A public good refers to a commodity or service that is made available to all members of a society without restriction and without having to pay for it individually. This type of good has several important characteristics, including non-excludability, non-rivalry, and the absence of market inefficiencies.
The UNESCO World Press Freedom Day theme for 2021, “Information as a Public Good”, serves as a reminder of the importance of reliable, trustworthy, and accessible information in today’s society.
The concept of information as a public good is a central tenet of Fact Protocol’s mission. Just as public goods, such as clean air and water, are essential for the well-being of society as a whole, access to accurate and trustworthy information is equally critical for the health of our democracies and for promoting transparency and empowerment.
Fact Protocol as a Public Good
Fact Protocol can be considered a public good because it addresses a critical problem facing society today: the spread of misinformation and fake news on the internet. With the democratization of information that has come with the widespread use of social media and the internet, it has become increasingly difficult for people to discern credible information from false information. This can have serious consequences, such as causing confusion, mistrust, and even harm. Misinformation can be used to manipulate public opinion, influence elections, and even incite violence.
Decentralization & Tech Stack
By providing a decentralized and community-driven approach to fact-checking, with a decentralized fact-checking system, Fact Protocol aims to build trust in the information and make it more difficult for misinformation to spread. The use of blockchain and other advanced technologies such as AI, machine learning, and deep learning help to ensure the accuracy and reliability of the information being shared.
In this sense, Fact Protocol operates as a public good because it provides a valuable service to society by mitigating the spread of misinformation and fake news. Moreover, since the platform is decentralized and community-driven, it operates outside of the traditional systems of power and control that often limit access to information. This can help to promote transparency and accountability, as well as increase public trust in the information being shared.
Summary
Fact Protocol can be considered a public good because it addresses a critical problem facing society today by providing a valuable service to the public. Its decentralized and community-driven approach ensures that the information being shared is accurate and reliable, and it operates outside of traditional systems of power and control.
References
UNESCO’s International Programme for the Development of Communication (IPDC): The link between information and the public good, in the words of Nobel Prizewinner Joseph E. Stiglitz. [VIDEO]
UNESCO: World Press Freedom Day 2021 “Information as a Public Good” [PDF]
UN DGC: World Press Freedom Day 2021: Information as a Public Good