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Verizon Developing Blockchain-based Solution for Full Transparent of Its Press Releases

By Robin Wong | November 1, 2020

Verizon has reportedly built a blockchain-powered open-source newsroom solution – dubbed Full Transparency – primarily focused on enhancing the quality for corporate accountability.

Specifically, Verizon’s Full Transparency was designed with a goal to bring immutability to the recording process of the company’s own news, published across a public blockchain. 

Verizon reportedly finalized the posting of its first news story via the platform on October 30th, as disclosed by one Verizon spokesperson. Alterations initiated following the story’s initial publication were also recorded. At the moment, text changes exclusively are trackable across the blockchain. 

During the past years, fake news, fact-checking and censorship have reportedly presented issues for social media and traditional media alike.

“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. We invite organizations across the world that prize transparency as much as we do to adopt blockchain-verified communication practices.” Verizon’s chief communications officer, Jim Gerace, reportedly remarked regarding the development. 

Verizon reportedly expected its new project would establish a new standard, regarding corporate transparency and responsibility. 

cryptographic principles will reportedly be employed as a means to secure and bound every release rolled out to the general audience, consequently allowing for additional tracking and contextualizing.

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