LinkedIn Co-founder Eric Ly: Blockchain can help reduce fake news

Ly addressed the problem of fake news during the World Knowledge Forum in Seoul, South Korea, warning of the devastating effects it can have on society

The fake news phenomenon could be tackled with blockchain adoption, according to Eric Ly, a blockchain expert and Co-founder of LinkedIn.

“Despite the fact that that we depend on the internet and digital services for so much of our lives now, it is actually hard to trust the internet,” says Ly, who currently operates a blockchain-based trust protocol called Hub (Human Trust Protocol).

He adds that inaccurate information causes distrust, an issue that can be solved with blockchain by shifting the current “internet of information” to “internet of value”.

Blockchain’s immutable nature

“Blockchain has an immutable feature by which each new piece of information depends on the previous piece of information,” he explains. “Every piece is linked and every piece relies on the cryptographic security of the last piece.”

Blockchain makes it “impossible to change data already written on without affecting the data that comes next. And this idea of immutability would allow people to store things of value on the blockchain.”

Earlier this year, Ly also spoke of spam content and how it too can be fought with blockchain.

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