Forbes partners with Civil to try its hand at blockchain
Well, it seems that no one is far away from the reach of the technological revolution called the blockchain. The latest one to give in to the charms of this innovation is the media industry. In an interesting development, Forbes became the first major media organization to commit to publishing content on the blockchain. The leading international business media outlet has entered into a partnership with blockchain-based platform Civil to publish its content on a decentralized network. This was announced by Civil's co-founder Matt Coolidge in a Medium blog on Tuesday.
The blog goes on to say that Forbes will be using Civil’s platform to experiment with new methods of reader engagement. And like all other newsrooms running on Civil, all content that Forbes publishes via Civil’s blockchain platform will adhere to the Civil constitution’s ethical journalism guidelines.
Civil’s blockchain-based platform facilitates a more direct, peer-to-peer exchange of value between journalists and the people who read, watch and/or listen to their work. This latest move by the media powerhouse is an attempt by the media house to increase user engagement across all its platforms.
Speaking about this latest partnership, Salah Zalatimo, Senior Vice President of Product & Technology at Forbes said, “We are relentlessly focused on rapid experimentation and implementation so that we can determine what’s in the best interest of our audience and what is next for our industry.”
Under the agreement, Forbes will start publishing its metadata from select Forbes articles to the blockchain via Civil from the first quarter of next year. And if everything goes as planned, the media house may begin committing metadata from all of its articles to the Civil’s decentralized network at some point later next year.
“Civil’s mission is to power sustainable journalism throughout the world, and Forbes’ commitment to regularly publish content on our platform is a major milestone for our approach,” said Matthew Iles, CEO at Civil.
The Forbes brand is one of the most trusted voices in entrepreneurial capitalism and reaches nearly 120 million people worldwide every month through the Forbes and Forbes Asia magazines. It has 40 licensed local editions covering more than 70 countries and experts feel that it is more equipped than others to test this technology which some feel is inevitable.
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