Samit Singh and Dondrey Taylor, both from New Jersey were disheartened during last year’s presidential election to watch what they believed was the erosion of democracy. They witnessed a foreign power meddling in the election of the most powerful country in the world, and they were dismayed that this foreign power was successful in influencing this election.
Fake news was a problem in need of a solution, and the Decentralized News Network, or DNN, was the solution. The network aims to take advantage of the unique qualities of the blockchain to both make news decentralized, and to make news that is unbiased.
Currently, large corporations control all the major news outlets, and it is impossible for the average writer to publish a news item, and to have it seen by the general public. DNN solves this, any writer can submit an article for publication on DNN, and they will then be compensated with the DNN token.
To prevent junk from being published, there’s a peer review process, whereby a random panel of seven anonymous judges need to approve the news article prior to publication. Those who review the articles are also compensated in DNN tokens.
What this does is it creates a unique ecosystem, where writers are not compensated for how fast they can write, nor are they compensated for how biased they are. Instead they are compensated for quality and for being unbiased. Since no one truly knows who will be reviewing the article prior to it being published, they can’t slant an article to be liberal or conservative. Instead the focus is on writing news with the aim of being accurate.
You can learn more about DNN by reading the whitepaper. The whitepaper is a comprehensive review of the entire process, from the decentralization of news, to how the token will reward writers who strive to be both unbiased and honest.
DNN is currently in the pre-ICO stage, and will be launching the ICO in early March.