With a US presidential election scheduled for next month, fears of fake news have once again dominated public discourse. Fake news – the deliberate publication of false information that can be persuasive as true news – not only undermines public confidence in a free press, but also fuels social conflict and can lead to health risks (such as ingesting bleach in an attempt to avoid COVID). 19) Leads to extremism, undermines election integrity and manipulates markets. In short, fake news threatens the public trust we have in our institutions and in each other.

Common solutions today, such as fact-checking sites and AI algorithms, are only distributed after this fact – they are aimed at detecting already created fake news. The University of Arkansas Blockchain Center of Excellence has completed the ANSAcheck case study developed by Agenzia Nazionale Stampa Associata – Italy’s top news service – and Big Four Ernst & Young, an accounting firm that takes a different approach. ANSAcheck verifies the origin of the news and ensures that “the article came from ANSA.”

ANSA has suffered from fake news in the past. For example, in March 2020, there were at least three stories of COVID-19 fraud reported. Fake stories were circulated using the ANSA tag, form and signature. Examples like these prompted ANSA to launch the ANSAcheck project.

Stefano de Alessandre, CEO and CEO of ANSA, said:

“Fake news is one of the biggest challenges faced by traditional media organizations and social media platforms as it undermines the trust they have built among audiences and advertisers and undermines their strategic resources, namely their reputation.
The ANSAcheck project started in 2019. Giuseppe Perrone, Head of Blockchain Initiatives at EY in the Mediterranean, served as President of EY. ANSAcheck’s solution works by assigning a unique hash ID to each news article generated by ANSA and adding a hash function to Ethereum, the world’s largest public blockchain platform. If the message in the story changes, the system detects that it is not an exact copy of the original story. Story IDs are compiled and published to Ethereum several times a day. If ANSA updates a record, another record is written to the blockchain and linked back to the original record to form the parent chain.

Every ANSA story posted on the site is accompanied by an ANSAcheck poster indicating the authenticity of the readers. Readers can click on the ANSACheck poster to ask the blockchain where the story comes from. On October 6, 532,727 news from ANSA was posted on the blockchain. About 72% of ANSA readers clicked on the ANSAcheck Explanation tab to learn more about it, while 38% of people who actually viewed the article clicked on the poster to validate.

When users click on the ANSAcheck poster, the console viewer displays transaction details on the blockchain. Each story is assigned a unique identifier using MD5 encryption. In this example, the title of the story is “Johnson, I’m Still Fever, I’m Still Alone,” and the unique ID is “5b456347bf699bb9807b742e132c9120”. This entry was created on April 3, 2020 and the block ID is “AC202004031330”.

In the image above, users can see where the record is stored on the Ethereum blockchain. The entry was added to the Ethereum block number 9799299 on April 3, 2020 at 01:34:26 UTC. The unique hash transaction is “0xadc600195857be4f138b1a15b400ee4adf799cae462e3d6abaf1ecca8c52928d”. When you press the confirm button on the console, the application performs a real-time log check.

The first phase of the solution was rolled out in April 2020 using a smart contract. The smart contract reduces the risk of ETH price volatility by delaying the processing of new histories if the current Ether value is too high. EY also reduces transaction costs by combining multiple news items into a single transaction. EY originally produced a series of stories every 15 minutes with an average story cost of $ 0.06. Lately, EY has invested roughly 500-600 new stories every six hours, so the transaction value has dropped to about $ 0.006 per story. Ethereum’s costs led to the decision to reduce authentication times. ANSA stories usually appear in the news feed before launching on the website, giving EY time to register them on the blockchain.

In the meantime, EY manages a comprehensive service. The company ensures that its customers’ digital wallets are adequately funded with ether to avoid service disruptions, publishes stories on behalf of publishers, and provides analysis, execution and display of search results.

Source: CoinTelegraph