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Fintech company Konstellation joins media blockchain consortium PUBLISHalliance

Image: (L) Sonny Kwon, CEO of PUBLISH; (R) Sang Lee, CEO of Konstellation

Fri, 16 Aug 2019, 23:34 pm UTC

PUBLISH Inc., a provider of blockchain solutions for media businesses, has signed a memorandum of understanding (MOU) with Konstellation, a provider of blockchain solutions for the financial services industry.

Konstellation is a new company that was formed under DarcMatter, a U.S.-based alternative investment platform, to create a blockchain infrastructure for all the financial services.

In an online post dated August 16, Konstellation noted the recent surge of fake news and information and emphasized on the importance of “trusted data” for making investments.

“This is why we believe we need an infrastructure to provide and certify news releases. This is one of the most important foundations we wanted to add to our network, to be able to certify every news item we have,” it added.

Konstellation said that it basically wants to provide its network with access to certified news “as quickly as they occur.” Towards this goal, it has now entered into a strategic partnership with PUBLISH, the company behind PUBLISHprotocol – an EOS blockchain-based media protocol and platform that aims to incentivize global cooperation of readers, writers, and editors to join publishers in proliferating good journalism.

As part of this partnership, Konstellation has joined PUBLISHalliance – a media blockchain consortium that aims to secure the editorial and financial independence of newspaper businesses using blockchain technology. The alliance is tasked with the development and proliferation of PUBLISHprotocol.

The consortium comprises of media, technology start-ups, and academic institutions. More than 40 media and corporations have joined so far, attracting over 1 billion views per month.

“Investing requires faster and more accurate information and news, and this collaboration with Konstellation will enable Alliance members and subscribers to be informed of new investment information and insights that will be available in the future,” Sonny Kwon, CEO of PUBLISHprotocol said.

In the future, Konstellation’s members will not only be able to access this news, but also participate in publishing the work and obtain rewards for their participation in the network.

DARC and DARCwallet

DARC is the utility token that powers the Konstellation Network – a hybrid public/private blockchain which will allow for the creation of digital assets and the seamless and global blockchain-enabled trusted interaction with critical counterparties. The network will serve as the backbone upon which financial institutions can interact with each other in a transparent, secure and, most importantly, compliant manner.

Last month, Konstellation announced the public release of the DARCwallet – the first interface that participants in the Konstellation Network ecosystem can use to interact with DARC tokens.

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