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Applaud your effort. The Comment from dimodi9 does make sense. I would think long and hard about the incentive structure.

What do you think of initiatives like Steem?

The Problem of using the crowd to annotate the news is a secondary solution is good but having a source of truth is the final solution

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The route of community building is interesting and I can see many people following that. If you see the latest development at Biz Stone's Jelly, their vision is to make a trust score on users and build credibility. The challenge is how quick a community can respond. Fake news is growing like the snowball effect the more it spread on the social media the more it becomes a problem. We need to put a filter before we share the news inside our network - like a verified posting :)

One little push back, someone had to write the fake news for other people to share it.

Massive click farms and hate baiting are the issues that can be solved. Options like where the content originated from, who the writer was and why are they anon if so?

Tech solutions are a first approximation to solve this question. Deeper solutions require scale and some mustache twirling

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