Brian Armstrong, CEO of Coinbase, has announced the start of a so-called “fact check” via the company blog.
In a Thursday post entitled “Announcing the Coinbase Fact Check: Decentralizing Truth in the Age of Disinformation” Armstrong expressed the company’s desire to fight false claims against Coinbase and the cryptocurrency industry in general.::
“We will be using this section of the blog to combat misinformation and mischaracterization about Coinbase or cryptocurrencies that are shared around the world.”
The entry was entitled “Every technology company should address its target group directly and become a media company.”which pointed out in another part of the article that it is not very difficult: “Whether traditional, social, or corporate media, we all write words on the internet.”.
While the title of the article in Armstrong’s blog post suggests that sometime in the future The data review will include some form of decentralizationCurrently The “fact-checking” is just about articles that respond to what Coinbase sees as “misinformation”.
In other words, Coinbase intends to post posts on the Coinbase blog expressing Coinbase’s opinion on issues related to Coinbase and cryptocurrencies.
Some might argue that the company is already doing this.In fact, the Fact Check section currently has four fairly standard blog posts: Coinbase’s response to a negative New York Times article about Coinbase, the company’s response to “misinformation” about the sale of shares by Coinbase executives, and one Opinion on the environmental impact of Bitcoin and others on the use of cryptocurrencies in illegal activities.
According to Armstrong, the blog is viewed as a “source of truth”..
“To become a source of truth, companies need to feel increasingly comfortable sharing facts that they portray negatively. There’s nothing like sharing mistakes to build trust.”
Armstrong is famous for his aversion to dealing with the media. and in 2020 he stated that lExecutives are increasingly choosing to interact directly with customers rather than interacting with traditional journalists::
“By posting on our own blog / Twitter / YouTube, we can say what we’re up to and talk to our customers without getting an offer for a balanced (or sometimes downright petty / sarcastic) article.”
Later in the mail Armstrong suggested that the company become more proactive in content creation and may introduce blockchain-based fact-checking in the future.::
In the future, it is also likely that it will switch to more native cryptocurrency platforms like Bitclout or Crypto Oracle. In the long run, the real source of truth will be what can be found on the chain with a cryptographic signature “.
Some businesses and media outlets have already started experimenting with fact-checking and verification using blockchain..
In April 2020, Italian news publication Ansa introduced a blockchain-based news tracking systemÂ So that readers can verify the origin of messages that appear on any of the company’s various media platforms.
In October 2020 Verizon has released a blockchain-based open source newsroom productThis binds and secures company messages according to “cryptographic principles”. The company stated at the time that “currently only text changes are tracked on the blockchain network”..