Cryptocurrency News

Has Coinbase launched a decentralized fact-checking portal?


Coinbase CEO Brian Armstrong has announced the launch of “fact-checking” via the company’s blog.

In a post on May 27, Armstrong announced the title “Declaration of Coinbase Fact Check: Decentralization of Truth in the Age of Misinformation”, Armstrong expressed the firm’s desire to deal with untrue claims aimed at the Coinbase and crypto industry:

“We will use this part of the blog to deal with misinformation and misconceptions about coinbase or crypto being shared in the world.”

Post The subtitle was: “Every tech company should go directly to its audience, and become a media company,” which he suggested elsewhere in the piece is not too difficult: “Whether traditional, social or corporate media, we all Just typing words on the Internet. “

While the title of Armstrong’s blog post article suggests that fact-checking at some point in the future will involve some form of decentralization, currently “fact-checking” only responds to articles that allow Coinbase to “misinform” “As regards.

So in other words, Coinbase intends to post posts on Coinbase blogs expressing Coinbase’s opinion on matters related to Coinbase and cryptocurrency.

Some may argue that they already do this. In fact there are currently four pretty standard blog posts in the Fact Check section: Coinbase’s response to a New York Times negative article about Coinbase, the company’s response to “misinformation” about Coinbase executives’ share sales. One opinion piece on the environmental impacts of bitcoin itself and another on the use of crypto in illegal activity.

Armstrong claims that the blog will be seen as a “source of truth”.

“To be a source of truth, companies will need to be comfortable sharing facts that portray them in a negative light as well. To build trust is nothing like sharing mistakes.”

Armstrong is famous Against media handling, And claimed in 2020 that company leaders are opting to connect directly with customers as opposed to engaging with mainstream journalists:

“Publishing on our own blog / Twitter / YouTube allows us to speak our mind and talk to our customers – don’t get a quote in an otherwise balanced (or sometimes outright mean / blunt) article.”

Armstrong suggested that the company may adopt blockchain-based fact-checking in the future:

“In the future, it will also move to more crypto native platforms such as BitClout, or Crypto Oracle. In the long run, the real source of truth will be the one that can be found on-chain, with cryptographic signatures attached.”

Some firms and news outlets have started experimenting with fact-checking and verification using blockchain.

In April 2020, Italian news publication Ansa unveils a blockchain-based news tracking system To enable readers to verify the origin of any news appearing on various media platforms of the company.

In October 2020, Verizon launched a. Launched Blockchain-based, open-source newsroom products Which binds and secures the firm’s news publications using “cryptographic principles”, however, the firm noted at the time that “currently only text changes are tracked on the blockchain.”