Coinbase CEO Brian Armstrong has announced the launch of what he's calling a "Fact-Check" via the company'southward blog.

In a Th post titled "Announcing Coinbase Fact Bank check: Decentralizing Truth in the Age of Misinformation," Armstrong expressed the firm'southward desire to gainsay untrue assertions aimed toward Coinbase and the crypto industry as a whole:

"We will use this section of the blog to combat misinformation and mischaracterizations virtually Coinbase or crypto being shared in the world."

The postal service was subtitled "Every tech company should go direct to their audience, and become a media company," which he suggested elsewhere in the piece isn't very difficult: "Whether traditional, social or corporate media, we're all only typing words on the net."

While the championship of Armstrong's blog mail article suggests that at some betoken in the future, fact-checking volition involve some class of decentralization. At present, the "fact-checking" simply consists of articles responding to what Coinbase deems as "misinformation."

In other words, Coinbase intends to put out posts expressing Coinbase's opinion on matters related to Coinbase and cryptocurrency on the Coinbase blog.

Some might argue the company already does this. Indeed the Fact Check department currently contains iv pretty standard blog posts: Coinbase's response to a negative New York Times commodity nearly Coinbase, the company'due south response to "misinformation" about Coinbase executives' share sales, as well as an opinion piece on Bitcoin's environmental effects and another on crypto'southward utilize in illegal activity.

Armstrong claims the blog will come to exist seen as a "source of truth."

"To become a source of truth, companies will increasingly need to be comfortable sharing facts which paint them in a negative low-cal as well. There is cipher similar sharing mistakes, to build trust."

Armstrong is famously balky to dealing with the media and, in 2020, claimed that company leaders are increasingly opting to connect directly with customers as opposed to engaging with mainstream journalists:

"Publishing to our own blog/Twitter/YouTube lets us say what is on our mind and talk to our customers — non go one quote in an otherwise counterbalanced (or sometimes outright mean/snarky) article."

Afterward in the post, Armstrong suggested that the visitor will become more proactive with content cosmos and may comprehend blockchain-based fact-checking in the hereafter:

"In the futurity, it will also likely move to more crypto native platforms, like Bitclout, or crypto oracles. Long term, the real source of truth volition exist what can be found on-chain, with a cryptographic signature fastened."

Some firms and news outlets have already begun experimenting with fact-checking and verification using blockchain.

In April 2020, Italian news publication Ansa unveiled a blockchain-based news tracking system to enable readers to verify the origin of whatever news appearing on any of the company's various media platforms.

In Oct 2020, Verizon launched a blockchain-based, open-source newsroom production that binds and secures the firm's news publications using "cryptographic principles." Nonetheless, the house noted at the time that "only text changes are currently tracked on the blockchain."