American multinational telecommunications conglomerate Verizon Communications has rolled out a new blockchain-based platform for press releases called 'Full Transparency.'
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The new open-source product developed to raise the bar for corporate accountability, Verizon said in an official press release. Verizon says that approximately 60% of consumers globally believe that the media is spreading fake news.
The idea behind Full Transparency is to change the way corporate newsrooms provide visibility to their readers, the company said. All press releases published on Verizon's blockchain will reportedly be secured using cryptographic algorithms.
Verizon's Chief Communications Officer Jim Gerace invited companies various scales across the globe "to adopt blockchain-verified communication practices."
"As a technology company that quite literally connects people to information, we are excited to bring Full Transparency to market—a product that, in its own quiet way, can help ensure corporate accountability and trust," he added.
In April 2019, AT&T allowed its clients to make online phone bill payments with the bitcoin (EXANTE: Bitcoin) cryptocurrency for the first time.
In order to process crypto payments, the second largest provider of mobile services and the largest provider of fixed telephone services in the US entered into a partnership with BitPay, a bitcoin payments provider.
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