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Referendum#134
Discussion#1861

Proposal: Building a better understanding of blockchain across mainstream global media

user005f0df0abcc4d638c933e2cc
2 years ago
treasury
education

Link to full proposal: (PDF)

Link to Budget: (GDocs)

Requested DOT: 40,035.34 DOT ($206,182 @ $5.15/DOT)

Proposal context

The beneficiary and implementer of this proposal is the Thomson Reuters Foundation (TRF). Every.org are the proposer, supporting TRF to exchange any DOT granted to US dollars in order to fund the pilot training programme that aims to “Build a better understanding of blockchain across mainstream global media”.

TRF is an independent charity, registered in the UK and the USA (as TRF INC). We work to advance media freedom, foster more inclusive economies, and promote human rights. Through news, media development, free legal assistance and convening initiatives, we combine our unique services to drive systemic change. We use the combined power of journalism and the law to build global awareness of critical issues faced by humanity, inspire collective leadership, and help shape a prosperous world where no one is left behind. We believe that societies around the world should be free, fair and informed.

Following an introductory meeting and Web3 Foundation relationship scoping workshop in Zug (27th July 2022), TRF are proposing a strategic partnership, which will aim to build a more accurate and deeper understanding of Web3 and blockchain technologies across audiences who are not familiar with it and who are exposed to more traditional narratives (e.g. cryptocurrencies facilitate illegal activities and pollute the environment). The aim of the partnership is to educate non-crypto audiences and journalists on a global scale to better understand the fast-evolving blockchain ecosystem (For example, the downfall of FTX, a news story that went mainstream, involving politicians and celebrities. Many journalists struggled to report on this incident accurately, due to their limited knowledge of the crypto ecosystem and one of its largest exchanges.) and its potential applications beyond decentralised finance (DeFi).

TRF proposes to launch the partnership with a pilot programme to scope, develop and test a new training programme that responds to this aim. The pilot will be delivered iteratively in collaboration with the Web3 Foundation to achieve a robust and needs-driven training methodology that can be effectively scaled in anticipated future phases of the partnership.

Comments (11)

2 years ago

"Following an introductory meeting and...workshop" that took place 365 days ago? What has been going on since then? Why post this now? It is an interesting idea, can you better outline the direct value add to DOT holders?

2 years ago

Thanks for the questions, @YungBeef! Responding to each question individually below:

Following an introductory meeting and...workshop" that took place 365 days ago? What has been going on since then? Why post this now?

Following the introductory meeting and workshop in July 2022, TRF spent the following 3/4 months working up our training proposition “Building a better understanding of blockchain across mainstream global media” and presented this back to the Web3 Foundation Education Leads and Directors.

Initially it had been anticipated that the Web3 Foundation would grant directly to TRF in US Dollar. However, after further consideration it was decided that a fairer and more strategic way of moving this project forward would be to let the Polkadot Community decide.

This decision was welcomed by TRF, but like many UK/US based charities our finance processes are not currently set up to except crypto currency/DOT funding directly. We knew there would be a delay whilst we embarked on finding workable solutions. It was during this process that we contacted our partners, Every.org, who are a leading organisation that specialize in supporting charities to accept and convert cryptocurrency donations.

The project was then further held back, by the voting and governance changes that have recently taken place, with the introduction of OpenGov. However, we are now in a strong position to be able to proceed and are looking forward to receiving feedback from the community.

It is an interesting idea, can you better outline the direct value add to DOT holders?

If mainstream global media developed a better understanding of blockchain, it could bring several value additions for cryptocurrency/DOT investors and the crypto space as a whole:

  • Improved Reporting: A better understanding of blockchain technology (including more awareness of top-20 cryptos beyond BTC and ETH like DOT) would lead to more accurate and insightful reporting on cryptocurrency-related news. Journalists would be able to explain complex concepts, potential use cases, and challenges more effectively. This would reduce misinformation and sensationalism, leading to a more informed investor community.
  • Enhanced Awareness: Mainstream media has a broad reach, and with a better understanding of blockchain, they could raise awareness about cryptocurrencies and their underlying technology. This could attract more investors, potentially leading to increased adoption and investment in the crypto market.
  • Increased Credibility: As media outlets develop a deeper understanding of blockchain and cryptocurrencies, their reporting would gain credibility. This would create a more trustworthy environment for investors, encouraging them to take the industry more seriously.
  • Informed Investor Decisions: Investors heavily rely on media sources for information before making investment decisions. If the media provides accurate and comprehensive coverage of the crypto market, investors can make more informed choices, reducing the likelihood of falling victim to scams or making ill-informed investments.
  • Positive Regulatory Impact: Misunderstandings about cryptocurrencies in the media have sometimes led to negative regulatory reactions. A better-informed media could facilitate more constructive discussions around regulation, potentially leading to balanced and effective policies that foster innovation while protecting investors.
  • Reduced FUD (Fear, Uncertainty, Doubt): The cryptocurrency market is often susceptible to FUD due to misleading or exaggerated news. Media outlets with a better understanding of blockchain could help mitigate this issue by presenting well-researched and accurate information.
  • Promoting Innovation: With better coverage and understanding of blockchain technology, media outlets can spotlight innovative projects and developments in the crypto space. This exposure could attract more attention and investment into projects that have real potential, leading to further advancements in the industry.
  • Facilitating Mainstream Adoption: Mainstream media plays a significant role in influencing public opinion. By developing a better understanding of blockchain and cryptocurrencies, media outlets can play a pivotal role in demystifying the technology and promoting mainstream adoption.

Overall, a better-informed media would contribute to a healthier and more mature cryptocurrency ecosystem, benefiting both investors and the industry as a whole. Any further queries, just let us know!

DV Badge
2 years ago

Please consider verifying the provided identity.

A lack of a verified ID, makes it difficult for all proposals to prove on-chain and to people without first hand knowledge of the team, whether or not they are legitimate. Also, it perpetuates the risk of unknown malicious actors pretending to be other characters with a better reputation in future referendums.

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