View Markets Data →

Media giant Forbes is officially testing out the blockchainin exciting new partnership

It has been announced that massive global media outlet Forbes is joining the blockchain community in new partnership with blockchain-firm Civil.

Forbes has partnered with Civil, a blockchain-based firm, with the intention of using a decentralized network to publish content.

As announced by Civil’s Matt Coolidge,  this stands as one of the “biggest endorsements yet for blockchain technology’s transformative potential for the media industry.”

Coolidge explained that the Civil network, working systematically with Forbes’ website, will offer journalists the opportunity to upload content from the beginning of 2019. The content will be posted automatically to Forbes’ website. Coolidge explained that publishing through the Civil platform will establish an author’s identity and credibility – and as it is on the blockchain, this will be fixed without a chance of removal.

According to American news outlet news Axios, this stands as a test and the system will only regard cryptocurrency related news at the moment. However, if the process works well and the experiment is seen as a success, other topics will follow.
Senior Vice President of Product & Technology at Forbes Salah Zalatimo commented:
We have an opportunity to participate in the development of this ecosystem and help shape it around our unique business model.”

Zalatimo added:

“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. Forbes and Civil believe passionately in the mission of journalism, and together we can provide audiences with a level of unprecedented transparency around our content. We’ll also be able to expand the reach of our writers and identify new revenue channels over time.”

This stands as a major step for blockchain as the Forbes brand has a reach of more than 120 million people worldwide. In the collaborative project, the partnership is hoping to shape a “new economy for journalism” using the blockchain which offers “a more direct, peer-to-peer exchange of value between journalists and the people who read, watch and/or listen to their work.”