Fox Partners With Time to Employ its Blockchain Protocol for Content Verification
Fox Corporation has formed a partnership with Time media giants that will enable Fox’s Verify protocol to be used for the creation of immutable content licenses and the verification of the aforementioned licenses.
Partnership Aims to Combat Misinformation
According to an official press release, the two media giants have collaborated by developing mechanisms ensuring that only genuine reports are published and that the fakes are being rapidly corrected.
Time, the first outside publisher to partner with Fox’s Verify protocol, will collaborate with Fox to introduce blockchain-based verification in media.
The COO of Time, Mark Howard, admitted, “Time is proud to be a trustworthy and reliable source through Fox’s Verify when the public’s access to reliable sources is greater than before due to fake news, misperceived information, etc”.
What is Fox’s Verify Protocol?
During January, Fox‘s Verify protocol was launched on the proof-of-stake (PoS) network of Polygon which is a blockchain platform. The protocol makes use of the technology of sending and signing that will enable the content and originality of digital content to be tracked worldwide. It has declared the age of the use of AI platforms and media firms as the dominant platforms for the verification of more than 300,000 articles made by Fox without the Verify platform.
Time’s participation in the project represents a crucial achievement of Fox’s Verify Protocol. Melody Hildebrandt, Chief Technology Officer at Fox Corporation, said: “FOX and TIME are reliable brands that consumers trust, and we are excited to team up and transform Verify to a model that strengthens the relationship between producers and consumers and establishes the accompanying ecosystem.”
Future Developments in Blockchain Verification
Fox has indicated that they are planning to migrate the Verify protocol from the Polygon PoS network to an independent zero-knowledge (ZK) blockchain that is based on the development kit of Polygon’s Chain Development Kit (CDK). This movement founded by Gelato, a decentralized smart contract automation platform, is to execute the process of content verification which will make it safer and open-source.
In this way, the scientists’ dreams of creating the masterpiece of “Star Wars” will come true. With the advent of the ZK technology the realization of this hopes will become feasible and developers will be able to create projects that have the genuine provability.
Major Companies Start to Integrate Blockchain
When the trend of cryptocurrencies and blockchain technology adopted, it ushered in a new era of companies that were able to explore these technologies in their operations.
Microsoft is the first company to entice, assuring that all stores are Bitcoin-friendly. Aside from Microsoft, the company experimented with blockchain technology by pouring their money into it and using it to enhance their business operations.
There are also lofty automobile giants Ford and British oil and gas carrier Shell are interested in the blockchain technology that is a part of their asset management. Ford’s main goal is to track car parts using blockchain to improve logistics conditions and save money. Additionally, Shell’s ongoing blockchain study is aimed at energy trading, the technology that could not only aid in the process of operation but also make it far more transparent and thus reducing costs of transaction.
Sony, a Japanese industrial conglomerate having been committed to investing in blockchain applications for gaming and non-fungible tokens, has been
Despite these challenges, companies that adopt commissions could benefit by reducing the bureaucratic load. The regulatory environment for cryptocurrency is very flexible, as every country has a different case outlay of crypto assets.
