Canadians often think of themselves as immune to fake news, and better informed than their American neighbors. The reality is that Canadians are frequent consumers of fake news, as they often find it circulating on social media websites such as Facebook and Twitter.
Recently, there’s been fake news circulating about a mosque shooting in Quebec. The news was spread to create animosity towards Muslim Canadians. These news items are often spread by radical hate groups, white supremacists, nationalists, or foreign governments.
Fortunately, there’s a new cryptocurrency that is attempting to revolutionize the entire news generation process. This new cryptocurrency is powered by the Decentralized News Network, or DNN, their organization aims to produce news “by the people for the people”.
DNN aims to have news written by every day users. Users are then rewarded with tokens for writing these news items.
To ensure the news is real, the power of the blockchain is used. The entire process begins with a writer submitting a news article to DNN to be published. DNN then selects a random panel of seven anonymous reviewers. These reviewers assess the articles according to DNN’s strict editorial guidelines, and if required, they will recommend changes to the writer.
If the article is fit for publishing, the writer is then rewarded with DNN tokens. The reviewers are also rewarded with DNN tokens if they approve a story with a majority of other reviewers. By doing this even the reviewers are compensated for their time.
The whitepaper explains this in elaborate details, and it’s one of the better whitepapers that we have reviewed. You can read all about the DNN coin, and how the Decentralized News Network is planning on revolutionizing both the news industry and the way writers are compensated for their time.
The token is currently in the Pre-ICO stage and the ICO launches in early March. You can view videos on the DNN website which explain how the entire process works, as well as learn about the team behind this project. There’s a number of quality advisors behind the team including a research director at Smith & Crown, and the CEO of Gangly Sister LLC.