Our main goal at DNN is to address fake and sensationalized news by holding everyone in the news dissemination process accountable. In order to cultivate accountability, we’re leveraging on blockchain technology and digital currencies to ensure transparency and incentivize active participation in the media landscape. In addition, we’re also counting on a team of professional and academic advisors for their infinite industry knowledge and insightful ideas.
As we continue to work towards our goals, we’re eager to share their wisdom with you. Join us every Thursday for an in-depth Q&A with one of our talented DNN advisors, and get to know some of the visionaries behind the DNN platform.
This week, we’re going to be talking to Justin Festa, Chief Digital Officer from LittleThings, an online lifestyle outlet based in New York that creates and shares positive, inspiring, and uplifting content specifically catered to women across generations.
Q: How did you first come across the Decentralized News Network, and what were your initial thoughts on the project?
A: I started really getting into Ethereum last January, and one day stumbled onto a site that had a listing of Dapps(decentralized applications), along with their current state of development. I was immediately drawn to DNN as an alternative to the way we currently consume news. I loved the potential of a fact based, community driven news platform, and thought Ethereum was the perfect platform to make that happen. I read the white paper, then connected with Samit over LinkedIn, where we spoke for an hour. Afterwards, I sent back pages of ideas and notes, and that really started everything.
Q: Now that you’ve had some time to fundamentally understand the DNN platform and how it works, tell us about a platform feature that most excites you. Are you more excited for the blockchain component, or the article review process?
A: I have to say both. I have often explored the idea of micropayments, in one form or another, as an alternative to advertising but it’s very difficult to achieve with traditional websites. To start, mass adoption of wallets is required, which will be funded and shared across devices, and then there needs to be a way to properly account for all the transactions made.
Luckily, the blockchain helps to solve these problems. However, if you stop here, you’re left with a blockchain based, centralized website. The review process is the key to making everything truly decentralized. It closes the loop between readers, writers, and reviewers, and it creates a platform in which writers and reviewers are rewarded for making the overall platform better, and that in turn attracts more readers.
Q: What is your specific area of influence on the DNN project?
A: I have been in publishing for the past five years, and a programmer for the past 15, so I understand the limitations and challenges that come with running a traditional website. Things like user experience and technical development are still crucial, regardless of how the website runs under the hood. My main focus with DNN has been making sure the roadmap lines up with what we need to be successful. As the first advisor to come on board, I spent a lot of time with the team refining the white paper and making sure that our long term plan was solid, which was something we felt confident we could execute.
Q: LittleThings is a digital media outlet that scales positive content, while influencing women across generations. Considering that tech is traditionally a male-dominated industry, how has your experience in a digital marketing role, that specifically caters to women, shaped your thoughts on encouraging more women to join the blockchain community?
A: The reason that there are not enough women in the blockchain community is because there are not enough women in tech. I’m a big supporter of initiatives like Girls Who Code, which encourages women to program and change the dynamics of the tech industry. Whether it’s blockchain or tech, trying to progress in an industry with only half the eligible people likely to participate just doesn’t make sense. I think the entire ecosystem is better served by diversity, regardless of the audience a publication is trying to reach.
Q: What got you interested in blockchain technology and cryptocurrencies? What do you envision for the future of DNN and blockchain?
A: I have been interested in Bitcoin for a while, but it wasn’t until I learned of Ethereum that my interest really jumped to another level. The idea of smart contracts and immutable code on the blockchain was something that I really believed could change the world. For DNN, I see us becoming a trusted news platform. A place where people can go to get accurate, fact based news without all of the ads and clutter. I see it as a platform where journalists will want to publish their work because they’ll receive a larger share of the pie. Lastly, I see DNN as a place where readers know to come back each day for top quality journalism.
Q: What do you believe is the best benefit of blockchain technology? How do you believe it’s changing the world? How do you see DNN fitting into this change?
A: A year ago, I would have said the ability to bank the unbanked, and provide a cheap, stable way to transfer money anywhere in the world wouldn’t have been a reality, but look where we are today. You can look at what M-pesa (mobile money-transferring service) has done as a centralized solution and see that stable, easily transferrable money is incredibly important. However over the past year, I have been blown away by the new projects being launched, making our goal that much more significant. The blockchain affords us the opportunity to put control in the hands of users. With everything from shared computer power that rivals supercomputers, to lending, to video creation/distribution, there are so many opportunities to change industries for the better. I think DNN is another piece of this puzzle by granting readers access to great journalism, while rewarding the readers and reviewers each time they improve the platform.
Q: How do you envision the future of media landscape, especially after a tumultuous 2017? How do you see technology and the media merging to tackle the on-going debate surrounding content authenticity and bias?
A: I’m not sure this issue will be adequately tackled in 2018. The more that people get their news from social platforms, the harder it becomes to vet everything posted for accuracy. I think over the next 12 months more people are going to rely on fewer, but more trusted, sources to get their news. This change appears to be happening already, with the dramatic increase in subscriptions for publications like The New York Times and the Washington Post. DNN is uniquely positioned to be another source of truth, and as the platform gets larger, it will encourage more writers/reviewers to build on it’s reputation for fact based reporting. These new platforms, like DNN, where everyone involved has a vested interest in pursing the facts, are the best way I see to create trust around media authenticity.
Q: Offering insight and guidance, advisors are a crucial component to the success of any blockchain startup. In fact, mentors play an important role in the self development of human beings. With that being said, who is your role model, and or mentor, and why?
A: My role model has always been my father. There’s something special about watching someone repeatedly do the right thing in life no matter how difficult that may be. There are always short term opportunities to exploit something, but going about life the right way pays off. I’ve also appreciated and picked up the commitment to lifetime learning. There is an endless amount of knowledge available at our fingertips, and I’ve learned it’s perfectly acceptable not to know something, but there’s never an excuse for not learning it.
