Could blockchain save journalism? : An explorative study of blockchain’s potential to make journalism a more sustainable business

• Ever since the Bitcoin phenomenon gained momentum in recent years, much has been written about blockchain applications and prospects in the FinTech industry, business and healthcare. Yet, very little if any scholarly work has been done to study how the peer-to-peer, decentralized and highly disruptive blockchain technology may impact or be used by news media and journalists. This article is an effort to contribute to the body of scholarship on journalism as well as distributed ledger technologies (DLTs) by exploring blockchain’s potential applications and challenges when dealing with journalism's most fundamental pillars such as fact checking, data gathering and analysis.The study explores two case studies demonstrating distinct uses of permissionless blockchains. The first revolves around blockchains as a source of information that could be used by data journalists to extract valuable insights regarding payment transactions and network formation as illustrated by the investigative reporting done on the 2017 WannaCry ransomware attack.The second case study is around the use of the technology as a basis for revolutionizing journalism as an industry by leveraging the technology’s core characteristics, namely decentralisation, immutability and transparency. The latter case study will look into two ongoing journalistic projects namely the Distributed News Network and Civil, which promise allowing the creation and management of content without centralized control or even a centralized newsroom in ways that could effectively limit the spread of fake news and propaganda.The paper analyses the objectives, methods and limitations of the case studies and uses interviews and content analysis of empirical data obtained from primary sources. By reflecting on Rogers’ theory of the diffusion of innovation, the study assesses the impact of blockchains in comparison to other earlier technologies such as the diffusion of the Internet.It is hoped that the conclusions drawn from this study could help inform journalists and media about the potential uses and limitations of blockchain technology in journalism as well as initiate a scholarly curiosity with a futuristic outlook to understanding the role of cutting edge and disruptive technologies on society.

Subject headings

SAMHÄLLSVETENSKAP  -- Medie- och kommunikationsvetenskap -- Medievetenskap (hsv//swe)

SOCIAL SCIENCES  -- Media and Communications -- Media Studies (hsv//eng)

Keyword

blockchain

journalism

disinformation

Ethereum

media

bitcoin

data journalism

fake news

distributed ledger technologies

Other research area

Annat forskningsområde

Publication and Content Type

ref (subject category)

kap (subject category)