Tag: media

New York Times Experiments with Blockchain to Combat Fake News

The New York Times made an announcement regarding their new project by their research and development team focused on experiments using blockchain. They are finding a solution to combat misinformation, adulterated media issues that harm publishers. This solution can be used by the media industry globally in the future.

Their News Provenance Project plans to use Hyperledger Fabric’s permissioned blockchain, an open-source blockchain framework to authenticate news and photographs. Their team consists of technologists and journalists who are also collaborating with IBM Garage on the development of the proof of concept. The project will consist of storing the details of the news item including the information regarding the where a photo/ video was taken, the person who took it as well as the publishing and editing contextual details. The research and development team believes that adding context to images or videos may bring a positive and clarifying effect for the online media ecosystem.

“All hype aside, blockchain offers mechanisms for sharing information between entities in ways we think are essential for establishing and maintaining the provenance of digital files,” stated the News Provenance Project.

As of their current stage, the research and development team are conducting user-centered research by using a blockchain-based system, which the team can benefit from its tamper-proof feature. The participation of the majority of the media industry will affect the success of the project.

Image via Shutterstock

Coinbase CEO Avoids Mainstream Media, Prefers YouTube, Podcasts and Blogs

Brian Armstrong the Coinbase CEO, has joined the list of cryptocurrency executives who prefer to leverage their own blogs and platforms to distribute information to the media, as opposed to direct contact with any journalists.

Coinbase CEO, Brian Armstrong noted in a tweet that company leaders seem increasingly unwilling to engage with the mainstream media and prefer to use social media platforms like Youtube, Twitter, and their own blogs.

Coinbase CEO Circumvents Mainstream Media

According to the tweet discussion, Armstrong does believe that there are credible journalists in the media and that mainstream mediums still fulfill ‘an important role in society’. However, he asserts that he believes the best strategy is to build a network of a handful of respected journalists and use modern social platforms the majority of the time.

Armstrong weighed the value of going on a national TV program to promote his site, which he claims may generate 100 or so visitors; versus specialist tech publications which tend to drive traffic into the thousands.

Armstrong Not Alone as Crypto CEOs Show Support

Armstrong’s post did instigate a small discussion on Twitter regarding how other cryptocurrency executives and CEOs try to navigate the world of journalism and media communications.

Kraken’s co-founder Jesse Powell was onboard with Armstrong suggesting that too many journalists are out for a sensational click-bait headline. Powell said, “It’s a high risk, low reward relative to publishing your own content or doing a live podcast/video, which can’t be distorted.”

In contrast Catherine Coley, the CEO of Binance.US responded to the tweet in support of the ‘amazing storyteller’ in the mainstream media. 

 I actually believe in the press and how important it is. Yes, we can speak directly to current users now, but for advancing the industry it’s more about telling stories through amazing storytellers. We will continue to support them, especially our fearless crypto reporters.

Image via TechCrunch

China Promotes DeFi and Ethereum on CCTV, But Isn't Crypto Banned?

China has appeared to be hostile territory for cryptocurrency since it officially shuttered all crypto exchanges in the country in 2017. But if that is the case, why did Chinese state media run a segment promoting cryptos, Ethereum and DeFi over the weekend?

Since China’s cryptocurrency exchange ban, which was announced in September 2017, and made it illegal for Chinese mainlanders to exchange digital currency—there has been a general consensus that China was making way for its own government-controlled central bank digital currency (CBDC) or DCEP.

However, a segment that aired on China state television over the weekend may be evidence that those outside China have misinterpreted Beijing’s intentions towards the emerging assets sector. The program which reaches hundreds of millions of Chinese viewers and is run by the state appeared to heavily promote the potential of cryptocurrencies, Ethereum, and DeFi.

Chinese State Television on Ethereum and DeFi

On Sept. 26, China Central Television (CCTV) the official state channel which broadcasts to one billion views in China, aired a segment on the potential of cryptocurrencies.

The segment was shared via Twitter by Matthew Graham, a crypto-investor with a focus on digital assets in China. The content of the program strongly contradicts the perception that China is strictly against crypto trading and transacting. In fact, the media segment discussed how digital assets and cryptocurrency had been outperforming traditional asset classes like gold and the stock market.

The anchors of the China state news segment spent much of the episode discussing Ethereum as a top-performing crypto that had even outpaced Bitcoin, XRP, and other altcoins.

Curiously, decentralized finance (DeFi) protocols were cited as a means to combat the inflation fears of fiat currency, despite China’s relentless pursuit of its own digital fiat currency, the DCEP digital Yuan.

The televised segment failed to mention any of China’s past animosity towards Bitcoin or cryptocurrency, leaving many scratching their heads over the sudden perceived change in attitude by Beijing who would have had to have authorized the segment.

Chinese Blockchain News Flash Media Platform Bi Shi Jie.com Suspends its Operations

China’s well-known cryptocurrency advisory platform, Bi Shi Jie, reportedly suspends its APP and website operations, effective immediately, according to local media coverages.

Reportedly, the company’s downloads linkage access to its official website-“Bi Shi Jie.com”, and the mobile app on the Apple Store has lost its function.

No official announcement related to the suspension so far. Users can still enter the official webpage and view previous related information about cryptocurrencies through “Bi Shi Jie.com”. At the time of pressing, the Bi Shi Jie official website is still updating.

Bi Shi Jie focuses on the local market, by providing digital currency information, bitcoin and other digital currency exchanges and wallet tool navigation, investment and financial news, market conditions, and other content services.

According to software company SEMrush, the monthly visits to the Bi Shi Jie website are as high as 327,607, with the monthly visit growth rate reaching 166.61%. On the other hand, the cumulative number of downloads of its Bi Shi Jie APP in the past 30 days has exceeded 36,000. The monthly download growth rate is as high as 11.89%, citing Apptopia’s analysis of mobile application metrics.

Bi Shi Jie, which was established on August 28, 2017, is one of the leading virtual currency information platforms in the Chinese market. Tan Chenhui serves as the founder and CEO of Bi Shi Jie. The company completed the Series A financing in March 2019, and the specific financing amount has not been explicitly disclosed. The transaction amount is approximately tens of millions of RMB. Investors include Shunwei Capital, QF Capital, FREES FUND.

US Media Giants Block AI Crawlers to Protect Copyrights

Highlighting the tension between media companies and artificial intelligence (AI) technology, a recent Wired report has revealed that 88% of leading news outlets in the United States are actively blocking AI web crawlers. This move, driven by concerns over copyright infringement and the uncompensated use of content, reflects a growing resistance within the media industry against the data collection activities of AI entities.

The survey conducted by Ontario-based AI detection startup Originality AI encompassed 44 top news sites, including prominent organizations such as The New York Times, The Washington Post, and The Guardian. It found that these media houses have initiated measures to restrict the data collecting activities of AI companies. OpenAI’s GPTBot has been identified as the most widely blocked crawler, with many media companies implementing restrictions especially after OpenAI’s announcement in August 2023 that its crawler would respect robots.txt flags, which are used by websites to control web crawler access.

This escalating conflict reached a new peak last December when The New York Times filed a lawsuit against OpenAI. The lawsuit alleges copyright infringement due to the unauthorized use of published works by OpenAI for training chatbots. The New York Times contends that millions of its articles have been utilized in training chatbots, which now serve as alternative sources of information, potentially undermining the credibility and financial sustainability of traditional media outlets. The media giant is seeking billions of dollars in statutory and actual damages, marking a pivotal moment in the legal landscape surrounding AI and media.

During a hearing in the Judiciary Committee’s privacy and technology subpanel, a group of witnesses representing local and national media organizations urged lawmakers to intervene and prevent AI companies from using copyrighted news content without appropriate credit or compensation. They argued that AI companies are using the “fair use” provision of U.S. intellectual property law to justify training their models on copyrighted news material. However, this interpretation of the fair use statute is challenged by the media organizations, which argue that the use of their content for training AI models goes far beyond the established legal guardrails.

As media companies bolster their defenses against AI bots, the dispute underscores the complex interplay between technological advancement and content protection. It raises critical questions about the future of information dissemination, journalistic integrity, and the democratization of knowledge in the era of technological disruption.

This development has implications beyond the immediate legal battles and technical measures. It delves into fundamental issues about the role and impact of AI in the media landscape, highlighting the need for a balanced approach to innovation and accountability in the digital age.

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