The teams behind the creation of TokenPost and Kchain have just recently launched a software that intends to showcase the benefits of blockchain technology and token economy to the news media industry. It is well-known that TokenPost is one of the top and largest blockchain-powered news media in Korea. Kchain, on the other hand, is Korea’s leading blockchain consulting group.
The software, called “PUBLISH,” targets to build a blockchain-powered news publishing platform with a global reach that rewards all of its participants fairly. It also serves a realistic and economically viable model to be adopted and built on for publishers.
Despite the high reliance on advertising revenue, the news industry’s legacy model gradually faded to becoming irrelevant during the “post-truth” era. There are other concerns that the said industry faces aside from those mentioned, bringing to the list ‘fragmented readership,’ fake news, and media deregulation and consolidation due to increased competition.
What makes PUBLISH unique from other similar blockchain projects (Civil Steemit, DNN, and others) is the role performed of its publishers and editors as gatekeepers in the business of news media.
PUBLISH aims to improve transparency and autonomy publisher through its hybrid decentralized governance and multi-tiered participative editorial system. Furthermore, it includes advertisers from its token economy. In fact, advertisers are to perform the mandatory task which is to disseminate information to the public, sharing details about products and services that, in past setting, sadly are usually unnoticed.
TokenPost will be the very first protocol use case that will be having a NEWS token within its PUBLISH-based news production ecosystem. Sonny Kwon, CEO of TokenPost, trusts that blockchain technology can be the solution to many problems that the media industry is currently facing:
“In order for journalism to survive and serve its value in our society, it has become crucial to adopt blockchain technology,” said Sonny Kwon. “The future of the journalism lies in tokenization – we must adopt cryptocurrencies and apply it to our existing system to aggregate viewer participation while reducing our dependence on advertisement revenues.”
To apply to become launching members, you may visit http://www.publishprotocol.io/. To further participate in the community, please follow PUBLISH on Linkedin and Telegram where you may also subscribe to its newsletter and get the latest updates about the platform and its upcoming token launch.
PUBLISH is an innovative blockchain-based platform for the next generation of media built by the press for the press. Its mission is to create a highly-accessible and fairly rewarded global blockchain-based media outlet ecosystem for existing publishers to use and build on. With PUBLISH, publishers can sustain their business while providing uncompromised journalism.
TokenPost, a sister company of the EconoTimes and the organizer of the Blockchain Open Forum, is a professional blockchain media outlet providing news and analysis on trends, companies, and key figures in the blockchain industry. TokenPost is also the first media company to issue its own cryptocurrency. As an independent media outlet with reporters located in various countries around the world, TokenPost strives to accurately report information and cover news in an objective and responsible manner, while at the same time providing expert analysis written from a unique perspective.
ABOUT THE NEM BLOCKCHAIN PLATFORM
NEM is an "out-of-the-box", enterprise-grade blockchain platform which launched in March 2015. NEM has industry leading blockchain features which include: multi-signature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. Companies with legacy systems can "plug 'n play" with NEM.
ABOUT THE NEM.io FOUNDATION LTD
NEM.io Foundation is registered in Singapore, operating globally. It was launched to promote NEM's blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.