Sunday, November 19, 2017

Independent journalists team up together to create a cryptocurrency to take on big media and fake news

One of the hardest things for the alternative media to deal with is the extraordinary amount of monetary and political capital that the mainstream media has in the fight to report truthfully on the news.  Ie... over 90% of the mainstream media is controlled by just six major corporations and internet sites such as Youtube and Facebook have given in to political pressures to de-monetize truth in any articles or videos that could threaten the established hierarchy.

Additionally, the Federal government has also gotten into the act of attempting to silence alternative media by voting to label non-controlled media outlets as 'foreign agents'.

So in response to this, there are now two movements in place to use cryptocurrencies as the means to acquire capital which would allow independent and alternative media journalists the ability to continue their fight against big media and their fake news and propaganda.

The new virtual currency, named PressCoin, is aimed at empowering independent journalists with new tools to stand against fake news, as well as improving their objectiveness and financial independence. PressCoin is reportedly expected to wean journalism off the advertising revenue model, upending corporate media monopolies with collaborative content. 
“Today journalists are bound to the vested interests of publishers. More and more publishers are chasing advertising dollars. To get views, they defer to social media platforms. And so does their content. This not only compromises the integrity of quality, independent journalism, it also pushes money onto social media platforms,” says Amit Rathore, PressCoin’s President, as quoted by Payment Week, a New York-based magazine covering mobile payments. 
A 28-day initial coin offering (ICO) is scheduled on November 22, with an initial price of one PressCoin set at one US dollar. The cryptocurrency is registered in the UK and will be operated as a public limited company after the ICO is completed. The creators are planning to publicly release 100,000,000 units to investors during the offering. – Russia Today
In addition to PressCoin, Steve St. Angelo over at SRSRocco has created their own alternative media network called the Commodity Ad Network which is also funded by cryptocurrencies through an ICO, and is expected to go live by the beginning of next year.

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