The Decentralized News Network (DNN) has set a goal to produce news “by the people for the people” thanks to the blockchain technology. “DNN enable
The Decentralized News Network (DNN) has set a goal to produce news “by the people for the people” thanks to the blockchain technology.
“DNN enables a form of incentivized collaboration that wouldn’t otherwise even be possible if we weren’t on the blockchain.”, commented Singh, the company’s chief executive officer and a graduate of Penn State’s finance program.
“The blockchain enables everyone involved to earn a piece of the pie, assuming they put forth their share of effort.”, he elaborated.
DNN is actually a citizen-journalism platform that is funded by selling the DNN tokens that will trade on digital token exchanges around the world.
“Anyone can be a writer, anyone can be a reviewer and anyone can be a reader.”, as Singh pointed out.
However, how does the platform work? Firstly, the writer pens a story and submits it to the DNN network for accuracy check. There, the story is being checked by seven randomly selected reviewers. The latter follow the DNN`s editorial guidelines and suggest changes to the writer. If the article is approved, the author receives DNN tokens. Same goes for the reviewers who approved the story with a majority of other reviewers.
While some remain skeptical of the truthfulness and objectivity of such media outlets, other argue that decentralized networks could actually provide well-written factual news.
“There really is no big overseer in this whole process.”, as Singh said. “DNN is run from a grass-roots level.” A demonstration version of their software will reportedly be available for review in May.