Can Facebook Use Blockchain’s Benefits For Fighting Fake News #FacebookCoin
Facebook is no stranger to criticism concerning the news that appears on its website. In 2016, the social media platform has been accused for allowing fake news, which may have been a factor in Donald Trump’s presidential win. Further, Facebook has allowed Cambridge Analytica to scour fake profiles to generate data. Even though the platform has been working to address the fake news issue, there are still setbacks along the way.
Although there are many avenues that may help the platform address its fake news problem, some are pointing to blockchain technology due to the various features that may be able to help address inaccuracy and tampering. Here are a few reasons that blockchain technology may be the go-to option.
Blockchain To Help Verify Identity
Fake news is often published by fake accounts. Therefore, to mitigate the proliferation of fake news, it is necessary to crack down on the fake accounts that generate the news. Despite Facebook’s current measure of applying machine learning and artificial intelligence to spot the fake accounts, such efforts are not as effective as they could be. Blockchain may be able to enhance the efforts.
Blockchain tracks identities on the blockchain to ensure that none of them are subject to theft. Additionally, the platform can track and compare the actions that various accounts take and can weed out the bad actors that tend to be in charge of many accounts and subsequently stop them.
Rewards For Content Creators
Another factor responsible for fake news is the content creators behind it. To address the problem, there is Steem, which launched a blockchain-based social media network known for rewarding content creators with financial incentives. The platforms provides creators with financial incentives to produce quality content. As a result, the network can get rid of the bad actors in an easier manner.
If Facebook were to apply the same type of incentive system, the highest quality content creators would migrate to its platform, especially when offered financial incentives for driving positive engagement. Additionally, the platform could weed out the bad content creators because they would be reported by the community.
Blockchain For Crowd Verification
Next, it is imperative to research and verify the facts that is posted. One platform, called Trive, is implementing such an approve on its platform. Trive enables people to research, verify, and rate the proof of the information posted. Facebook could benefit from crowdsourcing content verification as well. The crowdsourcing approach would help verify content to ensure that the content on the platform is of the highest caliber.
Blockchain For Public Bias Analysis
Finally, Facebook could connect with publication and content hubs to look at consumer sentiment concerning articles posted on the platform. This gives the platform insight into published content and biases.
Ultimately, the blockchain approach, the social media platform may be able to overcome its fake news issue and it may also create a better environment for its users. Although there are various methods the platform can use, the blockchain seems to be a fine one.