Forbes is venturing into blockchain as part of its plan for the future of its journalism content through a new partnership with Civil in a partnership based on the Ethereum network.
Forbes’ new partnership with Civil will allow it to publish content on a decentralized platform. The 100-year-old publisher is convinced that the move might help save journalism as we know it. Civil cofounder Matt Coolidge recently announced the partnership and described it as a milestone for the journalism industry. Salah Zalatimo, Forbes’ senior VP of product believes said, “Forbes and Civil believe passionately in the mission of journalism, and together we can provide audiences with a level of unprecedented transparency around our content.”
The Forbes executive also pointed out that his company is heavily focused on experimenting and implementing new solutions that will attract audiences and improve journalism’s future. Zalatimo revealed that the partnership with Civil will also focus on expanding content reach and also exploiting new revenue opportunities.
Forbes plans to officially start experimenting using Civil’s platform in 2019 by publishing article metadata on the blockchain. The publishing firm plans to publish all its article metadata on the blockchain platform if the experiment proves successful. This means that the firm will be storing an article’s proof of existence on the blockchain. It will also give authors more credibility for their work.
The Axios news outlet in the U.S revealed that Forbes will initially publish crypto-related content on the blockchain platform before adding content related to other topics. The announcement also revealed that blockchain management tools for editors and writers will be integrated into Forbes’ content management system (CMS).
Forbes will get to own CVL tokens through the partnership
Forbes will hold CVL tokens as part of the partnership agreement. These are the Civil platform’s native tokens and it is not clear whether Forbes will receive the tokens freely or by purchasing them. The tokens will be a critical part of the self-governance system on the blockchain platform.
Forbes’ venture into the blockchain space is a key moment for the journalism industry since the firm is one of the major players. It might end up influencing other publishing firms to go down the same path.