Chapter
The Future of Journalism and Crypto Oracles
44:59 - 50:56 (05:56)
The concept of crypto oracles entails the use of microeconomic incentives to reward trustworthy journalists or media companies for providing accurate and truthful data stored on digital chains. The vision is to use cryptography to displace corporate media corporations as the source of truth in the future world of digital assets, contracts, and news reporting.
Clips
The use of cryptography can displace media corporations as the source of truth, as it provides cryptographically verifiable facts about the world.
44:59 - 46:36 (01:37)
Summary
The use of cryptography can displace media corporations as the source of truth, as it provides cryptographically verifiable facts about the world. This is a powerful tool in gaining the intellectual history of the last decade.
ChapterThe Future of Journalism and Crypto Oracles
Episode#178 with Balaji - Balaji on How to Fix the Media, Cloud Communities & Crypto
PodcastMy First Million
Media companies can redefine themselves as crypto oracles, writing data on a blockchain that can be used for prediction markets and stock markets.
46:36 - 49:27 (02:50)
Summary
Media companies can redefine themselves as crypto oracles, writing data on a blockchain that can be used for prediction markets and stock markets. The accuracy of the information can be incentivized and rewarded, leading to a shift in the power dynamic between technology and media.
ChapterThe Future of Journalism and Crypto Oracles
Episode#178 with Balaji - Balaji on How to Fix the Media, Cloud Communities & Crypto
PodcastMy First Million
Through the use of blockchain technology, editorial judgment is now quantifiable and visible in the selection function of which specific facts are cited and included in a story.
49:27 - 50:56 (01:28)
Summary
Through the use of blockchain technology, editorial judgment is now quantifiable and visible in the selection function of which specific facts are cited and included in a story. This creates a tangible narrative and a ranking algorithm for social media sites.