On 7 February, 2024
The speed with which information is shared makes verification difficult. Blockchain technology must be harnessed to build an ecosystem of trust and with it,the credibility of corporate communications will not be called into question.
Faced with the wave of infoxes and fake news, the authenticity of information shared on social networks and by certain media is being called into question. Journalists are having to be doubly careful about the origin of their sources. As a result, television programmes are springing up that aim to disentangle the true from the false. France 2 is broadcasting a new programme called "Fakes and false use", while Arte is launching "Désintox" in partnership with Libération... Blockchain technology makes it possible to build an environment of trust where communication is not called into question.
This reliability issue is even higher for corporate communication, according to infoxes, they are threatened by risks of identity theft or misappropriation of image. On 22 November 2016, Vinci suffered a flash crash, with its share price falling by more than 18% as a result of a false press release. Then on 16 January 2019, one of the key men on Wall Street was the victim of a hoax: his annual letter, so eagerly awaited by thousands of financial professionals, was preceded by a fake. Even the world's most credible financial media outlet, the Financial Times, was fooled by these activist hackers.
Read how to protect yourself against fake news
Certifying corporate information
A certification technology has emerged in recent years. This is blockchain, a secure information storage and transmission technology that operates without a central control body. Each block contains a reference to the one that precedes it and data on the transactions it records. Once created, they are unalterable. All the parties involved can be sure of the validity of the data recorded. The aim: to establish trust between each party in the chain.
For example, when a company announces its results in a press release, publishes its annual report or makes official figures available on its website, the challenge is to ensure the authenticity of the document for the recipients of this information (journalists, analysts or investors). As a result, the proliferation of channels through which information is distributed increases the risk of errors or identity theft by hackers.
This technology can provide a bulwark against the waves of disinformation that undermine the credibility of companies' communications and damage their visibility and brand image.
Ensuring the traceability of information on blockchain
Businesses must now take an interest in blockchain to certify the authenticity of the information they distribute. Communicated to their recipients, be they journalists, analysts, investors or even the general public. Blockchain is transforming the way companies communicate. As with any innovation, there will be some collateral effects. Some companies are going to rethink the way they operate internally. But this is an opportunity that companies should not miss.
Wiztrust utilizes blockchain which ensures that once information is added to the chain, it cannot be altered retroactively without changing all subsequent blocks. This makes the information tamper-resistant and provides a transparent and verifiable record.
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Certification of Information: Wiztrust is primarily used to certify the authenticity of information and documents published by companies. This can include financial reports, press releases, and other important documents. By leveraging blockchain, Wiztrust aims to guarantee the integrity and origin of the information, reducing the risk of misinformation and fake news.
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Verification Process: When a company publishes information using Wiztrust, the platform generates a cryptographic signature and records it on the blockchain. This signature serves as a unique identifier for the information, and its presence on the blockchain ensures that the data has not been altered since its certification.
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Transparency and Trust: Blockchain certification provides a transparent and auditable trail of the information's history. This transparency helps build trust among stakeholders, such as investors, regulators, and the general public, as they can independently verify the authenticity of the information through the blockchain.
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Combating Fake News: The use of Wiztrust is particularly relevant in the financial industry, where accurate and reliable information is crucial. By certifying information on the blockchain, Wiztrust aims to prevent the spread of fake news and misinformation that can impact financial markets and investor confidence.
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