LKS Foundation

Founder Junior

LKSCOIN in the front line in the fight against fake news

2021-06-03 12:55:57

A cryptocurrency with an ambitious project: to make the internet a fairer and, above all, safer place. Discover the strength of LKSCOIN

Although for several years only a few "insiders" were passionate about the blockchain, a wider and more varied audience has recently started to be interested in this technology.

The blockchain, in fact, is gradually emerging and being discussed in various fields, such as the financial and the medical field, but also in the entertainment industry and in many other sectors, thanks to its ability to introduce new solutions to the needs of businesses and institutions. 

This is because the blockchain is also able to address some ethical issues that do not always (or, immediately) find an easy solution in the wide panorama of digital innovation. In this respect, this technology addresses such topics as transparency, accountability, community and decentralization.

Thanks to its extraordinary and innovative reach, LKS Foundation is actively committed to the dissemination of the blockchain culture, spreading awareness of its value and potential. 

In fact, for quite some time now, the Foundation has been directly involved in the LKSCOIN cryptocurrency project, which supports a secure, traceable and decentralized remuneration system for digital content creators (such a system is already operational within the Cam.TV platform). 

But the project doesn't stop there.

Its aim is to develop LKSCOIN by creating a Non-Fungible Token or NFT to counter fake news and secure copyright protection over digital content. 

LKSCOIN: a cryptocurrency at the service of its users

The LKSCOIN project foresees the creation of a Non-Fungible Token to exploit the potential of the blockchain in order to protect online users by fighting against disinformation and fake news. At the same time, the project intends to use the blockchain to encourage only the sharing of pieces of information which are guaranteed and protected by digital copyright.

In this ecosystem, the digital content, the ownership of the content and the identity of the source are linked together and registered according to the fundamental principles of the blockchain, i.e. through a unique and irreversible transaction. 

This is possible thanks to a particular type of non-fungible tokens (NFTs) that are able to combine the following elements in a single transaction:

  • the identity of the person who carries out the transaction in the blockchain to "deposit" information/content through a Know Your Customer (KYC) procedure;

  • the date and time of creation of a specific piece of content, as a temporal proof of its existence to protect the creator against any subsequent plagiarism;

  • the digital content itself, with the reference url of the platform on which it was originally published (for instance, Cam.TV);

Thanks to this process, the blockchain is able to serve as a custodian of the unique existence of a piece of information or content published in this way. So it is possible to uniquely and irreversibly trace both the initial transaction, generated when content is created, and the creators themselves, thanks to the KYC procedure. 
In this way it would be possible to tackle the delicate issue of copyrighted digital content which is shared and dispersed within social networks and platforms without any  protection tool for the respective owners and creators. And the new ecosystem described above would also support the establishment of an online network where information is safer and more reliable.

The fight against fake news thanks to NFTs 

The credibility of information which circulates online has been seriously undermined by countless hoaxes and misleading news that are shared without control and that spread rapidly by finding fertile ground on the internet. 
At the same time, users do not have adequate tools to deal with fake news, except for their own critical thinking and desire to explore specific topics, which, unfortunately, are often too complex to be mastered.
The application of the LKSCOIN Non Fungible Token to protect digital content, however, would open the doors to an increasingly responsible market for digital information
Thanks to their ability to trace authorship, NFTs would force those who plan to manipulate information for their own advantage to be liable for what they share online.
Hence, lying is discouraged: thanks to the use of the blockchain, every hoax can be traced and proved wrong and the person who has distorted the information can be tracked down. 
Moreover, this process of indissolubly linking owner and content would represent a valid incentive for all players of the information market, such as journalists and bloggers who publish news based on other sources. 
These subjects, in fact, would be increasingly incentivized to rely on news that is certified through an NFT because this would make the original author liable for the accuracy of the information itself.

These days, an important initiative, led by Cam.TV, for the integration of NFTs in its platform will start. 

For more details about the project, we recommend you visit the dedicated official page: