SIFT is a new service helping to fact-check online media.
It is a decentralized marketplace offering fact-checking as a service, using blockchain technology to help people and organizations get facts, instead of ‘fake news’. SIFT allows anyone to request and pay for a claim in a news story to be verified. It makes it easy for anyone, and in particular news professionals, to provide evidence to support claims, and earn rewards for doing so.
It leverages blockchain to provide a trusted, secure and intermediary free system for quality checking evidence, powering transactions and creating a secure, censorship resistant database of validated content. At the heart of SIFT is the Fact-Graph API, which provides fact-checking-as-a-service to media organizations, helping to make it easy to verify sources and content, and spread validated information on the Internet.
Media organizations are suffering from a lack of credibility and declining revenues. They need to prove their credibility while sustaining themselves.In today’s age of real-time journalism, they need to be able to verify content and sources on demand. However, time and financial resources are scarce, and fact-checking is currently a time intensive activity. Media consumers increasingly distrust media organizations, in part because of the spread of fake-news. It is therefore hard for media consumers to know what to believe or trust online, and they are looking for sources they can trust -96% of media consumers would like fact-checked news (Reuters Digital News Report 2017).
The sustainable and scalable solution for fact-checking digital news media is proposed as a B2B and B2C service. For media organizations struggling to validate sources, SIFT offers the Fact-Graph API providing trustworthy, unhackable, validated content on demand to help them demonstrate their credibility. It also allows media organizations to earn royalties for their validated content through syndication, creating new revenue streams. For media consumers it offers a way to participate in the news validation process, through an ‘evidence economy’. This offers financial rewards for contributing to fact-checking, and decentralizes the process, to help make fact-checking a scalable and sustainable activity.