The quality of journalism has reached an all-time low, increasing political polarization and placing democracy itself at risk.
The established news media, including Internet-based players such as Facebook, cannot steer clear of political and corporate influence, and the public knows it.
The only way to alleviate the bias is to remove the reliance of news on advertising revenues.
The solution is a more decentralized media where many opinions are accessible and complex subjects are organized into subtopics and navigable. Blockchain technology provides the foundation for such a decentralized platform.
PressCoin, a new cryptocurrency, uses blockchain technology to support large scale collaboration for journalism, elections monitoring and citizen action networks.
PressCoin is built on Quintype, a cloud-based technology that creates data-driven, real-time and intelligent omnichannel experiences. The technology provides the foundation for PressCoin’s new news services.
By partnering with CointypeX, PressCoin will operate with other cryptocurrencies and fiat currencies, providing a bridge between its independent publisher crypto-economy and the rest of the world.
CointypeX will enable PressCoin NEWS token conversion into all fiat currencies by means of a regulator compliant live Know Your Customer process. Investors will be able to buy PressCoin tokens using existing channels such as credit cards, debit cards, wire transfers, EFT, etc. Existing cryptocurrencies such as bitcoin, Ethereum and Litecoin are also accepted.
The PressCoin tokens, for their part, are unique from other cryptocurrency tokens in that they are equity backed. Presscoin PLC’s management will adhere to shareholder and transparency requirements of United Kingdom public companies.