Crypto News | EC to Stop Fake News with Blockchain

Recently, there has been a lot effort to stop fake news. These days we hear the expression so often it has almost become a swear word. Depending on who cries ‘Stop fake news!’, we can construe it either as an attack on a democratic institution or as genuine criticism of loose journalistic practices. But how do we tell them apart? Fake news is now so unpopular, how do we know that somebody is not just using the term to deflect criticism and to spread doubt and hatred among his/her followers? According to a report published on TechCrunch on Monday, April 30, the European Commission may have found the answer. By summer 2018, the EC will implement its so-called Code of Practice on Disinformation, with blockchain technology becoming a key part of the overall framework. Distributed ledger technology and other blockchain-based identification processes can ensure traceability, transparency, and reliability of news spread around the Internet.

UNICEF Australia has launched The Hopepage, a website which borrows the computing power of its visitors in order to mine cryptocurrencies. Obviously, it is a charitable initiative, aimed at raising funds and procuring relief materials for crisis areas around the world – including vaccines, drinking water, and food. At the moment, the project is helping the Rohingya refugees who fled to Bangladesh from Myanmar amid civil unrest.

The United Nations Development Programme, on the other hand, partnered up with Sun Exchange, a blockchain startup that is working on a pilot program to bring solar power to a Moldovan university. People around the world can contribute to help buy the required solar panels. In a way, they will be leasing the equipment to the university for a period of 20 years, during which they will receive compensation in Bitcoin and other cryptocurrencies. launched DataSmart, a blockchain-based data verification platform. is an online marketplace for outsourced research, and it needs DataSmart to verify and validate the supply chain in pharmaceutical and biotechnology research, which is directly linked to the integrity of the company’s research data.

Meanwhile in Japan, news outlets have been reporting on the number of companies which have applied for or withdrawn their applications to operate crypto exchanges. According to info obtained from the Japanese Financial Services agency (FSA), so far eight companies have decided to withdraw their applications, but one hundred other companies are waiting to take their spot on the market. The announcement was made during a study group last week, with representatives from the Ministry of Finance, the Consumer Affairs Agency, the Ministry of Justice, and the Bank of Japan in attendance. The companies that will withdraw their applications include Debit, Raimu, Bitexpress, Tokyo Gateway, Mr. Exchange, Bit Station, Campfire, and Payward Japan (owners of Kraken). Let’s hope that their replacements prove to be more resourceful and resilient.


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Author: Max Rothstein

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