2020 has been a year when trust in the news has fallen to new depths. Fake news is everywhere, and people find it difficult to know if anything they read is true, who has produced what and is their reporting based upon an agenda. Bywire News offers an innovative solution designed to restore trust and accountability to the reporting of — daily news.
Bywire is the first news organisation to publish and archive its content directly on the blockchain. This immutable, secure, and transparent distributed ledger technology has the potential to transform trust in news media forever. Its security and transparency mean it can provide a platform for unbiased news sources which are timestamped, verified and most importantly: accountable.
All content is decentralised, stored on the InterPlanetary File System (IPFS), with revisions and hashes stored on the EOS Public Blockchain. All content is therefore copyrighted to its original creator.
This is the future of news as Brendan Blumer CEO of Block.one who created the EOSIO blockchain software stated in 2017: “In five years from now, if journalists don’t timestamp their articles on the blockchain, they’re going to be considered a fraud.”
Bywire’s revolutionary model transforms the way daily news media websites work by putting readers first. Readers are rewarded when they consume content with the unique Wirebit crypto token (WIRE). This token is spent by publishers wishing to make use of the Bywire Blockchain News Network services, creating a simple pull and push economic model. Bywire will use its universal basic rewards system to ask readers to reward Wirebits to the creator and/or the publisher of content they feel has value.
“If you’re looking for daily news which is unbiased, the landscape seems daunting. Daily news platforms are too often controlled by corporate or political agendas, independent news is the future,” said Michael O’Sullivan, CEO of Bywire News.
“We’re on a mission to provide truthful, decentralised and independent news which gets right to the heart of the story.”
Bywire has trialled its model throughout a tumultuous 2020. Its success has seen it branch out into other sectors offering dedicated channels reporting on the legal sector, technology, and politics.
Bywire will also be one of the first places you will find out about new technological trends which could transform the way we live, including the rise of the EOSIO blockchain, the arrival of the new social media platform Voice.com, AI, machine learning, cryptocurrencies and much, much more.
The recently launched Within the Law reporter covers in depth news from leading law firms such as Baker McKenzie, Hogan Lovells and DLA Piper and major cases from regulators including the Serious Fraud Office (SFO), Financial Conduct Authority (FCA) and the Solicitors Regulatory Authority (SRA).
You can learn more about groups such as the SFO and read specific SFO news stories and learn more about the SRA and FCA. Bywire is producing not just news, but also informative fact-based information banks, freely available to all.
Bywire is seeking new freelance journalists and writers across all disciplines to expand its content offering. If you would like to get involved, contact Bywire via the contact details below.
Release ID: 88994488