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How the wisdom of the masses can ensure the authenticity of information

on May 04 at 05:08 AM

Many have questioned the wisdom of the so-called “wisdom of the masses” but there is so much truth underpinning the idea that masses make more accurate collective judgments than expert individuals.

The essence of the wisdom of the crowd is that the average judgment converges on the right solution. That as long as people’s decisions are independent of one another, collective decision-making is much better than that provided by individual experts. For example, by averaging together the individual guesses of a large group about the weight of an ox, the answer was found to be amazingly accurate than the guesses of cattle experts.

The notion that a group’s judgment can be surprisingly good was popularized by James Surowiecki in his 2005 book The Wisdom of Crowds. Surowiecki explained that wise crowds have three key characteristics.  First off, the crowd should be able to have diverse opinions. Secondly, an individual’s opinion should remain independent and free from influence by anyone around them. Third, each individual within the crowd should be able to base their opinion on individual knowledge. Lastly, the crowd should aggregate their individual opinions into one collective decision.

Using these inherent characteristics of the wisdom of masses,  Historia leverages the power of the crowd to record and authenticate information in the blockchain. Under the right circumstances, crowds are smarter and make better decisions. Indeed collective wisdom is near-impossible to beat and the collective judgment of a large group can compensate for the bias of a small group.  Historia, therefore, enables accurate recording of current events and future history giving everyone to take part in history gatekeeping.

Similar to the way Google allows Web page producers to vote on which pages are most worthwhile to be put at the top of search results by linking to them, Historia incentivizes users to submit and vote on content that is as accurate as possible. The principle is fundamentally democratic—every vote counts and each user has equal voting power.

When a user submits current events to the blockchain, all other users will have a chance to vote this record up or down. If the majority of users come to a consensus after researching the proposed record and determining that it is accurate, then the record will receive funding and be permanently added to the Historia blockchain.  The record will, therefore, become immutable and can neither be altered, edited, or deleted. Not only does this enhance the authenticity of historical records, but it also ensures that information is recorded in an uneditable manner to help prevent future censorship and bias.

Our goal is that by allowing the masses to record consensus-based contemporary historical records as it occurs, future technical historians can produce a more accurate record of history. The world can, therefore, have an accurate account of history that is based on consensus, rather than one restricted by the political will of a specific country, or media bias.

Right now you can get involved with Historia in two ways: become a miner of Historia coins or purchase HTA coins to start running your own Historia masternodes and own a piece of this revolutionary project.

To learn more about Historia, sign up for email updates on our website. To stay updated on Historia latest news and announcements, follow us on:

Historia Website

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Historia is a community project. The influence of any one superpower does not endure in Historia. The project is for the greater good of the global community with allegiance to no one except the everlasting truth of how it actually happened. If you would like to be a part Historia discussion, join us on Discord and let us know your thoughts. All spectrum of opinions and facts wanted, come all.

Originally published at blog.historia.network on May 03, 2019.

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