A Crypto-Style Policy Is Implemented On Elon Musk’s Platform To Combat Misinformation

On X, Elon Musk has chosen truth above sensationalism by excluding revenue sharing.

Elon Musk, a pioneer in the field of technology, has announced a major policy change on the X platform, bringing new procedures to prevent disinformation and sensationalism. These changes will have an emphasis on material connected to cryptocurrencies. This new policy states that “Community Notes,” the platform’s user-driven fact-checking function, would no longer count toward revenue sharing for postings that have been updated due to user feedback. It is hoped that by giving more weight to facts than to speculation, the crypto community would develop a more trustworthy environment for sharing and receiving information.

This policy modification was communicated by Elon Musk, executive chairman of X, in a post on the X platform on October 29. He highlighted that Community Notes, which are maintained by a community of fact-checkers, would exclude any misleading or incorrect entries that are “corrected” by them from income sharing. This is a preventative measure to reduce the spread of disinformation and sensationalist material, especially in the crypto industry where its effects may be far-reaching.

Musk’s choice to not include Community Notes corrections in revenue sharing is an effort to “maximize the incentive for accuracy over sensationalism.” This approach is indicative of a dedication to disseminating trustworthy information inside the crypto ecosystem and beyond in an age where falsehoods can spread like wildfire on social media.

The efforts to “weaponize” the Community Notes function would be rapidly discovered, Elon Musk said. This is because all data linked with Community Notes is accessible to the public and may be used to detect any improper behavior. The obviousness of the platform in this aspect discourages people from trying to game the system for their own benefit.

Members of the X platform community and the wider Crypto Twitter-sphere have reacted to Musk’s statement with a wide range of thoughts and queries. The inclusion of remarks supplied for context rather than only correcting erroneous information raises an important question about the scope of the policy. The difference between edits that fix mistakes and those that give context is a source of continuous debate on the site.

Some Community Notes contain helpful background information and are not always debunking or corrections, as Bitcoin Archive, a famous crypto-focused account, pointed out. A finance-oriented X account called “Not Jerome Powell” has proposed that Community Notes linked to memes or those offering hilarious context be considered for an exception to the revenue-sharing limitation.

Also Read: Singapore Is Working On Crypto Pilots With Japan, Switzerland, And The United Kingdom