Chaining the rumor birdies
The world has seen the significant impact in the way news is disseminated post up rise in internet technologies. The print media has transformed into a digital platform for dissemination of content and news. With the rise of Web 2.0, blogging and feedback from news consumers started significantly swaying the response to sentiments and intents associated with news.
Then came enormous influencing potential of social media platforms, which could even coup incumbent administration and lead to mass agitation. Thanks to the all-time high reach of mobile network and ubiquitous connectivity, the media houses sufficiently leveraged the enablement, platforms and its capabilities to make further penetration and amassing greater viewership. Today people do not have to go to news rather news comes to reader. All these platform have subscription based model, wherein on subscription, feed is made available to readers. The news may go viral basis the up votes from users. News channels on Television is by far dead or may soon see their end as the viewer rather abhor the advertisement packed unwanted news programs.
However, some media houses are centrally controlled, biased or propagate rumors so far so that prominent channels have been claimed associate or termed mouthpiece of political parties. The consequence of all sort of user(s) contribution to news piece coupled with biasness of media house can become phenomenal and may turn out to be unmanageable for administration or corporate in wake of an event.
The answer to all these nuances will certainly leapfrog the way news is consumed. Blockchain is a promise which is gradually making inroads into social and institutionalized publication. The beauty of blockchain lies in the ability of network to kill invalid and untrusted news. Gradually, verified peer-to-peer news will gain established prominence leading to the eminent death centralized gatekeepers of news. Possibilities could be –
1. Eliminating biasness of central platforms: Consumers of news grant coins basis confirmation to honest publication to the news source. The news source need not necessarily be a media house, it could be just another peer intending to earn money by validated content generation. Advertisers may also pay in coins to publisher basis context, popularity and trust worthiness of content.
2. Eliminating fake viral news/ rumors (not necessarily in wake of event): A platform for rewarding honest content validated by social users. The social user may himself be rewarded by news owner. These coins can be redeemed by content publishers in dollar or whatever preferable terms.
Truth be told, blockchain is future of News giving controls in hands of consumers. Not only validated news, there are possibilities of workable revenue model. It is a matter of time that outdated rumor mongers will die at the hands of technology.