A plan which aims to destroy fake news by using blockchain technology, similar to that used by Bitcoin, is set to be released in a bid to cut down on sending out mis-leading information.
The term, ‘fake news’ has been around for decades however, it only became popular after Donald Trump frequently used the term after he was successfully elected in the 2016 U.S presidential election and it is now perceived as one of the biggest threats to the western democracy.
Back in June this year, the House of Commons’ Digital, Culture, Media and Sport Committee launched an inquiry which planned to deal with the problem with fake news in Western culture.
Speaking to the Daily Express, the entrepreneur, Eleesa Dadiani discussed how she planned to take on this issue of ‘fake news’.
“Anywhere you turn on your phone, or watch TV, you see this misinformation – fake news – this need to keep the truth away from people.
There is a very sophisticated system in place that prevents the truth from reaching people, so when you go on Google and you search for something, the first few pages are there because they have SEO or pay per click rankings – everything is just about whoever paid more to get to the top of these listings… like a virus this misinformation spreads.”
The cross-border and cryptocurrency expert has been preparing to release her new campaign against mis-leading information, or fake news, for some time now and is utilising her special-purpose company, Dadiani Syndicate, which will take advantage of the blockchain technology to unlock crucial trade routes.
The crypto entrepreneur has argued that recent events have uncovered the length to which personal information was actively traded, mined and profiled in order to influence and target unware people.
She went on to say:
“Bubblr is an extremely timely leveraging force which understands these problems and has the patented technology to solve them. It is everything Google should have been”
Ms Dadiani is aiming to crowdfund Bubblr through initial coin offering, a digital currency money source for start-ups.”
The launch of this project comes after the recent research published by MIT University which showed that fake news spreads more so online than in ‘real’ news. With fake news stories published every day they are 70% more likely to be retweeted and shared than genuine stories.