The news business is out of balance
The need for accurate news is a natural one, it is as old as humanity. The classic medium for the transmission of fresh news, which has been established for centuries, is the printed newspaper. We all have our preferences regarding our choice of trusted newspapers and even journalists. The free press and our free choices are almost as important to us as our daily bread.
In old times, it took days or even weeks for news to reach people in remote areas. Daily newspapers have radically shortened the time, and people were happy to pay for that. At the same time, the professional level of reporting increased.
The introduction of the Internet allowed a further shortening of the time interval between the discovery of news and its publication. While the technical progress is beyond doubt, the downside is that the professional level of reporting declined. This is because we have imperceptibly fallen under the illusion that there is quality for free.
Speed: yes! Professional quality: yes!
Of course, we will always require the wonderful speed of the Internet. And we may oversee that the discovery, the intellectual processing, and the comprehensible formulation of news reports are delicate services. These deserve respect. And they cannot be given for nothing, because journalists and publishers cannot live without an income either.
In the absence of professionals, there is no way to quickly distinguish a well-written rumour or even a lie from the professionally reported reality.
The Ethereum blockchain paves the way
The forthcoming MulTra app www.multra.io is the blockchain-based straight way to a revamp of the system: Readers choose the cost-free news content from all professional sources, the decision is theirs. The MulTra app automatically rewards them for reading, by crediting MTT tokens to a wallet which MulTra sets up for each user of the app. Once the balance of tokens has reached a certain level, these can be used for free access to higher value chargeable news site. The token holder is free to choose. Some readers will decide to stay on board as paying customers, because they appreciate the superior quality, some won’t.
This gentle nudge system will generate quite some income for publishers and journalists. The smile on the lips of the members of the MulTra team can be seen already now.
Article by Dr. Martin Bartels
MulTra Website: https://www.multra.io/
Medium Blog: https://medium.com/@multratoken