The problems we identified
Journalism and content creation funding is in CRISIS. Without a free, unbiased and unconflicted press, extremism and populism continues to rise, society is heading towards a post-truth and post-fact era.
Social and tabloid incumbents have destroyed consumer trust. A new solution must return trust and accountability, it must admonish and remove fake, misleading and unverified news and it must be attributable.
Advertising earnings are disappearing thanks to a collapse of both print and digital revenue, accelerated by ad-blockers and social media data capture.
Established brands seem unable or unwilling to adapt to changing reader trends, digital innovations or user demands for privacy.
“In five years from now, if you don’t timestamp your articles on the blockchain, you’re going to be considered a fraud.”
How it works
Pay readers to consume content
As Readers simply consume content, ByWire™ rewards them with some Wirebit™ (WIRE). Named the Universal Basic Rewards or UBR, ByWire™ asks Readers, if they enjoyed or appreciated content, to tip some, all or even more WIRE to the Creator and/or Publisher.
Transform Pay-Per-Click advertising
Publishers can top up their ByWire™ provided UBR by purchasing Wirebit™ tokens and applying them to their content
News stored on the blockchain, decentralised and trustless
All content will be decentralised, stored on the IPFS with revisions and hashes stored on the EOS mainnet.
Less fake news
Fake news and those who purvey it will be quickly identified by a unique and multi-thread process including algorithms, token incentives, community validation and Reader gamification.
Personalised, but private
AI/ML will be used to personalise each Readers experience, with habits hidden from ByWire™ to ensure privacy, alternatively Readers can opt for a curated experience.
Wordpress and cloud enterprise solutions
Publishers can post content directly to ByWire™, but many will want to control their own websites, therefore they may opt for the hosted cloud solution or the free/premium WordPress plugins, which are coming soon.
ByWire is decentralised
ByWire™ will take the best parts of democratic decentralisation, retaining some operational centralisation to dynamically and quickly innovate, to seize moments of opportunity and to avoid stagnation and over complication.
ByWire™ will secure a dominant market share, deliver corporate responsibility with decentralised democratic oversight, focusing on returning profitability and trust to news media.