WASHINGTON D.C., November 15, 2017 (The Ferowich Report) — Fake news has many connotations and iterations. The 2017 news audience might be surprised to learn weaponized information deployed for political gain dates as far back as as the origins of the United States republic. A new cryptoventure dubbed DNN Media seeks to provide an oasis of solid, fact-based reporting in a desert of politically motivated journalism.
DNN harnesses blockchain’s capability to put a premium on transparency. Seven reviewers ensure each article is on the level and free of factual mistakes. To provide an extra layer of credibility, readers can point out faults, biases, or other errors in news articles—and every change is stored on the blockchain forever. DNN ensures writers are producing true reports while empowering readers to interact with their news.
DNN readers have the ability to suggest topics for to the writing community. This novel capability doesn’t exist in the U.S. media infrastructure and should go a long way in guaranteeing readers’ interests are at the heart of what DNN does. DNN’s success may just rest on how well it serves readers.
DNN essentially crowdsources ideas, content, editing and publishing, all in one place. Platforms like Steemit or Reddit feature reward systems “structured in a way where the focus is on creating content strictly for it’s likeness and popularity rather than its factual correctness,” CTO and co-founder Dondrey Taylor recently explained on Slack.
By contrast, DNN “is all about factual integrity, prior to the content being published,” Taylor said. Further, each DNN article must adhere to editorial guidelines and a uniform format structure.
One of U.S. President Donald Trump’s fakes tropes is fake news. Legacy newspapers like the Washington Post and New York Times penned the candidate’s post mortem before Election Day. Vaunted presidential politics expert Nate Silver of FiveThirtyEight called the election wrong. Hell froze over. Pigs gained wings and started flying.
Being wrong about what will happen in the future isn’t itself blameworthy; unpredictability is the only inevitable characteristic ascribable to the future. The casual certainty of taking Trump’s presidential bid as little more than an entertaining adventure doomed to fail because the polls favored the democratic candidate was, however, a major oversight.
The constant barrage of ‘America after Trump’ reports leading up to November 8, 2016 turned out to be an artificial veneer devoid of substance about a reality that would never exist.
Exploiting the press to damage political opponents was famously on display in the so-called newspaper wars between Alexander Hamilton’s Federalist faction and Thomas Jefferson’s Anti-Federalist collective.
“For god’s sake, my dear Sir, take up your pen, select the most striking heresies, and cut him [Hamilton] to peices [sic] in the face of the public,” Jefferson urged his gifted friend James Madison in a 1793 letter.
Hit pieces remain prevalent in 2017. They have utility for politicos seeking to reduce opponents’ soft power. Importantly, hit pieces are emphatically not aimed an informing the public but manipulating it.
The corporate news landscape lacks incentives to pursue truth. A catchy listicle that goes viral on the “Five Surprising Ways Obamacare Created A Healthcare Bubble” is probably more profitable than a nuanced analysis of potential ramifications of repealing obscure legislative provisions like the individual mandate. Chasing Trump-Russia leads drives CNN’s viewership numbers, but former Obama advisor and CNN contributor Van Jones famously called the narrative a “nothing burger” when the network’s cameras weren’t pointed at him.
Misaligned incentive structures is where DNN Media comes in. Utilizing an innovative two-token economy, writers earn DCC tokens in proportion to reporting quality. While DCC is primarily a unit of account and isn’t directly linked to payouts, the tokens can be cashed out by trading them for liquid DNN coins.
By incentivizing factual content over sensationalistic yellow journalism, DNN Media is exceptionally well-positioned to meet the needs of an underserved market.
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