Blockchain Technology Can Revive Online Journalism – Here’s How

Blockchain technology is all regarding cryptocurrencies. Bitcoin is that the terribly 1st and also the most generally used application of blockchain technology. However, though a reasonably new technology, blockchain has additional applications than just bitcoin (or different cryptocurrencies) it will be structured in several ways.

Online journalism faces 2 major elementary challenges. The primary challenge is that the collapse of ancient advertising models that supported journalism for a protracted time. The second challenge is that the rise of the clickbait (a link designed to lure end-users to a definite webpage) and of the pretend news phenomena. Each trend has a diode to a gradual wide-scale dwindling of support and public confidence in online media.

Online journalism firms have solely 2 viable funding choices. The first, and additional common is advertising. Due to its accrued security levels yet as long chains of believability, blockchain will facilitate on-line publishers regain their consumers’ trust.

Blockchain Technology

Blockchain technology is the solution to the net journalism funding drawback since blockchain can facilitate a micro-payment scheme, that wasn’t sensible or economical within the pre-blockchain era.

Another vital side of the blockchain, that is feasible due to the cryptocurrency behavior modification, is micro-tipping a replacement potential payment model for the journalism trade. Existing systems or services for process payments in paper money square measure comparatively pricey. However, within the blockchain, the method of tipping is way cheaper, and authors would be able to collect micro-tips for.

Due to the changeless and permanent nature of knowledge among a blockchain system, the mission to fully erase content from on-line history or to excise on-line journalism archives becomes nearly not possible.

The adoption and use of blockchain technology square measure still in their early beginnings. Like each new technology, the utilization of blockchain isn’t a nostrum. According to C-tech news, it will not solve all issues, and there square measure problems that have got to be thought about as

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Shivani Bedre has been working as a content writer/editor for many years. With her interpersonal skills, she has the ability to generate content in a clear and precise manner. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy the website.

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