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Has Coinbase launched a decentralized fact checking portal?

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Coinbase CEO Brian Armstrong has introduced the launch of what he’s calling a “Fact-Check” via the company’s blog.

In a May 27 post titled “Announcing Coinbase Fact Check: Decentralizing Truth in the Age of Misinformation,” Armstrong expressed the agency’s need to fight unfaithful assertions aimed in direction of Coinbase and the crypto business as a complete:

“We will use this section of the blog to combat misinformation and mischaracterizations about Coinbase or crypto being shared in the world.”

The submit was subtitled: “Every tech company should go direct to their audience, and become a media company,” which he advised elsewhere within the piece is not very troublesome: “Whether or not conventional, social or company media, we’re all simply typing phrases on the web.”

Whereas the title of Armstrong’s weblog submit article means that in some unspecified time in the future sooner or later the fact-checking will contain some type of decentralization, at current the “fact-checking” merely consists of articles responding to what Coinbase deems as “misinformation”

So in different phrases, Coinbase intends to place out posts expressing Coinbase’s opinion on issues associated to Coinbase and cryptocurrency on the Coinbase weblog.

Some would possibly argue they already do that. Certainly the Fact Examine part at present comprises 4 fairly normal weblog posts: Coinbase’s response to a detrimental New York Instances article about Coinbase, the corporate’s response to “misinformation” about Coinbase executives’ share gross sales, in addition to an opinion piece on Bitcoin’s environmental results and one other on crypto’s use in criminality.

Armstrong claims the weblog will come to be seen as a “source of truth”.

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

Armstrong is famously averse to coping with the media, and in 2020 claimed that firm leaders are more and more opting to attach straight with clients versus partaking with mainstream journalists:

“Publishing to our own blog/Twitter/YouTube lets us say what is on our mind and talk to our customers — not get one quote in an otherwise balanced (or sometimes outright mean/snarky) article.”

Later within the submit Armstrong advised that the corporate will turn out to be extra proactive with content material creation and should embrace blockchain-based fact-checking sooner or later:

“In the future, it will also likely move to more crypto native platforms, like Bitclout, or crypto oracles. Long term, the real source of truth will be what can be found on-chain, with a cryptographic signature attached.”

Some companies and information retailers have already begun experimenting with fact-checking and verification utilizing blockchain.

In April 2020, Italian information publication Ansa unveiled a blockchain-based information monitoring system to allow readers to confirm the origin of any information showing on any of the corporate’s varied media platforms.

In October 2020, Verizon launched a blockchain-based, open-source newsroom product that binds and secures the agency’s information publications utilizing “cryptographic principles,” nevertheless, the agency famous on the time that “only text changes are currently tracked on the blockchain.”

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