Fake news is a big problem, especially in the modern era, where most people consume information from social media. Research shows that 80% of people have consumed fake news in the United States alone. Errol Hula is out to fight this crisis, leveraging the power of infinite scaling on Bitcoin SV.
“Fake news and misinformation is a huge problem and a tough one to crack, but we’ve done it,” Hula, the founder and CEO of BSV-powered social media platform NOBL, told CoinGeek Backstage reporter Becky Liggero.
NOBL comes with a bulls**t button (or BS button) which you simply hit to call out any post with fake news or misinformation.
“You hit that button and provide a reference for why it’s BS, and then we take all that information, aggregate it and then we display for the users what and who they can trust on the platform. We’re really solving it [fake news] in a unique way,” Hula explained.
Social media has become an integral part of our day-to-day lives. With some platforms like Facebook and Instagram having billions of users, it’s a powerful tool for spreading information. Unfortunately, it has become a popularity contest where those with the most followers dictate the debate and, consequently, get to label what’s true and what’s not.
So far, leading platforms like Twitter (NASDAQ: TWTR) and Facebook (NASDAQ: META) can’t stop this misinformation. The former’s struggle with fake news is well publicized, with its go-to strategy being to delist accounts for offenders like former President Donald Trump and rapper Kanye West.
In addition to curbing misinformation, NOBL is also addressing the other big hurdle for social media—advertising. Every other platform relies on ads, which most consumers despise. NOBL allows content creators to charge a subscription for users who provide valuable content to their followers, eliminating the need for ads.
“All these advertising platforms are harvesting your data and selling it to third parties. I’d love to see advertising disappear, and BSV is the perfect answer with its micropayments that we’ve built into the app,” he noted.
Hula believes that building on BSV is a no-brainer. For him, “it’s silly that we have to have this conversation” about which blockchain network is best suited for global social media platforms. BSV “is the only one that works.”
Watch: The BSV Global Blockchain Convention presentation, Making it easy for creators to earn – using BSV blockchain
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