The FACT network is a new blockchain with a token-based incentive mechanism for a decentralised global information verification system and database network. The FACT network aims to solve various challenges the information industry faces today.
Firstly, tokens on the FACT blockchain will be used as an incentive to encourage individual users to share their information with organisations for verification. This will improve the quality and the relevance of the verified content while accelerating disinformation detection and response.
Secondly, with sufficient network density, the majority of dubious claims could be handled, reducing significantly the possible spread of disinformation.
Thirdly, by involving all the disinformation actors within the same ecosystem, the FACT network will facilitate the dissemination of verifications rather than disinformation.
More importantly, by introducing tokens to enable a multi-level incentive mechanism the FACT network allows organisations to drive revenues and possible new revenue streams while focusing on producing content tailored for their audiences.
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