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TECHNOLOGY

Blockchain may help media the media industry every day, journal- version of the truth to be published and produce the content and the people
who consume it. This is precisely what
ism is under siege and blockchain could accessible to all.
blockchain technology stands to bring
Simran Singh, a content writer for
be the saving grace to all of these com-
become more transparent plications. Media houses, now more Coinedict, said that the media houses about.
than ever, promote stories that reaffirm keep their online content behind pay-
Vajaahath Hussain, CEO of Almora,
has been a dedicated member of the
the status quo along with the views of
walls, charging fees to access stories
the entity that funds them. Real jour-
sion into a full-fledged company that
nalism and 360-degree perspectives online. This compromises the content blockchain industry. He turned his pas-
creators because they tend to fit in the
get lost in a deep web of paid news and commercial models best suited for works on the distributed ledger tech-
Blockchain not only eliminates the role of middlemen but also every day, Gaurang said that blockchain propaganda. Due to the various incen- their organisation. Blockchain resolves nology. Almora is a crypto investment
serves the common purpose of bringing out the truth to the will slowly take over all the sectors be- tives that a writer gets, the content that a number of these issues permeating bank based in Delhi that assists block-
chain focused companies in tailoring
they generate could have compromised the industry by establishing a direct
cause of the high degree of security it
forefront and curbs the centralisation of information, guarantees. motives. Journalistic integrity gets un- connection between the creator and solutions and increasing investment
writes PULKITA AGARWAL Blockchain makes a constantly dermined and not only does this harm the consumer. He further added that opportunities in cryptocurrency. Here
evolving system of checks and balanc- the material that is published but is the widespread use of blockchain based is what he has to say about blockchain
efore we delve into the un- what time. es a possibility. These are all stored in a a severe violation of the principle of technologies could bring about a mas- and its impacts.
derbelly of journalism and Gaurang Nanda, a student and chronological chain on track with all truth on which the entire industry once sive change in the way we receive con-
new media, it is very crucial blockchain enthusiast from Pune, said other people on the network. So to put stood. Even the most reputable news The scope
to understand how block- that even though blockchain is a pretty it simply, you have everybody’s record, sources will present their arguments On the scope of blockchain technology,
B chain works. Blockchain recent term in the market, he has been and everybody has your record. Anyone on the basis of what fits their agenda Hussain said, “We cannot quantify the
technology functions on a distributed hooked on it for quite some time now. who is interested can join the network best, and there is no one to question it On a blockchain reach of blockchain technology with a
yet interconnected network of pre- He understands the tremendous poten- through their personal computer and since most of the media industry en- network or any metric, but wherever there are middle-
configured nodes, which is entirely tial of blockchain and said that the very gain access to all the files. cash on whatever’s more profitable. men and a need to eliminate the trust
encrypted. Existing on the architecture existence of cryptocurrency can be at- Blockchain comes into play here by distributed ledger factor, blockchain would be useful. Be
of the distributed ledger technology, tributed to the blockchain technology. Journalism saviour taking control of information flow from network, every new it in a network of supply chain, finance
blockchain not only eliminates the ne- As a person closely working in the field With click baits and fake news flooding one entity and allowing the uncensored or the media industry; the distributed
cessity of a third party but also has the piece of information ledger technology will find its way in
potential to reduce cost and increase is added block by every sector eventually. But the core
security in transactions and settle - agenda here is to remove one point of
ments. Let’s dig deeper and understand block, so no one can truth and decentralise the power of de-
how blockchain will encompass the livering information to the consumers.
entire world in the coming years. Block- go back and alter “I used to run my startup called
chain stores information across a net- any one block as advogue from Vishakhapatnam,
work of computers which distributes Andhra Pradesh. But I had to drop that
and decentralises the entire systems. idea because it was very similar to ex-
Blockchain, therefore, strips away the tent on a daily basis. isting technologies in the West and
power from any one particular entity The very fact that blockchain elimi- somewhere we can see this pattern a
controlling or manipulating the data. nates the need of a third party to carry lot in the tech industry. India is always
Now how does this work? If you are out any form of transaction or ex - behind the curve because we lack crea-
on a blockchain network or any distrib- change can save this industry, which tivity and tend to replicate the western
uted ledger network for that matter, as of today lives under constant fear technologies. So my co-founder and I
you will store vast amount of records of dying due to its corrupt and even wanted to research more in this area
known as blocks in your personal com- worse, manipulative elements. It’s quite and work ahead of the curve. We got
puter. Every new piece of information evident how this network of distributed into bitcoin, and once we started learn-
is added block by block, so no one can ledgers can help journalism. Through ing more about the technology behind
go back and alter any one block. As it blockchain technology, we can not it and the potential it holds, we stayed
gets uploaded on the network, it is time only introduce uncensored content with it and grew from there. I read an
stamped, verified and downloaded on but also ensure that no one person has article that mentioned 90 use cases of
all the computers on the net. Each new the power to alter facts once published. blockchain in various sectors and I was
block uses the previous block’s identity This is one of the most disarming prob- very fascinated by it. This is how it all
to create its own identity. So suppose I lems of media, and if we had the means started.”
try to delete or alter a piece of informa- of printing uncensored content with- On how the blockchain may revo-
tion, every computer on the network out the filters of a publishing house, lutionise the media industry, Hussain
would know precisely what it is I was we would be able to establish a direct said, “It will enable creators to truly
trying to change, from where and at connection between the people who flourish and give them the freedom

TEHELKA / 15 SEPTEMBER 2018 55 WWW.TEHELKA.COM

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