- Verizon to integrate blockchain into its news releases
- Tags the blockchain project “Full Transparency”
Verizon Inc has made an announcement that it would henceforth integrate blockchain into its services so as to keep a record of the changes made to its corporate communications (press release etc).
Verizon highlights the Edelman Trust Barometer of 2020 which states that 60% of media users believe that media products(news etc) they are in contact with have elements of information they find untrustworthy.
Verizon which prides itself on transparency and trust believes that this new blockchain project tagged “‘Full Transparency” will help its users separate the truth from untruth.
The multinational firm assures its users that they will be able to trust its news releases due to the implementation of the blockchain technology.
The firm also believes the technology would help its users to separate facts from fiction.
According to the firm, the project would be depending on the blockchain technology to make their press release and statements to be more authoritative. This project would also aid the firm to say exactly what it intends its statements to say.
The blockchain technology was built in a partnership deal the firm had entered into with Huge, MadNetwork, and AdLedger. The technology, like most blockchain technology, is built using an open-source distributed ledger technology (DLT).
Full Transparency is an extension of Citizen Verizon
The telecommunication firm has stated that the Full Transparency project would be an extension of its extensive business plan, Citizen Verizon.
Citizen Verizon is a business plan built by the firm with the intention of driving growth in the economic, environmental and social well-being of the individual in communities, schools (education) and at the workplace.
The business plan aims to make use of the promotion of technology as a tool that will aid the development of their goals.
Jim Gerace, head of Communication for Verizon, has called on other firms to adopt a communication system that is based on blockchain. This, he believes, would make their communication more transparent and trustworthy.
He said that the blockchain project would help them ensure trust and corporate accountability.