Platform tackles extremist views with blockchain technology

An interactive platform rewards its members with a unique cryptocurrency for honest representation.

The phrase ‘fake news’, whether used accurately or not, is creating a situation where any voice can claim legitimacy or call reliable sources into question. However, we’ve already covered innovations using either the blockchain or algorithms on Facebook to provide clarity to the situation, and now UK-based Ananas is looking to use cryptocurrency as an incentive for reliable knowledge-sharing.

Ananas is a charitable foundation whose main aim is to align the interests of disparate groups by encouraging knowledge diversity and combining honest discussion with reward. Users will contribute to an open-book platform where subjects and ideas are open to misrepresentation. As well as sharing knowledge, users can be rewarded by earning ‘Anacoins’, an ethereum-based cryptocurrency that can be transferred into other currencies. While users who wish to contribute content will initially have to buy Anacoins, they can earn more by having their comments and sources verified and by demonstrating supportive behavior, via voting from other community members. The company believes this will empower individuals and communities to map their own belief systems and will result in a structured framework of references and resources.

Additionally, users are further rewarded by having the value of the coin increase, as only a limited number of Anacoins will be made. Ananas’s first project is referred to as the ‘living Quran’ — a digital version of the holy text that scholars and community leaders will be able to provide commentary on. The content is available to anyone via a free app, with users able to filter information from certain groups, acting as a ‘map’ of knowledge across different subcultures and viewpoints, with the overall aim to prevent a misrepresentation of ideas and potentially fight extremism and Islamophobia. Anacoins are currently available through the ethical ICO (Initial Coin Offering) platform Chainstarter, with a current value of fifty Anacoins equal to USD 1.00.

The blockchain architecture behind bitcoin is already being used for myriad purposes, like preventing ticket counterfeiting. In what other industries could we see blockchain being utilized?