Verizon has launched tech to log press releases on Ethereum blockchain

The US telecom Verizon has announced the launch of a blockchain-based, “open-source newsroom product designed to raise the bar for corporate accountability”.

Dubbed “Full Transparency,” the proof-of-concept is described as ” a blockchain-verified record of changes to its news releases.”

The firm said, “All news releases published to the Verizon Newsroom will be secured and bound using cryptographic principles, so that subsequent changes can be tracked and contextualized”.

“As a technology company that quite literally connects people to information, we are excited to bring Full Transparency to market—a product that, in its own quiet way, can help ensure corporate accountability and trust,” said Jim Gerace, Chief Communications Officer for Verizon. “We invite organizations across the world that prize transparency as much as we do to adopt blockchain-verified communication practices.”

“Blockchain has long been associated with cryptocurrency, but that is just the beginning of what it can do,” said Adam Helfgott, Project Lead at MadNetwork. “MadNetwork is thrilled to power Verizon’s approach, exploring how blockchain can be a critical part of enterprise software at scale, providing validation and authentication in the digital world.”

Verizon’s technology is vaguely similar to that of Everipedia, a blockchain-based version of Wikipedia that launched in 2018. Everipedia records the number of upvotes edits to each post have, so that everyone is on the same page about the content stored within it.

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