The Pumped Economy is finally putting the online news industry on solid footing. Unfortunately, the most valuable part of this industry is an endangered species now. Let us explain why the Pumped ecosystem is the answer to the question of survival:
Journalism is a pillar of modern democracies. Journalists are people who are trained to dig as deep as non-professionals can’t dig. They conduct professional research and try to reconstruct a comprehensible system from the individual parts obtained. While they are in competition with each other, the flow of their published stories keeps their readers busy and triggers ongoing discussions. The readers decide which approach they prefer on the basis of their own criteria which are linked to their confidence in the quality in certain publishers or journalists.
Journalism is a pillar of democracies. A shaking pillar endangers the stability of the whole house. When citizens don’t have easy and quick access to high value news, they find it difficult to make rational choices. This is the reason, why the non-functioning of high-quality journalism is a systemic risk.
In old times publishers thrived, because people bought newspapers and magazines and companies placed expensive advertisements. Journalists had a decent income.
The internet brought with it the fact that the music industry and the film industry, as well as journalism, increasingly moved to the internet. The extremely fluid character of constantly changing news may be the principal reason, why, in contrast to music and film streaming services, the internet led the news industry into the doldrums.
To satisfy the need for up-to-date information, today’s daily newspaper is no longer enough. People expect continuous information that can no longer be printed and distributed in a timely manner.
This information is like sand on the sea. It is mostly free, and no one can distinguish between what is well researched and what is not. The distinction between high-quality and superficial reporting has become a problem. Doubtful producers of fake news act as experts without having thoroughly researched beforehand. It’s like
inflation: Too much mass may threaten the system. High-quality journalism comes under pressure it doesn’t deserve.
The blockchain based Pumped technology reverses the trend by rewarding consumers of news content with MulTra Tokens (MTT) which give them cheap and even free access to highest value and normally chargeable news content. Then they decide freely whether they stay on board with a subscription or not. The conversion rate will make a decisive contribution to the economic stabilization of journalism on the internet.
Pumped is designed to be a problem solver, both friendly and powerful.
Article by Dr. Martin Bartels