Our mission statement
Verifact exists to bring reliable and unbiased fact checks to the public and to keep news sites and journalists accountable for factual reporting.
We aim to solve this problem with our upcoming web application which let's users vote on the factuality and accuracy of news stories, news companies and individual journalists by staking Ethereum towards the verdict that they deem true. If you stake Ethereum on the label that is deemed factual by the network, you will gain more tokens from those who voted opposite to you. This, along with a dispute mechanism for making final decisions, creates a system where everyone is incentivised to vote for what is factually true.
We will have a transparent and unaligned fact checking team to give final decisions if no consensus is reached within a reasonable amount of time. This will counter manipulation and keep the system unbiased in it's early release. More details on the proposed incentive scheme will be announced in the upcoming whitepaper. We aim to make the process as simple as possible, and it will be fully transparent to ensure maximum objectivity.