Previously announced proposed acquisition, Pressland, releases new details for planned relaunch as blockchain-powered platform for fighting fake news
VANCOUVER, BC, CANADA (November 30, 2017) – 360 Blockchain Inc. ("360" or the "Company") (CSE: CODE – FWB: C5B – OTC: BKLLF) announces that its funding prospect, Pressland, has released more details about its planned revenue models. Pressland plans to relaunch in Q2 2018 as a blockchain-powered platform for fighting fake news and building greater transparency in the media.
“Pressland will operate as a reward economy built on our own cryptocurrency token,” said Jeff Koyen, 360’s Strategic Advisor. “Using this token, planned to be issued in Q2, 2018, we will incentivize Pressland community members to contribute intelligence, insights and other verifiable data about media outlets and media figures. This data will then power a suite of tools designed to debunk fake news on other platforms, such as Facebook."
Since the most recent U.S. presidential election, "fake news" has posed a serious threat to the credibility — and bottom lines — of social media platforms, such as Facebook, and has driven distrust in mainstream media outlets. Pressland will fight this threat by building a blockchain-powered platform for media transparency.
"By providing the public with trustworthy, decentralized intelligence, Pressland will offer a valuable service to media companies and social media platforms," said Jeff Koyen.
Proposed revenue sources include:
- Enterprise products that can be licensed to Facebook, Twitter and other social media platforms, giving them reliable turnkey solutions for debunking fake news and verifying news sources.
- Premium memberships and services for professionals working in the media, public relations and marketing.
- White-label solutions for platforms and media companies who prefer to maintain their own branding when offering Pressland's services to their members.
- Transaction fees for all payments made to Pressland's contributing workforce.
Additionally, assuming that the Company completes the investment, 360 Blockchain will hold a significant reserve of the proposed cryptocurrency tokens. No definitive documentation has yet been signed by the parties, and there is no certainty that such documentation will be signed.