Fake News, As Trump Puts It, Will Be Brought to Light by Blockchain Network

  • Yuri Molchan
    📰 News

    A Blockchain startup plans to spread real data and filter lies and hyperbole


Fake News, As Trump Puts It, Will Be Brought to Light by Blockchain Network

The platform’s founders describe Civil as a decentralized marketplace for true journalism. They have set themselves a clear purpose to use Blockchain in journalism so as to make it credible and punish those who violate its code of ethics.

This project has brought up a wide interest by receiving a grant of €1.7 mln allocated by the European Journalism Center and another $5 mln given by the ConsenSys VC company, set up by an Ethereum co-founder.

Civil intends to sell its CVL tokens via a small ICO later in 2018. Over 100 journalists from over a dozen different organizations are involved in contributing materials which vary from cannabis industry to US internal policy.

So far the participants of the platform have received $1 mln in grants.

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The new journalism concept

The concept is based on the vetting system that will check the validity of journalists’ reports. 
The startup wants to leave the free of charge model used by most mobile and online applications and instead introduce the scheme based on the CVL tokens.

Authors and contributors will be paid in them, readers will have to buy content with these coins as well. The publishers will be vetted through the token-curated registry that is becoming popular these days in Blockchain communities.

Basically, all participants, readers, publishers and contributors, will have to give up their CVL tokens (or get paid in them).

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There’s nothing new under the sun

It is worth mentioning, perhaps, that Civil is not the first company which is trying to set journalism right and protect readers from fake news. In 2017 the startup called PUBLIQ made an ICO in order to publish unique and original news and fight fake ones.

Also in 2017, there was a Decentralized News Network (DNN) that aimed at delivering factual information to readers that would be first verified and then published.

As we can see Blockchain is indeed getting not only into fintech area but is also making its way into journalism.

Even if such projects will not live up to their goals, their attempts deserve to be watched. You never know what they may achieve in the end.

Cover image via u.today
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