Frequently Asked Questions
Contact us if you have a question you can’t find the answer to.
+ Is Verifact owned by any major media company?
No. Verifact is an independent organisation.
+ Will Verifact be free to use?
Yes, you can use the app for free. If you wish to vote, you will need to stake Ethereum tokens.
+ When will you launch?
We are aiming to launch by the end of the year. Sign up for early access to be notified.
+ Who decides what is factual?
Users have to stake Ethereum when voting, and the "winning" side will receive the stake of the "losing" side. This means that when someone stakes tokens, they will want to make sure they are voting for the "winning" side. The losing side also has an opportunity to dispute the result if they pay a fee, which opens a new round of voting to allow more time and discussion.
If a consensus can't be reached after three rounds, our team of trusted advisors will make a final decision. Verifact will have a transparent unaligned fact checking team to make these final verdicts as necessary, based on available factual information.
+ Will there be a Verifact ICO?
There will not be a Verifact token sale. It's not necessary for what we're trying to achieve because our system can work on votes which stake Ethereum directly.
+ What about statements which are factually correct but are intended to deceive?
We'll have multiple levels of classification to deal with this problem. The simplest (and worst) category is making provably false assertions. Another category is assertions without any evidence. Solving these first two categories will be a huge achievement and is a big step towards the goal.
Other categories are more contentious. As the network develops, predictable standards and protocols will be formed to make more granular decisions as desired by the community. Examples of categories could include various fallacies, straw man arguments, unethical use of anonymous sources, hyperbole, and ad-hominem attacks.