Blockchain tech can enhance trust while it verifies the authenticity of digital assets, Global Blockchain CEO Shidan Gouran tells TechRepublic. The following is an edited transcript of the interview.
Dan Patterson: So let me play Devil's advocate here. How do you fend-off bots, or even humans, who are just on a site for insincere motives, or motives that are generated primarily by profit, and not a genuine interest in the content?"
Shidan Gouran: You can't really distinguish between a user who genuinely likes content, or a user who goes on, and creates a lot of content, to earn tokens... as long as they're not going against the system. So, part of the algorithm detects that, for example, this person, and these few identities, like the content, and the general population didn't. So, in the case of Vice Industry Token, they don't get penalized for this, but they don't get rewarded for it either. You could actually create systems, and this is how it will evolve, where they can actually get penalized for not following a norm, for example.
SEE: Quick glossary: Blockchain (Tech Pro Research)
So it's not a perfect system, in the sense, do we want everybody to follow a norm? But, it's a much better system than what currently exists today.
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Dan Patterson has nothing to disclose. He does not hold investments in the technology companies he covers.
Dan is a Senior Writer for TechRepublic. He covers cybersecurity and the intersection of technology, politics and government.