Verizon announced the launch of a blockchain-based, “open-source newsroom product designed to raise the bar for corporate accountability,” a report says.
The new initiative named ‘Full Transparency’ is meant to immutably document the company’s news releases and provide a record of changes to the communications on a public blockchain. The firm continued:
A data from 2020 Edelman Trust Barometer shows that nearly 60% of consumers worldwide believe that that media they consume is contaminated with untrustworthy information, Verizon says that transparency in news releases was “important step” that a “publicly traded” company can offer.
Also, Jim Gerace, the Chief Communications Officer for Verizon called upon the global organizations to adopt blockchain-verified communication practices and remarked:
Verizon already made use of new blockchain platform and posted the first news story last October 30, accompanied with updates of the information recorded. The Full Transparency initiative is an extension of Citizen Verizon; it is a collaboration between marketing company named Huge, MadNetwork and AdLedger.