PressCoin – A Solution For Journalism?

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By Joel Cohen

 

The success of Bitcoin, cryptocurrency and blockchain technologies continues to inspire an enormous amount of  start ups with a recent innovation claiming to have the solution for the problems facing Journalism.  Between December 11th and January 8 an ICO (initial coin offering) will begin for a new platform called PressCoin.

 

The PressCoin team claims it is becoming increasingly clear that the compromised, fake news media is unable to steer clear of corporate/political influence, and the populace are raised on a carefully controlled diet of pseudo-information.

Enter the new CryptoCurrency

 

PFS

 

 

 

 

 

 

 

 

 

According to the PressCoin whitepaper the only way out of this mess is to fix the reliance on ad-revenues, which Facebook/Google have greedily swallowed up.  They also claim is also increasingly clear that only a for-the-people, by-the-people effort can succeed.

 

But how is PressCoin able to achieve this?

 

PressCoin is both a cryptocurrency and a platform; a way to create and transfer value between members, contributors, investors, consumers, and creators.  The platform will be a marketplace of content, data, engagement, ideas, understanding, and actions where value is created and generated.  The currency will be the way the wealth is distributed.  Advertising will apparently still play a role, but there are 15+ revenue streams identified.  The intention is for the currency to be functional in the everyday world of buying and selling, a similar goal that many cryptocurrencies are currently working on.

 

With Bitcoin now available from two specialised ATMs in Acland Street, cryptocurrency is already physically engaging with the people of St Kilda.  2018 is sure to be a big year in this space.

 

If you wish to contribute to the PressCoin ICO  please do.  If this works it will help fund Citizen Journalism and Hyperlocal News, of which St Kilda News is one example.

 

PressCoin – the new Crypto-Economy for an Independent Press

 

*Joel Cohen is the Publisher of St Kilda News and is also earning PressCoin by writing this article.

 

Click here to go to the ICO   If you use this link it also helps support St Kilda News.

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