Web3 Foundation Announces Participants to Cogency Project

Summary:
• Web3 Foundation has announced the list of beneficiary organizations joining its Cogency project supported by WAN-IFRA. We tell you more.

Web3 Foundation has announced the list of partner organizations that will be working with the Web3 Foundation-funded pilot project, Cogency. The organizations include Publico, Condé Nast, Reuters, Global Corporate Venturing, Eidosmedia, Bright Sites, Mediahuis, The Evening Standard, Le Parisien and Les Echos. Cogency’s purpose is to investigate how Web3 technology may boost credibility and create new revenue opportunities for the media and content industries.

Coalition members are receiving funding from WAN-IFRA (the World Association of News Publishers). Their mission is to study how media organizations may function with and profit from Web3’s decentralized technology. The participating institutions are cooperating with one another, embracing the spirit of teamwork that is essential to decentralization.

Cogency and how Web3 Foundation and WAN-IFRA are supporting it

Publishers, technologists, and content creators from all over the world, from small-town dailies to major media outlets, are coming together under the umbrella of Cogency. Traditional organizations are studying how to form new organizational structures to take part in decentralized ecosystems in a way that is beneficial to all parties involved.

As the Web3 Foundation continues its research into protocols for the future generation of the internet, it announced in August that it was ready to lend its technical knowledge to the project. It is also supporting the development of Cogency’s research phase under the directorship of David Tomchak, a Visiting Policy Fellow at the Oxford Internet Institute.

Cogency lead David Tomchak said:

“We are delighted that we’ve been able to create such a stellar coalition for this project. It’s a diverse, international group that will be thrilling to work with. The brands represent an excellent cross-section of professionals who are interested in creating practical solutions using Polkadot and its associated decentralized technologies.”

Web3 Foundation has provided some of the funding through a scholarship program administered by WAN-IFRA. The study’s overarching goal is to foster mutual education and information-sharing between professionals in the media sector and proponents of Web3. The final plan will be up for review and provide a road map for the technical implementation.