Forbes Magazine, one of the largest major media organizations in the world, may soon begin publishing its content on a blockchain.
The American magazine began life back in 1917 when financial columnist B.C Forbes joined forces with Magazine of Wall Street manager Walter Drey. Now, over 100 years later, the magazine is making history as the first major media publication to adopt blockchain technology.
Forbes Media, LLC, has partnered with blockchain-based news network Civil to facilitate the new development. Initially, Forbes will work with Civil to archive all of its existing content onto a blockchain in order to preserve it indefinitely. It will then look into options for publishing directly to the blockchain and investigate benefits that such a system has to offer, such as increased trust and additional revenue streams.
In a blog post announcing the partnership, Civil co-founder Matt Coolidge said:
“We’re pleased to announce a significant, new partner today — and one of the biggest endorsements yet for blockchain technology’s transformative potential for the media industry.”
Benefits of Blockchain Publishing
The project will go into effect from the beginning of next year when Forbes will begin testing the publication of certain articles to the blockchain. If the trial is successful Forbes may then begin moving all its content on to the network and investigate using smart contracts to assist the way contributors deliver articles.
Through the integration of Civil’s blockchain publication tools in the Forbes content management system, the magazine will benefit from increased content control, proven ownership and an immutable archive.
Forbes Magazine has always been a positive proponent of emerging financial technologies and with this new development, continues its legacy as one of the forerunners of the American media industry. Earlier this year, the magazine published an article detailing innovations in publishing from the early 1400’s to the present day.