Reuters to Provide Fact-Checking for Facebook Amid 2020 US Presidential Elections

Published at: Feb. 12, 2020

In partnership with Facebook, Reuters has established a new unit tasked with identifying misinformation on social media. 

As Reuters reported on Feb. 12, social media giant Facebook’s Third-Party-Fact-Checking Program and the news outlet have jointly launched a fact-checking initiative in a bid to identify misinformation on social media. Specifically, Reuters will verify information posted on Facebook and Instagram in the run-up to the United States elections and after.

Checking user-generated information

Reuter’s dedicated unit will assess the authenticity of user-generated media files, headlines and other content in both English and Spanish. Commenting on the initiative, Jess April, director of global partnerships at Reuters, said:

“We are steadfastly recognizing the magnitude of misinformation taking place around the world. It’s a growing issue that impacts society daily and it’s a responsibility for news organizations and platforms to halt the spread of false news.”

The initiative was announced on the heels of Reuters’ passing the necessary certification by the International Fact-Checking Network (IFCN) on Feb. 7. Although Reuters is a well-established news organization that had previously produced fact checks, it has not yet produced them on a regular basis for a sustained period of time, wrote Michael Wagner, an IFCN assessor, in the conclusions and recommendations.

“It is the case that Reuters’ political and community activity policy will not be compliant with IFCN standards, but it should be noted that their policy is realistic and reasonable,” Wagner concluded.

U.S. elections dramas

It is no surprise that Facebook decided to perform fact-checking of information posted by users, considering that last year, Facebook found itself in the crosshairs of regulatory furor when Cambridge Analytica collected Facebook user data for roughly 50 million individuals without permission, to target them with personalized ads during the 2014 U.S. presidential elections.

In the meantime, the cryptocurrency and blockchain technology community lost a proponent and ally in the American political landscape, Andrew Yang. Yang, an entrepreneur and Democratic candidate in the U.S. 2020 presidential elections, suspended his campaign for president last night. Yang told supporters:

“While there is great work left to be done, you know, I am the math guy, and it is clear tonight from the numbers that we are not going to win this race [...] I am not someone who wants to accept donations and support in a race that we will not win. And so tonight I am announcing I am suspending my campaign for president.”

Tags
Related Posts
The Token Taxonomy Act of 2021: Preemption of inconsistent state laws
In these hyper-partisan times, any bill that includes sponsors from both sides of the aisle is noteworthy. There is one pending now that is particularly important in the crypto space. On March 8, 2021, H.R. 1628, the Token Taxonomy Act of 2021, was introduced by representative Warren Davidson. It was co-sponsored by representatives Ted Budd, Darren Soto, Scott Perry and Josh Gottheimer. Terms of the Token Taxonomy Act of 2021 Among other provisions, the bill would exempt “digital tokens” from the definition of security, and it would also preempt inconsistent state regulation. Crypto assets would need to meet certain specified …
Blockchain / March 14, 2021
RBC Analysts: Squashing Libra Could Boost China’s Digital Currency
Analysts at RBC Capital Markets have suggested that stifling Facebook’s Libra may leave the field open to China’s central bank digital currency (CBDC) to dominate in emerging economies. China shifts development of digital currency in extra gear On Oct. 15, financial news outlet Markets Insider reported that RBC analysts believe that once Facebook announced its Libra stablecoin plans, China shifted development of its own yuan-backed CBDC into the next gear. RBC wrote to clients: "If US regulators ultimately dismiss Libra and decide not to draft regulations to encourage crypto innovation in the US, China's CBDC may be strategically positioned to …
Blockchain / Oct. 16, 2019
US Rep. Kevin McCarthy Praises Bitcoin while Criticizing Libra
United States house minority leader Kevin McCarthy praised Bitcoin (BTC) while criticizing Facebook’s Libra stablecoin. McCarthy made his comments during an interview with CNBC on July 16. During the interview, McCarthy said: “I like Bitcoin. Is it where it needs to be? No, but the real thing I like when it comes to Bitcoin is blockchain, ‘cause I like the security. I want government to actually start using blockchain.” He also explained that his concern over technology companies joining finance is anticompetitiveness. McCarthy believes that companies entering the space are looking to create a centralized system while tricking consumers into …
Blockchain / July 16, 2019
Cybersecurity, Blockchain Firm WISeKey Acquires Interest in Data Infrastructure Firm
Switzerland-based blockchain, Internet of Things (IoT) and cybersecurity firm WISeKey has acquired a 22 percent interest in American data infrastructure firm Tarmin through a multi-million USD transaction, exact amount unspecified. The news was revealed in an official announcement from WISeKey on April 3. WISeKey focuses on creating digital identity ecosystems that implement blockchain, AI and IoT technology for people and smart device, while Tarmin develops scalable data and software defined infrastructure for high-volume data management and secure storage. WISeKey’s agreement to acquire a 22 percent interest in the latter had been signed in the fall of last year. The investment …
Decentralization / April 3, 2019
US Lawmakers Want to Brand Libra a Security, Association Disagrees
A couple of United States lawmakers are looking to classify stablecoins as securities. With Libra considering adopting fiat-pegged stablecoins rather than a single token supported by a basket of national currencies, the proposed crypto project might be facing yet another regulatory hurdle. Meanwhile, lawmakers sponsoring the bill say stablecoins should be classified as securities to protect U.S. consumers. If passed, stablecoin projects like Libra will potentially fall under the purview of stringent U.S. securities regulations. Critics of the move remark that such measures only serve to further dampen the country’s position in the emerging digital landscape. Some commentators have long …
United States / Dec. 1, 2019