In Finance Fake News Can Cost You
WealthPipe Launches First Financial News Site That Rewards AccuracyArticles, Tweets & Comments Rated for Trustworthiness, Crowd-driven algorithms, and TRUTHCOIN (TRUS)
Nov 27, 2018, 09:29 ET
ATLANTA, Nov. 27, 2018 /PRNewswire/ -- In the last several years articles and tweets related to the White House, Tesla, Boeing, Apple and cryptocurrencies have caused moves that resulted in billions of dollars in market changes. Fortunes were made or lost based upon unsubstantiated news attributed to everyone from President Trump, to Elon Musk and Carl Icahn. We live in an age where fake news influences our lives, and our pockets. A new site, WealthPipe, has launched to solve the financial news credibility issue.
WealthPipe identifies what's reliable and accurate versus what's dubious and suspect.
Articles, tweets and comments display a Trust Score, (T-Scoretm), which makes it easy to view what's accurate. The color-coded scores range from 1-10 with 10 being most truthful and credible, 1 the least. According to WealthPipe their system works the following way; users view articles, tweet, or comments and score them via a slider for accuracy, those scores and other factors are passed into WealthPipe's algorithms and result in their T-Score. Users can then view items by score, category or popularity.
What are these 'other factors' and how do they make sure this isn't a popularity contest or overrun by outside influences? According to Darius Hatami, COO of WealthPipe, "Our algorithms use collective intelligence for the main input, however we also consider user level and expertise, and utilize bias and anti-bot/spam detection to deliver a score that's a better measure of accuracy than anything we've seen out there. Trust is a human endeavor but that doesn't mean technology can't help out."
Additionally, WealthPipe is launching TRUTHCOIN (TRUS) which unlike many cryptos is based on important criteria; trust and credibility. Users are rewarded on input levels and receive an accuracy rank bonus. This feedback mechanism incentivizes raters and assures data quality. In short, the more accurate users are the more they're rewarded and the more accurate the site becomes.
WealthPipe is new but their system's logic is not. Their team, veterans of fintech and academia began developing the idea before 'fake news' became what it is today. They've back tested data and refined their machine learning based algorithms. The first to market product is unique, with a new version slated for q1 2019.
Truth can not only set you free but WealthPipe hopes it can also make you money.
Contact:
Darius Hatami
212-365-0669
[email protected]
SOURCE WealthPipe