News BlockChain for ChainBLX


#1

ChainBLX will use its news blockchain as a financial instrument allowing to reward for good news and punish for fake news.

Our news chain is concerning information on enterprises and economic info to support investment decision making process for digital certificates, derivatives and all kinds of currencies in our blockchain ecosystem. But in reality this can principal can be used for all kinds of news.

This fact that chainblx it is in a financial ecosystem gives an interesting element to the digital contracts within the news blockchain. We can financially reward for correct news and punish them for fake news.

If someone finds a news story she enters the original story in the blockchain and in the process hopes to make some bucks for the information. Reporters, etc. have to live too.

Now, someone else has to put up a bond in form of cryptocurrency or digital certificates, basically anything with value that he doesn’t want to lose. This guy is basically the investor in the story… (the VC guy). He/she conducts diligence and checks to see that it is correct story.

The bond is attached to the news story in the digital contract and logged in the blockchain.

Now the news story copyright is traded like any other commodity to news channels etc. and the news story copyright has the potential to make money.

People can add information, but they also have to have an investor (VC guy) for the new addition.

If it’s discovered that it is “fake news” the bond is lost and the copyright money will be reimbursed to the media outlet (the copyright money is held for some time). Thus the news source and the investor/editor lose money instead of splitting the profit.

The bond may even pay for correcting the fake story as well as helping to pay for “fake news headhunters” which would make money when they find fake news by collecting the bounty.

Both sides, whether it’s fake news or not are locked. The majority decides, after seeing both sides arguments of whether the story it’s true or not.


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#2

using the news blockchain as a financial instrument will be basically a game changer platform for reporters and authors. it will be interesting to see a news as a asset and its trading over blockchain.


#3

@BLX @BullBear_ChainBLX And the best it integrates with ease, in our system. It is a nice addition to FX, Stocks, Options, Derivatives, ICO’s /IPOs.


#4

I agree, the international aspect of investors vs bounty-hunters will keep the news balanced.

Will bonds of different value exist depending on the news story ?

For investors will it be an auction or first come first serves opportunity?


#5

This is a horrible idea. Now money should decide about news!!!

A dictator pays a fake investor to promote fake news LOL. It will be worth for him to pay the bounty, but the damage is done! Some good educational news doesn’t get exposure, because nobody wants to invest.


#6

I think its a good idea.


#7

News is big business. :moneybag::money_mouth_face::money_mouth_face::moneybag::money_with_wings: You have to fight the problem at it’s root. News bountyhunters is innovative. Reporters do this job well, but with the increasing amount of info they need help. So what’s so bad about if a reporter looks into a story, waists his time and now gets paid a bounty for his work? :wink:


#8

This could really work. Over time, certain investors could become brands like AP or Reuters. There will be those who try to game the system, but the checks and balances should keep things overwhelmingly on the up and up.


#9

I bet that financial products will be designed around funds that invest in news stories. @bitchcoin you’re right that less-serious news, like celebrity stuff, could still take precedence. However that seems to me like a market force issue rather than a blockchain issue.


#10

It’s an interesting concept but can be abused by “investers” who are willing to lose their bond money as long as a fake news story gets some life (it could be viewed as an advertising expense) and real news could be suppressed (and bond money lost) due to coordinated attacks from organized hyper partisan groups.


#11

Wonder how the "russian "involvement would play out in this scenario.


#12

chainBLX will comeout with a great solution for allover well and news trading will be a huge demand allove.


#13

According to the post, there will be a squad/group who will help fish out the fake news. This is important because it will ensure that no matter how much a story receives money from investors, it can still be rendered fake news if it is determined to be so.
This will be great since fake news will be removed as soon as it is determined to be so, allowing us the readers to get only the real content.


#14

You all buy Trump’s fake news slogan. Fake news is not a problem! Its just a political issue raised to defend yourself.


#15

It is definitely a problem! Its been so for a few months now. Denial that a problem exists justifies it as an issue.


#16

How can I mute someone on the forum?


#17

How can we delete another persons post?


#18

Come on now @bitchcoin and @bp2423 , keep it civil or move your conversation to DM’s.


#19

This is a real question. With news, it will be interesting to see how news isn’t always real. But the verification will be the most interesting. I can see a interesting game scenario though …


#20

I see how it fights fake news on a bigger scale, but how does it fight fake news over social forums?