French cloud software provider Wiztopic has announced a partnership with Euronext Corporate Services, a subsidiary of the Euronext stock exchange. Euronext will offer its clients the possibility of adopting the Wiztrust blockchain certification platform to fight against fake news for listed companies.
If an individual copies and manipulates a business ad, it could affect the company’s stock price. Wiztopic’s platform will certify corporate press releases on the blockchain, providing an additional layer of security and trust for investors and other parties.
Founded in 2014, the startup claims to have been the first blockchain platform to certify enterprise content. Currently, 20% of the information on the French stock market indices CAC 40 and SBF 120 is certified on the Wiztrust certification platform and disseminated via Wiztopic. Listed companies such as industry giants Axa, Allianz, Crédit Agricole, Natixis, Renault and L’Oréal also work with Wiztopic for information dissemination and certification services.
This type of certification usually involves creating a hash or fingerprint of the content stored on the blockchain. If the content is changed in any way, the hash will not match.
Besides the blockchain solution, the companies have also agreed to collaborate on the dissemination of news. Wiztopic’s investor and media rooms will be combined with the webcasting and investor CRM of Euronext Corporate Services.
“Communication has been one of our four main pillars since the creation of Euronext Corporate Services, and we are convinced that Wiztopic’s technology will support our sending clients in accelerating the digitization of their communication in a secure environment” a declared Mathieu Caron.
The spread of fake news is a social problem with consequences that go beyond fluctuations in stock prices. Fake news played an important role in the 2016 US elections as well as the 2018 Brazilian presidential elections. To tackle this problem in 2020, the Association Press (AP) news agency and blockchain company Everipedia collaborated to a project that allowed AP to broadcast US presidential election calls using blockchain, which verified whether the information was legitimate.
Other blockchain initiatives are emerging to tackle fake news across all sectors of the industry. Italian news agency ANSA has partnered with EY to develop a blockchain system to track news sources in light of the panic created by the spread of misleading information related to Covid-19. Last year, The New York Times announced a blockchain-based project to verify media sources and tackle disinformation in the industry, and a prototype has already been built.
Update: The title and story have been updated to clarify that this is a business partnership and that it is optional for Euronext companies to adopt the solution.