Attaching fake news, intended to manipulate the masses, to an authentic source has recently soared into the mainstream media. This technique is utilized majorly by “pump and dump” schemes who attach a piece of false information to an authentic source. Scammers are as well utilizing this trend to lure the masses to their wicked schemes.
A recent development within the blockchain technology is yet to be launched after tests. From the research that has been undergoing within the University of Arkansas, they have developed a fact-finding website which utilizes an AI algorithm to authenticate news stories. This was fueled by the false news that ANSA suffered especially those concerning the coronavirus.
The ANSA check works simply by assigning a unique ID to the given news headline, therefore, any impostor story created can be easily detected by an alteration of even a single word. From the deployment in a smart contract, the price volatility that had been inherent within Ether had been bridged out through the delay of news stories, in any case, the current price of Ether could be too high.
With the coming presidential elections, many press releases meant to mislead and cause turmoil within the masses are being experienced. These have often had the effect of resulting in radicalism and sway people from trusting the authentic sources. Thanks to the blockchain technology that can now detect the authenticity of a source.
So far, not only ANSAScheck utilize the blockchain technology for impostor news. In essence, it has been estimated that the world’s news is likely to take the course of blockchain technology soon as reported by Gartner. Apart from just identifying the impostor news, there will as well be blockchain technologies that will mark and filter out impostor stories, the sites will as well be blacklisted.
In Italy, De Alessandria mentioned that the utilization of the blockchain technology ensures that substantial value is given to the chain of distribution of the information ranging from the efforts made by journalists, publishers and the ultimate readers.