Global Media Blockchain Alliance Aims For

Global Media Blockchain Alliance Hopes to Develop “Healthy Public Opinion Environment” for Blockchain Technology

With Hong Kong becoming more interested in blockchain technology, they are making many efforts to make sure it is just as well-received with the rest of the world. The Global Media Blockchain Alliance was recently setup in Hong Kong, helping to develop a healthier and more positive opinion of this technology. This establishment was reported by the China Times on July 20th.

The recent Global Media Blockchain Summit was held just yesterday, where the Alliance promoted their new “Hong Kong Initiative.” The Alliance discussed how the media plays an important but unique role in how the blockchain industry is perceived by the rest of the world.

The Global Media Blockchain Alliance is made up of over 100 mainstream media, as described by a published article in China Times. However, the Alliance plans to setup an entry mechanism for new media that wants to be a member, which will be supported by the blockchain.

Along with organizational changes, blockchain technology will also influence the social aspect of the industry, according to Ding Laibin, who is the secretary general of the Alliance. According to a post by People’s Daily, Laibin has also said that the media needs to participate by understanding the value that the blockchain industry holds. He cited blockchain’s benefits, like reducing the risk of fraud, as a reason for media to play a role in the long-term success of blockchain.

Hong Kong is still in the process of rising up as a global leader with blockchain technology. On July 18th, CoinTelegraph said that China’s plan was to establish and run an international research group. The group would focus on standardizing the Internet of Things, along with blockchain technology, and it was already established by the International Organization for Standardization (ISO). ISO has partnered with the International Electrotechnical Commission (IEC) to make this group and their progress a reality.

According to CoinTelegraph, the Monetary Authority in Hong Kong is working to release their own blockchain trade finance platform. The launch is planned for sometime in August this year.

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