Blockchain could save the media environment for brands. There has been much written about how blockchain might result in greater transparency in media buying and tracking. If it all works as conceived, it will also be a boon for content creators, enabling direct engagement with audiences and direct payment too. This has the potential to put more leverage back on the side of creators like musicians, film makers, photographers, writers and journalists too. The early interest in NFT’s point to success. Time will tell.
Blockchain has potential to minimize fake news and level set social media.
This is particularly important for brands. Of course, the success of any given blockchain at minimizing fake news will entirely depend on the integrity of its creators and managers. It could just as easily be used to legitimize fake news and fake news sources.
For legacy media outlets, with legitimate journalistic integrity, like the NY Times, fake news is rarely, if ever, an issue. Ads served in this context are elevated by the integrity of the enterprise.
In social media, brands end up in the unchecked context of the user; uncorroborated reporting, fabricated events and misinformation.
Corroborated reporting is a hallmark of journalistic integrity.
Blockchain has the potential to force down a governance of integrity through corroboration and help social platforms maintain social integrity. In effect, this would give brand managers and media buyers leverage, insight and security.
This would also reward journalistic integrity of the blockchain with greater ad volume and minimize fake news, slowly choking off its source of income. Fake news has become a game that is undermining our culture. Advertisers on social platforms have an obligation to uphold the integrity of media environments because there is so much at risk.
Fake news is a not just a race to the bottom, it is the bottom.