Gartner predicts that the majority of individuals in developed economies will consume more false than true information by 2022. While trust in mass media and established institutions is declining, the use of online social media to connect is rising sharply and it has become an important source for the distribution of digital deception. Researchers claim that although fake news detection could be a complicated process, the traceability of the data, the communications architecture, and the transactions, can be controlled.

That being said, blockchain and other Distributed Ledger Technologies (DLTs) are the rising technologies that can help to combat digital deception. These technologies enable privacy, security, and trust in a decentralized Peer-to-Peer (P2P) network without any central managing authority. In fact, as blockchain gains credibility, it is being piloted for uses never before considered. Groups, as varied as newsrooms, nonprofits, major corporations, and start-ups, are all eagerly pursuing the technology to create distributed, transparent networks for reliable media and digital information.

How does blockchain help?
The main issue about fake news is the rapid speed with which it…read more.

Hackers have started returning some of the $600 million they stole in what’s likely to be one of the biggest cryptocurrency thefts ever.

The cybercriminals exploited a vulnerability in Poly Network, a platform that looks to connect different blockchains so that they can work together.

Poly Network disclosed the attack Tuesday and asked to establish communication with the hackers, urging them to “return the hacked assets.”

A blockchain is a ledger of activities upon which various cryptocurrencies are based. Each digital coin has its own blockchain and they’re different from each other. Poly Network claims to be able to make these various blockchains work with each other.

Poly Network is a decentralized finance platform. DeFi is a broad term encompassing financial applications based on blockchain technology that looks to cut out intermediaries — such as brokerages and exchanges. Hence, it’s dubbed decentralized.

Proponents say this can make financial applications such as lending or borrowing more efficient and cheaper.

“The amount of money you hacked is the biggest in defi history,” Poly Network said in a tweet…read more.

Elon Musk confirmed both Tesla and SpaceX own Bitcoin during his discussion with Twitter CEO Jack Dorsey and ARK Invest CEO Cathie Wood today.

In his opening remarks at The B Word panel, Musk said he is ultimately a supporter of Bitcoin and cryptocurrencies despite his skepticism towards proof of work concepts. He said the only public stock he owns is Tesla, but the only “three meaningful assets” he owns outside of company stock is bitcoin, ether and dogecoin, and that he owns “much more bitcoin than ether or doge.”

In addition to his private holdings, he confirmed SpaceX also owns bitcoin. Musk made headlines earlier this year when he added $1.5 billion in BTC to electric vehicle firm Tesla’s balance sheet. Because SpaceX is private, it was previously unknown that the space exploration tech firm also had a portion of its holdings in the crypto.

Musk did not disclose how much SpaceX holds. The firm could wade further into crypto, though, according to Musk’s comments.

“Bitcoin by itself cannot be the monetary system of the world at the base layer, but at the second layer it’s possible depending on how it’s implemented,” said Musk.

He said SpaceX is “playing a role in this” vision for Bitcoin’s future, although he did not further clarify how the firm is furthering that mission…read more.

What seems to be a full reversal on a previously hostile Bitcoin stance is tempered by Mnuchin, who added that he still wouldn’t buy BTC himself.

Bitcoin (BTC) may be a “scam” for former United States President Donald Trump, but the former Treasury Secretary appears to have made a U-turn on the world’s first and best-known cryptocurrency.

Speaking to CNBC on Wednesday, Steven Mnuchin confirmed that his perspective on Bitcoin had “evolved.”

Mnuchin: Bitcoin stance has “evolved a little”
The Trump administration was known for its dismissive tone on Bitcoin in public, and those hoping for endorsement from Trump were ultimately left disappointed.

Mnuchin himself was less than inclined to offer support during his Treasury tenure, but his most recent comments reveal a clear softening of his stance.

“I think my view has evolved a little bit, but it is pretty consistent,” he told the network.

“The first part of it is I think the underlying technology of blockchain is really incredible and has lots of different things, particularly in fintech and finance. I think as it relates to Bitcoin — if people want to buy Bitcoin as a subsititute, no different from buying gold or some other asset — it’s fine.”…read more.