News organizations operate complex systems that employ reporters and editors to research, report, write, and produce stories, as well as sales professionals to manage revenue streams and technology professionals to design and build data servers, firewalls, recommendation algorithms, and tracking systems. But while legacy publishers with ample financial resources can design and implement these systems, most independent journalism startups do not enjoy the same level of resource allocation.
As a result, many smaller and startup publications seek alternatives to the central control of centralized platforms and wish for the efficiencies offered by blockchain-based solutions. While the technology is still in its experimental phase, significant trends and use-case scenarios are being developed.
Blockchain first became famous as the digital money technology that supports cryptocurrencies, but its fundamental principles of immutability and transparency are widely applicable to other applications as well. The technology enables trusted, decentralized networks that can securely store and protect digital data.
In some cases, these technologies also allow for the verification of that data without needing a central authority. This is where blockchains’ security protocols — such as cryptography, proof-of-work, and community consensus — come into play.
Various projects have begun to apply blockchain’s core technology to journalism, ranging from storing story timestamps and metadata in secure databases, to providing registries of advertisers that are trustworthy and verifiable compared to the inscrutable auction-mechanism of ad exchanges. These databases may become increasingly important tools for the broader media industry, as they will help to establish trust between news organizations and their audiences.