A RADICAL plan to tackle the influx of fake news by using blockchain technology similar to that used by Bitcoin is set to be launched in a bid to cut down on disinformation.
While no one had heard of the term just two years ago, fake news is now perceived by many as among the biggest threats to Western democracy.
Fake News (Wikipedia)
In June, the House of Commons’ Digital, Culture, Media and Sport Committee launched an inquiry which aimed to address the fake news phenomenon.
Now, entrepreneur Eleesa Dadiani has revealed how she intends to tackle to problem of false information.
Speaking exclusively to Express.co.uk, she said: “Anywhere you turn on your phone, or watch TV, you see this misinformation – fake news – this need to keep the truth away from people.
“And 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 high SEO or pay per click rankings – everything is just about whoever paid more to get to the top of these listings.”
She added: “Like a virus, this misinformation spreads.
“Before you get to any possibility of truth, you have already spread a disease.”
Spreading like a Disease (Wikipedia)
The 30-year-old cryptocurrency and cross-border trade pioneer is gearing up to launch a new concerted campaign against the modern plague of disinformation with her special-purpose company Dadiani Syndicate, which utilises blockchain technology to unlock vital trade routes.
Ms Dadiani is hoping to crowdfund the app – Bubblr – via initial coin offering, a cryptocurrency money source for start ups.
The cryptocurrency entrepreneur argued recent events had exposed the extent to which personal data was actively mined, traded and profiled in order to target and influence unaware individuals.
She said: “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.”
The project’s launch comes in light of recent research by US University, MIT, showing that fake news spreads more prolifically online than real news, with false news stories 70 percent more likely to be retweeted than valid ones.
American University, MIT (Flickr)
In the UK last month, on July 20, a rumour that the Queen’s husband, Prince Philip, had passed away began to gain traction through the internet.
The murmurings began from a misleading Facebook post and rapidly descended into the droves of the social media and internet sphere.
Writing in The Guardian, earlier this month, Digital, Culture, Media and Sport Committee chair Damian Collins spoke of the importance of tackling fake news.
He said: “If Silicon Valley won’t stop fake news, we will.”
He added: “We live in a world where people increasingly see social media not just as a gateway to the internet, but as a main source of news.
“That’s why we have to look at the threat that campaigns of disinformation, which spread through websites like Facebook and Twitter, pose to our democracy.”