NewsBlocks: Decentralized Blockchain Verified Trusted News App

Newsblocks is trying to put an end to fake news by using blockchain technology. Though challenging, the use of a decentralized app in news will be an interesting concept.

Newsblocks Concept

In recent times, accessing reliable news has been a challenge for the media industry. There are numerous contributing factors for this that include online censorship, incorrect information and many other problems However, Newsblocks have a vision of bringing fake news to an end by verifying data using blockchain and storing it.

As much as storing world news on blockchain isn’t a new concept, carrying out verification is quite new on the space. Newsblocks aims at building a platform where developers can create apps and people can have access to information in a decentralized manner. It’s interesting that Newsblocks strongly believes that getting rid of fake news is highly important in order for the industry to thrive.

According to Newsblocks’ decentralized platform, news will have to go through a series of fact checkers and fake news detectors before being published. Chatbots will also be engaged towards this end as well. It will be quite challenging to build an archive for global news but a decentralized approach towards this can be good in the long run.

Newsblocks Token

Newsblocks will use rewards to generate more data. Once information is verified accordingly, contributors to the platform will be rewarded using Newsblocks tokens. There’s no denying that giving users incentives and encouraging them to provide authentic news will help the platform to remain relevant.

The Newsblcoks token will be issued through an ICO in the last quarter of 2018. Over and above being used as a reward for users, other uses will become clear as the platform develops over time. For now, the token will play a decentralized role on the Newsblocks platform. The Newsblocks team has a roadmap set out for the coming 3 years.

For now, the platform is focusing on developers to increase the number of distributed apps and building the market infrastructure. It will be interesting to watch how this great endeavor unfolds and manages to bring clients on board.