More companies are developing ways to use blockchain and cryptocurrency to stop fraud and protect consumer privacy. In a recent article, CNBC profiles a few of them.
Current Media co-founder and CEO Dan Novaes told CNBC his and other companies were spurred to use blockchain to protect privacy in the wake of recent data privacy controls.
Helping to drive this movement were the EU’s enactment of its General Data Protection Regulation and the fallout over Facebook’s connection with the political data service Cambridge Analytica during the 2016 U.S. presidential election.
Current Media partners with streaming media such as Apple Music and Spotify and with content creators to reward media makers and users with its CRNC token for viewing and making content.
Aside from Current Media, CNBC profiles other companies including Verasity, which uses blockchain to fight advertising fraud and spotlight so-called fake news. It also uses a cryptocurrency to reward viewers and content creators. Read more here.