CoinGeek Backstage: Rachel Wolfson discusses media’s influence on digital asset market space

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Media is an essential part of our daily lives and has a massive influence on society. It allows us to be aware of the reality, and most importantly, it brings knowledge to varying topics, one of which is Bitcoin technology.

Day 2 of the CoinGeek New York Conference saw a panel of media luminaries talk about the media’s influence on how news reporting affects the digital asset market. One of the panelists was Rachel Wolfson, a Cointelegraph reporter, public speaker, and analyst. Wolfson later joined CoinGeek Backstage reporter Stephanie Tower to discuss her experience attending the conference for the first time, her journey into the digital asset space, and her opinions regarding the mainstream media’s coverage of the space.

Wolfson started by commending the fact that several companies in the conference are using the BSV blockchain for enterprise. “I’m focused on the enterprise space, and I’ve just been so impressed to see so many companies here at the conference using the BSV blockchain for enterprise use. So for me, it’s been so educational. It’s been a learning experience, and it’s just been wonderful,” she said.

The digital asset sector is not a new industry for Wolfson who has been covering the blockchain and digital currency space since 2017. She started by writing an article for the Huffington Post on how blockchain technology is used for the supply chain management. Now, Wolfson said she is focused on enterprise blockchain and is writing a book about it.

“It’s been a long journey. I’ve been covering the blockchain space since 2017. I’ve always been focused on blockchain as a technology, so in 2017 I wrote an article for Huffington Post on blockchain being used for supply chain management. Ever since then, I got sucked in it. Went down the rabbit hole, and I’ve been covering the enterprise space ever since,” she explained. “I don’t really focus so much on the markets or breaking news stories, but like I said, my focus is enterprise, and there’s so much innovation being done here with the BSV blockchain.”

Wolfson has seen many changes in the blockchain and digital currency sector during her four years of covering the industry. She’s been through the ICO boom and, now, the NFT craze.

“[The NFT craze is] kind of reminding me a little bit of the ICO craze, but I do think NFTs are here to stay. Like I said on the panel, I’m getting a ton of press releases, but there are some NFT projects out there that are cool, and I do believe that they’re going to make a big difference in this space,” she stated.

Tower continued by asking Wolfson’s opinion on how the mainstream media should cover the industry. Wolfson replied that she believes mainstream and popular media networks like CNBC often repeat the story based on the press releases they receive. She also thinks that digital currency publications do a better job disseminating news concerning the sector, saying:

“I never really read the mainstream media news when it comes to crypto and blockchain. I mean, occasionally, I’ll read CNBC, but I think that the crypto publications do the best when it comes to the coverage… I think [the mainstream media are] getting the press releases and kind of regurgitating that. And they’re like: ‘We look cool because we’re writing about Bitcoin and crypto and blockchain,’ but at the end of the day, it’s the outlets that are really getting those original comments.”

How should the mainstream media improve in educating themselves and their readers about Bitcoin and blockchain? The best solution for Wolfson is to find writers who are knowledgeable about the industry.

“You need someone who’s been in the industry for a while and who understands the technology. That’s what’s going to make the difference here,” she said.

Before wrapping up the interview, Wolfson shared one particular piece of information that struck her the most about the conference.

“What struck me the most here was, like I said, the enterprise use cases with the BSV blockchain. I was very unaware of that. Now I’m so excited that I have that knowledge because when I write my articles, I can reach out to one of the companies I’ve met here. It’s not all about Ethereum when it comes to enterprise. There are other blockchains out there capable of handling these enterprise transactions. I think that’s been the most impactful thing for me here at this conference,” she said. 

Watch: CoinGeek New York panel, Media Influence: How News Reporting Affects the Digital Asset Market