I was watching an update video earlier where Charles Hoskinson (Cardano) talks about the idea of purchasing Coindesk. Apparently it is up for grabs if someone is prepared to cough up $200 million which is a tidy profit after acquiring the business in 2016 for $500K. He said the numbers have to be right and possibly he feels it is over valued for what it is.
Please watch the video as it is only 12 minutes, but is really interesting.
Watch the video here Coindesk- Charles Hoskinson
This is interesting more so on his reasoning for actually considering the purchase as he feels Crypto deserve better media coverage. We all know more often than not stories have another type of agenda and they are never in your best interest. He feels that stories are intended to manipulate the market in order to benefit a small group and is purely wrong. There is no real media one can trust and it is important to get a credible media site back again. This would not only benefit the entire crypto industry, but also this could branch out into other avenues like politics etc at a later date.
He is playing around with the idea of having a real media site with stories that actually have a veracity payment system. This would involve some type of deposit which would be lost if the story was found to be untrue.
Liability for false, misleading, or deceptive representations -- Bond or deposit to insure veracity of statements -- Maintenance of records.
How many journalists would pay a deposit standing by a story knowing if they are lying they would lose their deposit.
Another angle is to make each story an NFT which would be alive and allow readers to interact by adding more information through updates which could then allow stories to get grouped in similar topics.
The more I listen to Charles Hoskinson the more he comes across as the good guy who only wants all of Crypto to do well. Another tit bit he mentioned that we should have more media people who are close to crypto projects so whistleblowers would feel comfortable knowing who they are giving the information to. He feels things like FTX would have blown up far sooner if there was an open trusted channel available.
He mentions Hive briefly and how it works with it's tokenized community and feels this has only got to get bigger as if one could tie community driven content along with various other elements and incentives then this could work.
Then again Charles mentions that $200 million is a lot to fork out an one could develop something far bigger and better for a lot less that would be a major benefit to crypto. All types of news media have lost their way and building something from scratch may be the best way forward. This is what I think will ultimately happen so knowing Charles how long things take to develop this could be a few years before we see anything new.
