Introducing Full Transparency
In a bold move towards accountability, Verizon has launched an innovative platform known as Full Transparency. This blockchain-based, open-source newsroom product aims to document company news releases immutably on a public blockchain.
A Step Towards Authenticity
Verizon wasted no time, posting its inaugural news story through Full Transparency just yesterday. Notably, any modifications made post-publication are meticulously tracked on the platform. For now, only text changes are kept under the blockchain’s watchful eye, ensuring that even slight edits don’t slip through unnoticed.
The Media Landscape Today
With rising concerns over misinformation hobbling trust in media—57% of individuals globally are skeptical of their media sources, according to the Edelman Trust Barometer—this new initiative comes at a crucial time. Verizon’s foray into blockchain signifies a response to the growing mistrust and the rising tide of fake news:
- 57%: Number of people unsure of their media’s integrity.
- 76%: Percentage of individuals worried about false information misuse.
Words from Verizon
In a statement, Verizon’s Chief Communications Officer, Jim Gerace, remarked, “As a technology company that quite literally connects people to information, we are excited to bring Full Transparency to market — a product that, in its own quiet way, can help ensure corporate accountability and trust.” He further opened an invitation for other organizations that prioritize transparency to embrace these blockchain-verified communication practices.
Setting the Standard for Transparency
Verizon aspires to set a new benchmark for corporate responsibility with Full Transparency. Every news release published is not just a message; it’s a secured document bound by sophisticated cryptographic principles. This means all future changes can be tracked and put into context, elevating the standards of media integrity.
Collaborative Efforts Behind Full Transparency
The creation of this platform is the result of a collaborative effort involving marketing company Huge, blockchain data storage provider MadNetwork, and nonprofit entity AdLedger. These partnerships showcase the potential of modern technology in ameliorating traditional corporate communication.
Exploring Blockchain’s Potential
Interestingly, this isn’t Verizon’s first tango with blockchain technology. Earlier, in 2020, the company explored the use of blockchain for enhancing security measures. It seems crowdsourcing genuine information might just be the next logical step in their blockchain journey.
