Coinbase-Backed Startup Suggests To Use Blockchain To Fight Fake News

A Polish startup is aiming to use Blockchain technology to combat fake news by using incentives to rank content.

Userfeeds, which has gained $800,000 in seed funding from investors including Coinbase Founder Fred Ehrsam, is currently working on its flagship Userfeeds Engine product.

“Blockchains give us the open layer that is necessary for storing data relationships currently locked up in closed silos,” Founder Maciej Olpinski said in an introductory blog post in November.

“Crypto-tokens make it possible to program incentives and design new reward structures for people’s behaviours.”

Userfeeds Engine, TechCrunch reports, “will allow users, developers and publishers to run custom rankings to produce search results, information feeds, recommendation systems, top 10 lists, and sponsored links.”

In the long-term, however, an entire platform is in the pipeline. Users will be able to create reward schemes for target audiences and even reward them in their own bespoke crypto tokens.

A decentralized equivalent of Google Ads is also planned, capitalizing on the nascent Blockchain ads market, along with decentralized voting systems.