In the press
[LBank Connect Web 3.0] "Digital news must welcome Web3 with adoption of blockchain-based rewards", says PUBLISH CEO
5 June 2023
PUBLISH is pleased to announce that its CEO, Sonny Kwon, was invited to deliver a keynote speech at the "2023 LBank Connect Web 3.0 Seoul" event. The purpose of the event was to discuss the use of emerging technologies such as artifical intelligence and big data in digital news. In his speech, Kwon highlighted the importance of establishing a healthy Web 3.0 ecosystem that leverages blockchain technology, reward systems, and trust-based platforms.
Kwon expressed concerns about the current state of digital news, stating, "The digital news industry is plagued by problems including rampant misinformation, a disregard for journalistic principles, and an absence of rewards when users hand over their personal information."
Kwon believes these challenges can be mitigated through initiatives like the read-and-earn solutions, which incentivize users to click through to the publisher's website. "By adopting a journalism-centric article production structure, we can simplify distribution structures and improve advertising efficiency," he contended.
According to Kwon, the answer lies not in abandoning existing systems but innovating within these frameworks. By maintaining existing methods and combining them with revolutionary technology, PUBLISH aims to implement a blockchain-based Web 3.0 system.
Through a partnership with 71 media outlets, PUBLISH provides NEWS tokens as rewards to users who read articles. Their platform also supports sponsorship, allowing consumers to directly reward journalists.
Sonny Kwon outlined the ambitions of PUBLISH, stating, "We aim to have 1.5 million users and 500 media partners by the end of the year. Our long-term goal is for all media outlets to tokenize the content and images they produce as NFTs, encouraging readers to directly visit news media sites, earn rewards, and engage more actively."