This reputation and ranking framework is aiming to increase transparency online through blockchain communities. Polish startup Userfeeds is developing a content-ranking system for newsfeeds that is inspired by Google Pagerank and Liquid Democracy. They are working on algorithms that would promote trustworthy news sources on the Internet, addressing the issue of fake news on media platforms with blockchain transparency.
Using cryptocurrency Ethereum, Userfeeds hopes to bring transparency and stronger verification processes to the provision of information online. Still in the proof of concept stage, their ranking framework would enable users to create block-chain based advertising networks similar to Google Adsense, decentralized social media destinations, decentralized voting systems and reputation currency schemes that would let users reward people for using cryptocurrencies.
Key Themes Behind This Trend
- Blockchain Content Ranking System
- Opportunity for news and media companies to implement blockchain technology for a ranking system to increase transparency and trust.
- Decentralized Advertising Networks
- Blockchain technology can enable the creation of a decentralized advertising network like Google Adsense, disrupting traditional centralized advertising networks.
- Reputation Currency Schemes
- Blockchain technology can enable the development of reputation currency schemes that would let users reward people for using cryptocurrencies, making transactions more trustworthy.
Where This Applies
- News and Media
- The news and media industry can utilize blockchain technology to tackle the issue of fake news through a ranking system that promotes trustworthy sources, increasing transparency and trust with their audience.
- Advertising
- Blockchain technology can disrupt traditional centralized advertising networks, allowing the creation of decentralized advertising networks and increasing transparency in user data privacy.
- Cryptocurrency
- Blockchain-based reputation currency schemes can increase trust in cryptocurrency by rewarding users for trustworthy transactions, creating a stronger culture of trust and transparency in the industry.
