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Snip Creates a Decentralized News Platform on the Blockchain

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Snip Creates a Decentralized News Platform on the Blockchain

For most of the human history, news has been the lot of centralized companies, and, in some instances, governments. By the 20th century, most newspapers, and later radio and TV channels, have lost their independence and joined massive corporations that could dictate whatever agenda they found necessary.

This did not change much even when most news channels have moved online, and they still represent the point of view of companies or governments that own them. This makes the entire picture of the world biased, and moves ordinary people away from understanding what is really going on.

This extent of centralization in the news industry has justified the growing demand for an alternative solution. This trend emerged much earlier than this option became actually viable.

As a truly decentralized entity, the blockchain could theoretically empower independent news outlets that would present any point of view regarding any kind of event. Still, in most cases the involvement of blockchain technology in media has not gone any farther than a number of social networks.

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Snip, a decentralized news platform, seeks to change this situation by enabling any user to create a brief news article they call ‘snip.’ This article, however, should contain some references that prove it is not fake. Other users can vote for this piece of text with local tokens, SnipCoins. The entire infrastructure of the platform uses blockchain technology to ensure automation of all processes.

This is set to remove the element of centralization from the way any media outlet operates. In traditional media, there is an editorial board, the owner, and a constellation of actors that may exercise some influence on a news outlet.

In a decentralized environment, blockchain technology reassigns the duties of an editorial board to the community, while owners and influencers are virtually non-existent.

It opens the gate to a censorship-free world, where no one can withhold information from the society. While Snip seems to be the only platform that presently offers such an option, it seems only a matter of time when some competitors show up.

All those elements could be the bricks that build the solid structure of the future of media, and finally make the true freedom of speech a reality.

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