Among the many applications of Blockchain Technology is that of fighting fake news.
The main challenge of the problem with fake news is verifiability. How do you verify the news is not real - thus fake- possibly in real time? So basically in USA this would come down to the following question: who is right between Fox News and CNN?
An interesting approach to this problem is the one proposed by Snip Snip - News. Summarized. (https://www.snip.today/)
This approach is based on the idea that the reader needs a source of news that is quick to read and understand and verified by other users rather than by centralized publishers such as CNN or Fox.
So Snip tries to implement the best features of blockchain technology to bring these aspects of news consumption to the public. It has created a distributed system wherein writers can offer snippets i.e. concise summaries of news articles and the public can choose the topics they want to read about, whether sports, technology, medicine, etc.
The main driver of the system is the verification and reward system wherein the writers can earn SnipCoin (Snip’s version of a cryptocurrency token) by writing good snippets. On the other hand, the advertisers can pay Snipcoin to increase visibility. Readers can donate to writers with tokens and, if they choose, clear their feeds of advertisements for a small fee.
The whole system within the Snip ecosystem of news connects writer to reader directly, thus removing the risk of censorship and bias which is very common in traditional news.
Finally, readers can control what they read and encourage writers they like having a guarantee that what they are reading is validated.
There are also different other startups which are working to propose solutions to the problem of fake news and some of those are https://publiq.network/ (https://publiq.network/) and Userfeeds - Attention Economies (https://userfeeds.io/)
This article is also featured on Quora as one of my answers there which you can find here https://www.quora.com/Can-we-eliminate-fake-news-with-blockchain-technology/answer/Alket-Cecaj?srid=n9bS
