Major American daily, the New York Times, in partnership with IBM, recently piloted a blockchain-powered prototype to tackle the rampant fake news and misinformation circulating in today’s media space, Decrypt reports, June 13, 2020.
Using Blockchain to Separate Facts from Fiction
Easy access to the Internet has essentially eliminated the physical distance between people. On the flip side, however, the virtual proximity enabled by the Internet has led to an unprecedented rise in the spread of misinformation that is steadily eroding public trust from online media.
In a bid to curb this menace, the New York Times and IBM – via their jointly developed blockchain project called the News Provenance Project – recently concluded a pilot that tracked the journey of a photograph across various publications.
The team created a prototype of a makeshift social network that tracked the status of a photograph from the time it was posted on the platform until the time it underwent heavy edits and changes in captions.
As expected, all changes made to the photograph were duly recorded and logged into a secure immutable database that could be accessed by the observers at any given time. Further, the prototype also leveraged smart contracts to ensure that only a specific group of people had access to the photograph’s metadata.
A Mixed Bag of Results
Pooja Reddy, Product Manager, New York Times, was responsible for the blockchain prototype project. Reddy recently took to Medium to stating that the prototype did indeed help readers better understand the origin of news photo through the provided context. She, however, also acknowledged several bottlenecks that could hinder large-scale adoption of such a mechanism.
According to Reddy, the requirement to have member publications review and approve content shared by other media outlets could prove to be a Herculean task for the involved entities. Reddy added that matching the circulating photos with the original ones on the blockchain was another obstacle that was identified during the pilot. She stressed the need for emerging technologies such as perceptual hashing and computer vision that could help overcome the challenge.
Finally, Reddy identified cost as a major factor that could discourage smaller news organizations from embracing such a prototype project. She said:
“This prototype was an experiment that taught us a lot about the power of credible, contextual information in social media feeds, but there is a long way to go before something like this can be fully realized.”
“Nevertheless, there is a large opportunity for using blockchain to help fight against misinformation in news photos.”
The use of blockchain technology in journalism space is not a particularly new idea.
The challenge lies in developing a blockchain-enabled product or service that not only enables media firms to curb the spread of widespread misinformation but also is cost-efficient to democratize an industry that is getting increasingly centralized.
Billionaire Mike Novogratz Builds Bitcoin Position on Prescience
The sentiment in the crypto community has shifted now that the bulls are back in charge. With the bitcoin price trading within striking distance of $12,000, investors know from experience that this could be just the beginning of another major rally. Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to […]
The post Billionaire Mike Novogratz Builds Bitcoin Position on Prescience appeared first on BeInCrypto.
The sentiment in the crypto community has shifted now that the bulls are back in charge. With the bitcoin price trading within striking distance of $12,000, investors know from experience that this could be just the beginning of another major rally.
Billionaire investor Mike Novogratz seems to think so. The Galaxy Digital chief tweeted to BeInCrypto that he added to his bitcoin position on Oct. 19, a decision made on prescience leading into a rally on Oct. 20.
And it’s what he had to say about where the BTC price is headed that could give investors a chance to capitalize on the momentum.
Novogratz expects that once bitcoin takes out $12K, not only does it move higher from there but it will do so quickly. He points to the fundamentals, including “too much demand from new participants,” as the catalyst. Novogratz told BeInCrypto,
Bitcoin’s Rough Resistance
The $12K level is an important threshold for several reasons. Many consider it tough resistance and the BTC price has not been able to overcome it of late. Recent sessions have seen it remain stuck between the $10,000 and $11,000 area.
Once bitcoin manages to reattain this milestone, the last time of which was August 2020, pundits argue it could be off to the races again.
Bitcoin bull Ivan on Tech, who posts daily videos on YouTube where he has more than 260,000 subscribers, has been giving the play-by-play. He pointed out on Oct. 20 that the bitcoin price actually went straight to $12,000 but got rejected there, which according to him is “all according to plan.”
Once the bitcoin price successfully breaks this level, Ivan on Tech is expecting big things, exclaiming in a tweet,
“Bitcoin will break $20,000 like a massive BOSS.”
The entire crypto community is likely glued to their screens to see if history repeats and the bitcoin price rallies to the moon.
Latvian Financial Watchdog Issues Crypto Fraud Warnings
Latvia’s Financial and Capital Market Commission (FCMC) has issued a notice to investors to refrain from indulging in malicious digital currency platforms and fake opportunities. The regulator also listed some “signs of fraud” to help individuals identify these deceptive practices. In an official statement published by the FCMC, investors were urged to stay vigilant against […]
The post Latvian Financial Watchdog Issues Crypto Fraud Warnings appeared first on BeInCrypto.
Latvia’s Financial and Capital Market Commission (FCMC) has issued a notice to investors to refrain from indulging in malicious digital currency platforms and fake opportunities.
The regulator also listed some “signs of fraud” to help individuals identify these deceptive practices.
In an official statement published by the FCMC, investors were urged to stay vigilant against the growing number of investment opportunities that target individuals across different channels.
According to the FCMC, cryptocurrencies, and associated platforms within Latvia function with a lower degree of regulation when compared to many other financial markets. It claims this makes attacks more prevalent in the country.
The regulators also mentioned that these attacks might be difficult to detect at first because they oftentimes use “the names and images of renowned companies.”
Uptick in Fraud
Many online advertisements used for fraud purposes lead unsuspecting victims to fancy websites that give them a false sense of security.
The FCMC noted that online fraudsters are constantly on the watch for new ways to extort money from potential victims and that they will often contact investors via email or other popular social media platforms, and even sometimes by phone.
The scammers normally try to mislead investors into buying currencies that don’t exist, refuse withdrawals, or demand that they pay exorbitant amounts for transfers of funds.
The FCMC has welcomed residents to check with the watchdog in order to verify the legitimacy of any platforms or services before actually investing any money. The regulator also listed verified financial service providers on its website.
Upgraded XMR Becomes Best Performer Among Top 15 Coins: Analysis
The upgraded XMR coin becomes the best performer among the top 15 coins by market capitalization as we are reading more in our latest monero news. The privacy-focused cryptocurrency became the best performing coin among the top 15 tokens by market cap after it launched the network update over the past week. The upgraded XMR […]
The upgraded XMR coin becomes the best performer among the top 15 coins by market capitalization as we are reading more in our latest monero news.
The privacy-focused cryptocurrency became the best performing coin among the top 15 tokens by market cap after it launched the network update over the past week. The upgraded XMR ranked 14th by market cap and trades at $127, increasing by 5% in the day, trimming the weekly losses to less than 4%. At the same time, other major coins from the top 15 which are less than 3% in a day. XMR increased today after a slight reaction to the expected update which was launched on Saturday.
Initially announced in August 2020, Monero’s latest Oxygen Orion update brings some more important improvements to the network at a time when the regulators are getting increasingly worried about the privacy coins. The latest update brings the so-called compact linkable spontaneous anonymous group feature.
As per the Monero blog, the CLSAG update allowed smaller and tighter transactions and will also reduce the transaction size by about 25%. This will also improve the transaction times by 10% and will bolster privacy with Dandelion ++ which is a feature that aims to protect users’ IP addresses. The latest update release comes not too long after another speed and security-centric upgrade named Nitrogen Nebula was launched which was one of the many upgrades that went live in the past few months.
Right before the release, Monero enjoyed an increase in price and moved up by about 35% in a month and 125% in a year while the US Department of Justice released a new report that explains the risks of end-to-end encryption along with the US Internal Revenue Service which declared war on privacy coins, offering a bounty of about $625,000 to crack Monero’s privacy code.
Now, Monero scales up to 20 times while compared to the other upgrades, there will be no change to Monero’s mining algorithm was frequently modified to disadvantage the ASIC miners. The project’s upgrade from 2019 included RandomX which means that the network no longer needs changing to its mining algorithm for ASIC resistance. Though not directly related to the upgrade the development of the community project is progressing. The community developers have been working on the atomic swap which allows users to exchange Monero for other coins. The proposal for the project has reached full funding as of late.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Flybe Comeback Planned for Spring 2021
Use domestic quarantine rooms for Aussies abroad, say airlines
CASA staff pushed ‘to the brink’, say Professionals Australia
Rep. Alexandria Ocasio-Cortez’s Among Us stream peaks at over 400,000 concurrent viewers
Space Force stands up operations command in Colorado Springs
Hikaru Nakamura challenges President Barack Obama to a game of chess
PUBG Mobile reveals first virtual band, Power4
Lee Sin added to League of Legends: Wild Rift
How to use the AR Mapping features in Pokémon Go
Podcast: What’s the real story behind Scurrah’s Virgin exit?
Hundreds of Twitch partners have received DMCA takedown warnings
Brisbane-Cairns now busiest Qantas route
Haksal retires from professional Overwatch
CO.R.D.A.R Valsesia adopt innovative Israeli wastewater data solution to reduce water degradation in the Italian Alps
Tasmanian drones find guns and chase vehicles
Political strategist turned tech investor Bradley Tusk on SPACs as a tool for VCs
Armada or Mang0: Super Smash Bros. Melee community debates best player ever
Commencement of Cash Tender Offer for Ascent Resources Utica Holdings, LLC’s and ARU Finance Corporation’s 9.00% Senior Notes due 2027
Watch GM unveil the $80,000 GMC Hummer EV right here
Entrada de Pedidos da Indústrias Romi atinge R$313,4 milhões, crescimento de 65,5% em relação ao 3T19
AOC aims to get out the vote by streaming Among Us with pokimane and HasanAbi
Berkeley Lab Building Efficiency Campaign Drives $95M in Annual Energy Savings
PSVR Not Compatible With PS5 Camera, New Japanese Bundles Include Adapter for PS4 Camera
Feast your eyes on the all-new, all-electric GMC Hummer EV
GMC reveals the Hummer EV: 1,000 HP, 350 mile range, and 0-60 in ‘around 3 seconds’
Air Force Thunderbirds to Headline Wings Over North Georgia
Riot lays out buffs, nerfs, and other changes coming in League Patch 10.22
NASA’s OSIRIS-REx spacecraft lands on asteroid in bid to collect samples
OSIRIS-REx touches down on asteroid
Everything we know about Verizon’s Wild Rift Invitational
AZR open to European offers
Unblu Teams Up with Celero, LUKB to Boost Digital Customer Engagement
Lockheed Martin executives commend ULA for fighting back against SpaceX
FunPlus Phoenix in talks to sign GODSENT roster
Hycroft Appoints Stanton Rideout As Executive Vice President & Chief Financial Officer
Op-ed | Space Force should break the mold in recruiting and retaining talent
GWS Tool Group Announces Acquisition of STF Precision (STF)
Global Print and Apply Labeling and Labeling Equipment Market Outlook to 2027
Algonquin Power & Utilities Corp. Announces Dates for Third Quarter 2020 Financial Results and Conference Call
Lida Resources Unaware of Any Material Change
Blockchain1 week ago
10 Million Euros Lost to Crypto Frauds in Belgium in One Year
Techcrunch4 days ago
Original Content podcast: It’s hard to resist the silliness of ‘Emily in Paris’
Gaming1 week ago
‘Call of Duty: Mobile’ Season 11 Anniversary Update Is Out Now with a New Battle Pass Coming Soon, New Maps, XP Card Changes, and a Lot More
AI1 week ago
Key Challenges and Benefits of AI Chatbots: A Balanced Perspective
1 week ago
Filecoin Fervor Gaining Momentum in China as Mainnet Nears Launch
Blockchain1 week ago
Report: Q3 2020 Was The Best Quarter For DeFi
1 week ago
Bitfinex launches EOS, Litecoin, and Polkadot Perpetual Swaps
Blockchain1 week ago
Crypto Derivatives September’s Recap: Binance Futures Leading As BitMEX Down 30%