NEM Blockchain Built ‘PUBLISH Protocol’ to Facilitate News Media Industry Integration
Blockchain technology benefits will soon be leveraged by the news media arena following an initiative by Kchain & TokenPost to launch friendly software for the integration processes. The two entities plan on improving the news media ecosystem in this blockchain era.
TokenPost already enjoys a competitive edge by dominating the Korean blockchain-enabled news platforms as of press date. Its counterpart Kchain is the leading blockchain consultancy group in Korea.
The milestone project by Kchain & TokenPost has been named “PUBLISH”; it aims to distort the news media network designs for a global participation approach. Blockchain technology will be used for this project to complete a successful ecosystem. Feasibility done so far shows that PUBLISH is well compatible with the practicalities in publishing news content at the moment not forgetting its economic viability.
The PUBLISH blockchain project will be based on NEM, a network that dates its launch back to 2015 when crypto was relatively new to almost everyone. With the help of NEM’s services that include encrypted messages, customizing assets, multisig requirements, PUBLISH hopes to build a network that satisfies all news industry participants i.e. consumers, advertisers, editors within the networks & content creators.
This ecosystem will be powered by the TokenPost coin whose ICO will soon be launched.
Today, the news industry is highly dependent on Ad revenues as opposed to serving the functionalities it specializes in to generate income. Other challenges have emerged over time making audiences across the world doubt the authenticity of some news entities. Furthermore, competition by media companies has led to mergers after consolidation agreements between industry participants.
PUBLISH stands out compared to blockchain projects trying to implement the same idea due to its distinguished roles by network participants. Editors & publishers operating in PUBLISH will be custodians of the blockchain-based news business within the network.
The hybrid decentralization approach used to govern the PUBLISH network is expected to enhance transparent activities & autonomy in publishing news. PUBLISH will further integrate its ecosystem with potential advertisers whom will be obliged to perform their product education role.
TokenPost boasts of being the pioneer protocol whose blockchain operations will be powered by a News altcoin. The PUBLISH ecosystem will facilitate news production depending on the functionality of its platform’s native token. TokenPost CEO, Sonny Kwin, is positive that blockchain tech can solve a good number of challenges encountered by news media in today’s market,
“In order for journalism to survive and serve its value in our society, it has become crucial to adopt blockchain technology. The future of the journalism lies in tokenization — we must adopt cryptocurrencies and apply it to our existing system to aggregate viewer participation while reducing our dependence on advertisement revenues.”
Interested PUBLISH users can apply for a launch membership via the publishprotocol.io website. Alternatively one can follow the PUBLISH project on sub-forms like Telegram or enter into their newsletter subscription option to receive any updates relating to this milestone.
PUBLISH In Detail
This blockchain-oriented initiative by TokenPost & Kchain targets the press arena given its platform’s features and real-world suitability. The network will provide an ecosystem where publishers can leverage by posting content or build avenues to publish their content within the platform.
This enables business continuity for publishers while ensuring best industry practices.
The company is actively engaged in the crypto & blockchain space in organizing community forums like the ‘Blockchain Open’. Its professional services involve provision of the latest milestones and statistics affecting or prevailing in the general cryptocurrency industry.
TokenPost also boasts of being the pioneer firm within the media industry to distribute its own native crypto coin. The firm plans to uphold its independence as a media outlet given its presence in some jurisdictions in the world and to further improve its analysis within crypto markets.
This Singapore-based blockchain start-up enjoys a global presence depending on the regulations. Its main goal is to build the NEM blockchain into a world class network during this Fin Tech era.
NEM has a good funding as well as fundamental prospects given its market position & usability.