The Associated Press Signs Partnership With Blockchain Company Civil
Civil Media Company, this week, announced a two-part deal with media and journalism giant, The Associated Press. Civil is a startup that is working to support a network of high-quality news outlets through the sale of virtual currencies.
The Associated Press Signs Partnership with Civil
With the deal, AP will be licensing its content to newsrooms in the Civil network. This is similar to what the company does with other news outlets. Moreover, both companies will be working on a blockchain-based technology. This platform or system would allow the companies to track the flow of their content and enforce licensing rights.
With this partnership, Civil would have access to AP’s experience in licensing, business practices, and product design. In a very competitive market, AP would have access to potential new customers. This would be achieved through Civil’s network and blockchain technology.
AP would also receive Civil tokens. The blockchain startup will be issuing these tokens to form a self-governing system. Civil wants to promote an ethical and high-quality journalism.
Civil was founded by the blockchain company Consensys with $5 million dollars. Consensys helps companies in the space build on top of the Ethereum blockchain.
Matthew Iles, Civil’s founder, and CEO says blockchain technology can make it easier for publishers to license their content. Furthermore, it would be easier to track down their content if it is used without permission.
About it he mentioned:
“People who are creating content aren’t in control of it in any way. What this all boils up to is content creators to be able to get credit for work wherever it’s published and more efficiently track the chain of value and ensure people are getting name credit and compensation.”
Jim Kennedy, SVP of strategy and enterprise development at AP said that the company cannot track the content it uploads to the web.
“When you’re licensing content to a legacy media company, you can pretty well rack it,” he says. “But on the internet, it’s never been easy. When we do contracts with people, we establish their rights to use it, and they’re generally followed. But when it’s published, it’s freely available for people to scrape and cut and paste.”
The Associated Press is considered to be one of the pre-eminent companies in American journalism; so the deal is a big one for Civil and its network legitimacy.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.