Platform that fights against false news collects US $ 3 million, its weapon being decentralization

Platform that fights against false news collects US $ 3 million, its weapon being decentralization

In this age where information is crucial, being considered the most valuable asset, there is the problem of invalid information, disinformation or misunderstandings. Therefore, the Dirt team took the initiative to solve this problem with the technology that is changing the world, with Blockchain.

The Dirt Protocol team announced that it has raised US $ 3 million from numerous corporate and private sources to launch its research database.

When the founder Yin Wu, who had previously created two successful startups, became interested in the cryptocurrency space, but was intimidated by the mass of fear, uncertainty and doubt that circulates around offers of currencies and cryptographic exchange information.

Wu told TechCrunch: "Today's market is not yet regulated, with a high incentive for people to spread misinformation for personal gain."

The only solution to filter the trolls and huxsters that seemed viable when it began to disrupt the way social networking sites worked, such as Reddit, was to ensure that users had "some skin in the game", which it means a financial participation in the creation of positive publications.

The Dirt Protocol aims to be a toolbox for developers to create their own databases that can focus on specific issues. A single token will work across the platform and users will need to bet chips to create new posts, dispute someone else or vote when a dispute has occurred.

Wu believes that the incentives and economic sanctions will eliminate most of the bad information. On top of that, the more popular a database, the more expensive the interaction will be. As he said wu:

"The more valuable the network is, the more people contribute information, the more expensive it becomes to contribute".

TechCrunch noted that the pay-per-play aspect of the Blockchain platform may prevent trolls from abandoning their opinions just for fun, but it seems almost tailored to a concerted marketing or propaganda campaign with funds like the one that supposedly influenced the presidential campaign of 2016 in the United States.

Since the decentralized verification system puts the power to establish truthfulness in the hands of a majority that can afford to vote, an organized group could control a database.