Can blockchain technology help fight fake news?
Fighting fake news with blockchain: the new "Eventum" platform detects fake content in minutes
31.05.2018 – 16:55
LJUBLJANA, Slovenia, Jan.
The Slovenian start-up Eventum is tackling the problem of "fake news" by using its blockchain-based knowledge-of-the-mass platform to discover fake content within minutes.
In an age of information overload, "fake news" has become a real problem. Dissemination of unverified, or worse, wholly fabricated articles posted on social media, is being used as a weapon to affect entire populations, as seen most recently in the US presidential election and UK Brexit referendum.
Eventum (Eventum.network), a blockchain start-up company, has developed a technology to detect "fake news" in a fast, cheap and secure way by using the time-tested "wisdom of the masses", along with blockchain Technology is used.
The platform works by paying real people to review messages and uses a sophisticated algorithm to reward speed and accuracy. In tests conducted on its "Alpha Network", the Eventum platform was able to spot fake news stories in less than three minutes. Such technology could be used to reduce or even eliminate the spread of misinformation on social media and could become an essential weapon in the fight against fake news and propaganda.
Martin Milken, co-founder of Eventum explains:
"The Eventum network uses a combination of three elements: crowdsourcing with an incentive to earn money, a sophisticated algorithm and a blockchain, which enables us to detect fake news quickly and cheaply. Our technology could be used as a verification layer for existing news or fake news recognize before they are even published.
Detecting fake news is just one of the many uses of the Eventum network. The powerful platform can also be used to collect and verify almost any information, such as news events and sports data, and can perform face recognition and content moderation.
Eventum makes it easy for people to get paid for reporting real-time events and information around them, while developers can get all of the data they want in one cheap, fast, and secure feed. It uses the principle of "wisdom of the crowd" and "blockchain as a judicial system" on the Ethereum network to solve problems including fake news, data extraction for esports, and real-time feedback for AI algorithms. Eventum is based in Ljubljana, Slovenia, has a thirteen international team and has received € 5 million in funding to date. Visit http://www.eventum.network to learn more.
Original content by: Eventum, transmitted by news aktuell
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