(ETX Studio) – Cryptocurrency exchange Coinbase wants to become, in its words, a « source of truth » arguing that journalists are « bullies filled with conflicts of interest. » For her, every tech company should speak directly to its audience and become a media company.
The interest in cryptocurrency is growing every day. From then on, it becomes difficult to unravel the truth from the false in an economy that is still largely unknown. Truth be told, even the investment « experts » of the cryptoeconomy sometimes seem overwhelmed. For Coinbase, the growth of false information published in newspapers or on networks is a growing and dangerous phenomenon. If the intentions are not always negative, the fact remains that everyone seems to have his opinion and does not hesitate to share it disregarding the impact that a false information can have.
It is behind these rather noble intentions that Coinbase wishes to create its own media branch. In its blog, it presents three choices: let it happen, fight it or « publish the truth ». For its CEO Brian Armstrong, there is a middle ground, that of establishing a direct relationship with the public by publishing the « truth ». The American company will not hesitate to offer a « fact check » to show its transparency, even if it means sharing the negative facts about its own company.
To take his point further, Brian Armstrong wants every company to become a media company in response to the proliferation of fake news. Coinbase then decides to launch a section in its blog called « Fact Checking » to fight against misinformation about Coinbase, but also more broadly about cryptocurrencies. In the future Coinbase also wants to create its own original content and not just stay in the verification of information.
But the feedback isn’t always positive, as Coinbase is mostly acting around a new trend in the US. The creation of content by technology brands is growing at a high speed by creating their own communication channels. They aim to drive investment and create stories around their brand. To do this, many companies are hiring content editors and writers to create these stories.
Reactions are rather mixed. While some appreciate the project, others fear that it will lead to an information battle where answers will never be obtained or at least never 100% certifiable. In the cryptocurrency world where every influencer wants to see their wallets padded above all else, it’s still hard to trust, even more so in a company whose core business is cryptocurrency exchange and investment.