n 2017, “fake news” was named by the Collins dictionary publisher as word of the year. The arrival and prolific growth of social media mean circulating fake news stories is easier than ever. Could blockchain technology be the answer to tackle the fake news epidemic?
In what is a radical plan to reduce disinformation circulating the internet it would involve the utilization of blockchain technology to unlock vital trade routes.
Blockchain technology will be used by the cryptocurrency entrepreneur Eleesa Dadiani’s special-purpose company, Dadiani Syndicate, in an attempt to stamp out the modern disinformation epidemic.
Ethical technology for the future
Talking to the Express newspaper, cryptocurrency and cross-border trade entrepreneur Eleesa Dadiani, spoke of how misinformation spreads across the World Wide Web.
“Anywhere you turn on your phone, or watch TV, you see this misinformation – fake news – this need to keep the truth away from people. And there is a very sophisticated system in place that prevents the truth from reaching people, so when you go on Google and you search for something, the first few pages are there because they have high SEO or pay per click rankings – everything is just about whoever paid more to get to the top of these listings.”
Dadiani is hoping to crowdfund the Bubblr app via the cryptocurrency money source for startups, an initial coin offering (ICO). Hailed as “ethical technology for the future,” Bubblr is an anonymous, ad-free and cost-free app, which delivers news from only reputable suppliers, so there is no fake news or plagiarism.
Fake news and the crypto industry
Fake news is proving a problematic blight to the cryptocurrency industry with the spread of misinformation creating havoc to crypto investors.
For example, last month it was confirmed that the Kodak Bitcoin mining rig was fake, with a spokesperson for Kodak stating that the mining rig was by no means affiliated with Kodakcoin.
If blockchain technology can be used to tackle the fake news epidemic, crypto investors will be able to invest in digital currencies with greater confidence. Online news consumers will also be able to digest the news that is neither fake nor plagiarized.
Gabrielle Pickard-Whitehead is a freelance journalist and copywriter based in the Peak District, UK. Since 2006, Gabrielle has followed her passion for writing and has sculptured a rewarding career out of her love for the written word. Gabrielle thrives on creating compelling content related to current affairs, politics, financial news and the latest advancements in technology and innovation. Gabrielle is excited about having the chance to write about the constantly-evolving world of crytocurrency and enabling people to learn more about this rapidly-advancing digital asset.