenges in the media industry are multi-faceted and there are no quick fix solutions. In that regard, blockchain holds great potential in the long run to bring tectonic changes in the media industry. It took more than a decade for media houses to adapt to the internet but this time, journalists don’t have the luxury of time as threats loom large on their gates.
Retrieved from: https://www.cryptotimes.io/2024/06/20/chain-of-freedom-can-blockchain-revive-journalism/
