From the New York Stock Exchange Studio, Paul Brody, Principal and Global Blockchain Leader at Ernst & Young (EY), appears in a special Business of Blockchain series with New to The Street TV Host Jane King to discuss the work that EY is doing to help the media fight fake news. As Brody explains, Agenzia Nazionale Stampa Associata (ANSA), a leading news agency in Italy, approached EY for a solution after noticing that some of their articles were being altered and made to appear authentic. Today, ANSA articles are run through an EY system that hashes them on the blockchain. According to Brody, “Hashing is very clever because if you put information into this little mathematical algorithm, it pops out a number. And if you change even one letter in any of that information, it turns out to be a completely different number. And if you put the original output on a public blockchain that cannot be tampered with, then you have this permanent record of what the original article said. You can go back and compare it at any time, and you can be certain that what you’re reading is the original source information.” ANSA readers can click an “ANSAcheck” label that appears with an article to verify the content’s authenticity. “The feedback on this has been very positive,” says Brody. We get hundreds of thousands of verification checks going through the system. So, we know people are checking these articles from time to time.” Paul and EY are looking to expand smarter and simpler tools, utilizing the blockchain that can enhance their clients’ abilities to streamline and accelerate their businesses. Bitdeer Technology Group, Inc. (NASDAQ: BTDR) ($BTDR) (“Bitdeer”) sponsors New to The Street’s “The Business of Blockchain” segment. The on-screen QR code is available during the show; download or visit Ernst & Young Global Limited (EY) – https://www.ey.com/en_us.
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