Blockchain can stamp out fake news and rebuild trust in mass media

Fact-checking agencies are in charge of verifying facts and claims in the news that may be distorted in the process of rewriting or for any political purposes. The news text may consist of truthful information written in a neutral format peculiar to the news, but one sentence may contain a false fact or claim whose origin is unknown. In addition, the state itself has begun to produce false information, as was the case with former U.S. President Donald Trump’s famous Twitter account.

The main strength of fake news is the rapid speed with which it disseminates. While false information has always existed, the internet makes it worse every year. The high speed of fake news sharing has the potential to directly affect public relations and have serious political and economic consequences that are sometimes difficult to predict. This is not to mention that it has become difficult to trace the original source and at what iteration true news might have become false.

Why is it so difficult to fight fake news?

Public literacy can help in the fight against false information, as online news is often characterized by unverified facts and a lack of originality. Today, it is very easy to create a misleading message or article: You just need a digital platform for the first publication, then fake news is spread by users themselves, and their number increases exponentially.

Also, the publication of fake news often generates profits for the platform owners through embedded advertising, and they are in no hurry to give up this way of generating revenue. Another problem is the misinterpretation of the source of the news. For example, a city government issues an ordinance about new restrictions because of the COVID-19 pandemic, but the media can interpret this differently for the sake of traffic, clickbait and uniqueness. Any fact-checker will advise you in such a case to “always see the source.” In reality, there is no guarantee that the user will do so because the news flow is…

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