Future of Media and Journalism

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👉🏼 Check out further startups, deeptech startups and scaleups disrupting media and journalism

💡 Deeptech startups (#MediatechOnStage) and scaleups participating in the MediaMotor Europe program 👉🏼 view their profiles here:

MME_Portfolio1.pdf4047.3KB

💡 Check out further startups here

Appendix E - 20220921_Startups.xlsx688.0KB

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💰 Digital Micropayments

⁉️ Problems

⚡ Publishers lose control over their products once they are published on the platforms of tech giants such as Meta or TikTok

‼️ Problems to generate revenue with content arose

‼️ Creators are not compensated adequately for their products

✅ Solutions

🖥️

Micropayment tools

💰 👀 Through the concept of pay-per-view, readers can secure a future for publishers

👉🏼 E.g., Platforms like Axate aim to…

💰 … monetize casual news readers, who do not want to commit to a subscription

🖥️

Blockchain-based platforms and Web 3.0 technologies are a perfect solution for micropayments and Web 3.0 content platforms, where users can be rewarded with crypto assets

👉🏼… Blockchain platforms are increasingly suitable for online payments due to the incredibly small payment units of Bitcoin and Ether, as well as the minimal service fees

👉🏼 … crypto wallets can be easily embedded in any digital device, whether a mobile phone, laptop or any other ‘Internet of Things’ device

⚡ E.g., The Lightning Network… ⚡

…is a decentralized network using SC functionality in the blockchain for enabling instant payments across a network of participants 💰

‼️ Every media company should accept cryptocurrency, e.g., Bitcoin or Ether, not only for micro-payments on articles and back catalogue, but also subscriptions

👉🏼

With the emergence blockchain-based platforms and Web 3.0 technologies, the broken revenue model of content creators could be disrupted

👉🏼

With blockchain-based platform, on which content is ranked objectively by the community and the number of clicks is proportional to the amount of price per click, the focus of attention can return to quality journalism instead of Fake News

👉🏼

This is a huge opportunity to regenerate the business model of media companies and compensate journalists, as their revenues are no longer dependent on advertising

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Further digital cryptocurrency and non-cryptocurrency micropayment startups can be found here:

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Data Storage Capacity, Storage Costs & Servercosts

👍🏼

Data storage capacity and durability of data on a blockchain are theoretically infinite

👉🏼 due to the decentralized storage, the information is available at any time with high probability, if there is a sufficient number of nodes holding the full record

👉🏼 failures of the underlying network can be tolerated

👉🏼 in general, it could be assumed, that a higher rate of connections strengthens the network’s resistance to failures due to targeted attacks or technical failure

🔥 How will these aspects develop in the future, and can the approaches and solutions presented be established in the field of media and journalism?

🔥 Nevertheless, the most interesting question remains whether the presented solutions as well as approaches will be effective tools in the fight against the creation and spread of Fake News in the future and if thereby quality in media as well as journalism can be rebuilt

Source of image: https://pixabay.com/de/photos/bitcoin-kryptogeld-btc-währung-2868703/