In modern society, it appears that people are losing faith in the media and this is because of the absence of credible sources of information. The dawn of the twenty-first century laid the groundwork for the modern undisciplined digital economy, in which creating and displaying digital content has now become easy and simple. Users and organizations are creating and publishing digital content in various formats on a big scale nowadays. The unfettered access to generate and spread information on social media and other online platforms has spawned a new challenge of fake news, causing global concerns. And now, with advancements in technology such as artificial intelligence, CGI animations, and social engineering, the boundary between fake and real information will only become increasingly blurred. Therefore, in this post, we are going to answer an important question: can blockchain be used to prevent fake news?
Blockchain and Fake news Nobody seems to have time to verify the legitimacy of statements or videos shared on social media networks. Even if they have the time, the rapid flow of information and news won’t let them verify the authenticity of every piece of content they encounter. And this will cause users to fall for fake news. As a result, it is becoming critical to check the data’s validity and determine where it came from or how and by whom it was generated. Because of the blockchain’s identifiable and open structure, it may be possible to check the validity of news and its origin, as well as create confidence in online journalism. The usage of blockchain in the journalism industry allows for irreversible and secured content production and distribution across the world wide web. What Is Fake News? Fake news is described as information that has no basis in reality but is portrayed as completely factual and ingested by people through all types of media. Fake news or misleading reports have the potential to ruin the reputation of any individual or industry. Fake news isn’t only about politics; it may also have an impact on people’s health, lifestyle, and job. How Can Blockchain Technology Be Used to Prevent Fake News?
Blockchain technology has been dubbed a “revolutionary technology” that has the potential to fundamentally transform the way information is created and transmitted. The challenge of fake news can be successfully dealt with thanks to the blockchain’s transparency, traceability, and decentralization. Internet users will be able to authenticate the information and its origin with the help of blockchain-enabled news platforms. These platforms provide transparent and traceable news in a decentralized and immutable approach. Because the blockchain will bring transparency, the entire globe will be able to identify fake news. The news’ validity will be determined by precise criteria stated in smart contracts, resulting in global confidence and transparency. News platforms that use blockchain technology can track the validity of stories from the beginning to the current day and into the future. This will keep users from falling for fake news. The challenge of fake news can be overcome with the help of a decentralized news network. Furthermore, the lack of centralized data storage means that there are no single points of failure. The content of news recorded on the Blockchain is immutable since it can not be modified, erased, or altered. To Sum Up, The blockchain is a powerful technology that can provide a clever solution to the problem of fake news. Because news is such an important aspect of people’s lives, blockchain technology can be used in online news platforms to ensure transparency and traceability and therefore prevent the spread of fake news. Getting used to, and figuring out, blockchain’s features might take us a while, but for now, the most obvious use of it is cryptocurrencies, which you can trade on Bitunivex.com Bitunivex.com is a global cryptocurrency exchange, Regulated by Austrac and Headquartered in Sydney Australia. Signing Up is easy, Just Visit Bitunivex and register an account in under 5 minutes.