PUBLISH is pleased to announce it has participated in a roundtable on blockchain and the future of journalism on August 26th.
In the conference "2022 Future of the journalism" which was held on August 26th, there was an opinion that blockchain is the new solution for journalism. The main reason was that blockchain could bring new business models and ecosystem through decentralization, NFTs, and so on. This could also bring back the initiative from the platform to the journalism industry.
Many of the participants pinpointed that the problem is on the platforms. Kwon Sung-min, CEO of PUBLISH also mentioned news labs and ad agencies around platforms such as portal is the problem. "The tragedy is on the news consumption," he said. "As most of the news consumption is oriented in the platform, they take 60% of the original ad fee by technology. And by doing that, the profit and the wager of the journalism industry falls but the news production and distribution are increasing for maintaining the traffic" and mentioned, "This is a tragedy for journalism overall."
But through blockchain, the new type of ecosystem can be up and running without going through the platforms. And the interactions in the ecosystem will be for the members alone. PUBLISH create an ecosystem through NFT and a compensation system. Like in TokenPost for example, the company within the PUBLISH ecosystem, there are cases that the revisiting rate exceeds 5 times after compensations such as NFTs. This could be a leading case for making a breakthrough for the somewhat depressed journalism industry.
You can see the original article in the link below.http://www.mediatoday.co.kr/news/articleView.html?idxno=305601