Verizon Implements Blockchain-powered News Release Verification

Verizon Implements Blockchain-powered News Release Verification

By RTTNews Staff Writer | Published: 11/3/2020 9:23 AM ET

Verizon is implementing a blockchain-verified record of changes to its news releases using its 'Full Transparency' initiative. It has the potential to change the way companies communicate to their audiences.

The Full Transparency initiative is a proof of concept built with open-source blockchain technology in partnership with Huge, MadNetwork and AdLedger. The blockchain-based, open-source newsroom product is designed to raise the bar for corporate accountability.

Full Transparency is expected to transform how the Verizon Corporate Newsroom publishes news releases by providing an authoritative record of changes to public communications.

All official news releases published to the Verizon Newsroom that incorporate Full Transparency will be secured and bound using cryptographic principles, so that subsequent changes can be tracked on the blockchain ledger and contextualized. All details and changes are recorded and stored with their own unique hash code and becomes a permanent part of the chain.

A blockchain is a shared ledger or record book where all relevant details about a content record are permanently logged and any changes rigorously tracked. Once information is recorded in the shared ledger, it's almost impossible to reverse or change it.

The lack of transparency has the potential to undercut corporate credibility, particularly for news releases from a publicly traded company. Nearly 60% of consumers globally believe that the media they consume is contaminated with untrustworthy information, according to the 2020 Edelman Trust Barometer.

Full Transparency will help change the way corporate newsrooms provide visibility to their readers and hold themselves accountable for what they communicate to the public.

The Full Transparency initiative is an extension of Citizen Verizon, a responsible business plan that drives economic, environmental and social advancement by promoting technology as a tool to improve communities, education and the workforce.

The initiative will help combat the spread of misinformation and creates a trustworthy, authoritative source for confirming company information. It documents all text changes made to the official news releases and all details are timestamped, making them easily verifiable.

This proof of concept is intended to convey a level of transparency that's unprecedented from a corporate newsroom. Verizon intends to help other organizations build trust and transparency through technology to bring more credibility to their publishing model.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe

Verizon Joins Facebook Ad Boycott

Verizon Joins Facebook Ad Boycott

By RTTNews Staff Writer | Published: 6/26/2020 9:28 AM ET

Verizon joined an ongoing advertising boycott of Facebook and Instagram, that was organized against the social media giant's handling of objectionable posts as well as its moderation approach.

The telecom company is the largest till date to join the "Stop Hate for Profit" boycott organized by the Anti-Defamation League or ADL. The campaign is seeking advertisers to suspend their spending on Facebook and Instagram ads for the month of July 2020.

ADL, in an open letter, pointed out that Facebook's hate speech, incitement, and misinformation policies, as well as harassment victim services are inadequate.

Between May 22 and June 20, 2020, Verizon reportedly spent nearly $1.5 million on Facebook and nearly $500,000 on Instagram.

Ice cream brand Ben & Jerry's and various sports and outdoor lifestyle companies have already joined the boycott.

Meanwhile, Facebook vice president of Global Business Group, Carolyn Everson, reportedly said the company is in ongoing talks with advertisers and trying to improve its moderation approach.

For comments and feedback contact: editorial@rttnews.com

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Article written by an RTT News Staff Writer, and posted on the RTT News.com website.

Article reposted on Markethive by Jeffrey Sloe