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IsItDebunked x Satoshi Club AMA Recap from 18th of February

Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from IsItDebunked and our guest was Sophie Morris, Co-Founder of IsItDebunked. The AMA took place on 18 February.

The AMA session was divided into 3 parts with a total crypto reward pool of 500$

In this AMA Recap, we will try to summarise the most interesting points for you.

Part 1 — introduction and questions from the Telegram&WebSite

Mary | Satoshi Club:
Hello Satoshi Club! We are happy to announce our AMA session with IsItDebunked! Welcome to Satoshi Club $DBNK:
Thanks for having us Satoshi Club!

Mary | Satoshi Club:
@IsItDebunkedDBNK welcome to Satoshi Club

Could you please introduce yourself and tell your story behind IsItDebunked? $DBNK:
Hi, I’m Sophie Morris. I helped found IsItDebunked Ltd. After working with various media companies over the years on campaigns for marketing and found that a lot of information that comes out to the public is debatable yet not open to debate.
After meeting our chief of operations at a crypto conference we discussed this idea to create a social fact checking platform and finally it’s coming to fruition.

Mary | Satoshi Club:
Wow, I like this idea! When did you start your project? I see, that officially in January 2021? $DBNK:
We started building the plan and design early last year. Incorporated the idea of a tokenised reward system in August. Incorporated the company earlier this year with the dbnk token.
Yes. Went official in January.

D. | Satoshi Club:
Very nice! and how many people in your team? $DBNK:
Currently 7 members. But also sub contractors of 3–4 developers from Huzz Digital.

Mary | Satoshi Club:
Not so small team $DBNK:
So-so. We will need to be much larger to cope with the demand once the platform is live.

Mary | Satoshi Club:
Do you all locate in GB or all over the world? $DBNK:
5 of us in the UK. 2 in Hong Kong.

Mary | Satoshi Club:
International team

D. | Satoshi Club:
And decentralized

Mary | Satoshi Club:
Thank you for your intro! Do you want to add something or we can go to the questions from our community? $DBNK:
Will become more decentralized as the situation becomes larger. We want the community to help us build the project upwards with it becoming a form of decentralized Snopes so to speak. Nothing that we can think of here. We can go to the questions I think…

D. | Satoshi Club:
Let’s do this, then!

thank you for the intro!

Q1 from Telegram user @KevSalom
It was really hard to find information about IsItDebunked to prepare for this AMA. The only place where I found more or less information was on a bitcointalk forum, because unfortunately your website is empty. The website is the letter of presentation of a project. Why have you advanced in other things but neglected this? You don’t have a whitepaper either. When will you publish it? $DBNK:
Thanks for the question.
If this was asked prior to the recent adjustments to the testing of our platforms you would have found further information about the project itself and the whitepaper, we have a copy of the whitepaper in both English and Chinese if anyone is interested.
It can also be found here.

D. | Satoshi Club:
But as I see, I have to register there to read the white paper?

Mary | Satoshi Club:
Bitcointalk is old school now

but it doesn’t mean that it’s bad) $DBNK:
Is that so. If that’s the case. We will collect it now and send the PDF copy here, is that ok? Forwarded copy from our channel

Mary | Satoshi Club:
Your Whitepaper looks nice! I think @KevSalom should be able to read it now

So, did you think that all info about your project should be easily available on your website? As other projects did, or you have a reason for this? $DBNK:
We did originally have all information about the token and project on the website during the private and public sale. Then after launching on Lbank we discussed with the private we have been making large adjustments and getting these users testing some areas or their logins and profiles that aren’t visible on the website to the public currently. We will be adjusting the website back to normal in the coming days with the various project information and a built in platform to exchange DBNK/DBNKUSD/ETH whilst carrying on with building the platform in the background.

D. | Satoshi Club:
Q2 from Telegram user @reinleoken
We earn $DBNK by helping create a counter argument and evidence based fact checking system. My question is what sort of argument are we creating a counter for, is it blockchain adoption arguments, gold vs Bitcoin, or sports or politics? And how soon before we see Bitcoin listed on other platforms except the already listed Uniswap? $DBNK:
So yes. This is not purely about cryptocurrencies or Blockchain or politics. This is about counterarguments for everything news and information related. So yes, for example something could be released like, “BCH is the real Bitcoin” and then you would have the BTC Vs BCH people counter arguing the situation but more importantly would be the political debates, sports debates, conspiracies such as aliens and the moon landing, etc.

The most evidential information is most rewarded.

And I would assume the question should have been before we see Debunk listed elsewhere, we are. The main exchange to trade Debunk token is through LBANK but only uniswap to trade between DBNK with DBNKUSD and other fiat backs that will be created and released officially in the future

Mary | Satoshi Club:
Could you tell us how this process of counterarguments will be organized? $DBNK:
The application on Android and iOS will have sections of different categories to choose from whilst also having the main screen with a tinder style layout with news or data headlines and you either swipe left to ignore, swipe right to start debunking and providing information.
This information is then congregated onto the database of that relevant news or data. Which will be accessible to see this information on the website or through the app inside these areas.

Mary | Satoshi Club:
Clear and easy

when do you plan this app to go live? $DBNK:
We plan to test to be out in June. Actual release planned for July in line with our huge marketing campaign we have designed. Warning, deepfake videos may be used heavily. We will be helping people spot deepfakes. They can also be very dangerous if used in bad ways without disclosure that it is fake. We will all be aware that it is all done with deepfakes.

D. | Satoshi Club:
Q3 from Telegram user @AmirJosh
I backread the conversation on telegram and it came to my knowledge that DBNK Presale just sold approx. $35,000 USD and the public sale that was held on Bounce has no token sold at all. How did your team survive those unfortunate events and who is financing the project up until now? Does IsItDebunked give back enough profit to continue advancing the project? $DBNK:
Of course.
A reminder that people who dislike someone could use them to disrupt a marriage or something by faking a cheating video or whatever.

Too much harm can be done.

Mary | Satoshi Club:
I won’t lie, I like to laugh at such videos also, but it’s funny exactly till that moment when it’s not at all funny. When it starts to influence our lives $DBNK:
Yes, this was a situation. We had enough capital between the founders plus with the addition from the private sale and the nothing from bounce finances public sale we still found we had enough of minimum capital to be able to afford for approximately 9–12 months of running costs.
Our team are all being paid with shares and partially with tokens n the business themselves. The platform itself will generate profits once the amount of data is collated and the users start exchanging their tokens inside of the platform itself.
Fees etc.

Mary | Satoshi Club:
You don’t waste it. Some run out of money in a few weeks. $DBNK:
Not good. Budgets are important to follow

Mary | Satoshi Club:
But you need to have a lot of users to generate profits

How will you incentive your community to use your platform? Do you have a marketing plan? $DBNK:
Yes. We have a huge marketing campaign planned out in line with actually releasing the platform.
Spoiler alert, some random celebrities are going to be coming out as flat earthers or other conspiracy theorists and then it is going to be debunked through our platform

And not necessarily. Quality over quantity with users is equally important. A thousand users who contribute nothing is not as good as hundred insiders contributing information.

D. | Satoshi Club:
Q4 from Telegram user @sirdefi
What is the role of $DBKN token in IsItDebunked? Fees, governance? Do I need to own some in order to participate in the verification process? $DBNK:
No. The role of DBNK (Debunk Token) is the main token of our ecosystem.

The Debunk token will be used to reward users but also for users to gain access to more content and information/data for their thesis etc. We believe that the information that will be stored against our token will become valuable, especially if there is a purge of information taken offline and future generations won’t be able to see all sides of stories and make their own informed decisions. Governance will be done as a community to make decisions on future developments.

Mary | Satoshi Club:
Don’t you think that it’s 50/50 and info should be free now? It means that i partially understand your position $DBNK:
Yes, we believe most information should be free but answers to some serious questions are valuable.
The price to find out certain things is beyond monetary value. It’s more of an incentive for those who provide that information online to be rewarded for it themselves.
So in theory it will be paying for that person’s information that they provide.
Signing up to various users profiles and they charge outwards.

D. | Satoshi Club:
Q5 from Telegram user @rioliandaro
Regarding your vision and mission, to realize FACTUAL news and prevent HOAX news. As we know, currently there are lots of hoax news that have a negative impact on society, especially the younger generation. Then, how can ISITDEBUNK minimize and prevent hoax news? Can you share some tips with us, what simple actions we can take to avoid spreading hoaxes and not easily fooled by hoax news? $DBNK:
Great question!
Ok, so you’ll find that a large proportion of news in this 24-h news cycle is rushed out to the public with no facts backing it and usually it tends to be debunked within 24–36 hours.
Best ways to do things are checking the headline against the actual information that is on the report. You will usually see a big difference in the information and it’s a form of click bate to get people sharing without actually checking the information it contained.
Compare this information against lesser known sources and see their opinions expressed about it.
If it’s mentioning documents. Go to the relevant document itself and see for yourself what it is actually saying. You will usually see that the information that’s given to the public isn’t always in line with what the report actually says. We can help minimise the spread by helping people actually be allowed to discuss the information without fear of prejudice or attacks on the matter.

We won’t be allowing any discrimination to take place for even the stupidest of questions made by users.

Mary | Satoshi Club:
Btw, do you think if it’s possible to bring distributors of fake news to justice? Because, as i understand with your platform it will still stay as a fact statement. While the fake will already be distributed to the maximum. $DBNK:
We will make people aware of them and that will be just as damaging for their reputation.
Then repeat offenders will have to either stop working on news distribution or actually start writing real news. Except if they admit it is satire like the Babylon Bee. That is equally fine.

Mary | Satoshi Club:
It’s a way

I know that is a more philosophical question because I face fake news every day in my country and most people better believe them, than go and check facts. $DBNK:
Yeah, that’s the case across the whole world. A large proportion of information is usually recycled or pure misinformation.
We see it in the Blockchain world also with similar stories every so often about XRP issues or work with the same banks as they always have.
And with tether continuous FUD movements.

Mary | Satoshi Club:
Yes, that’s true! Hope you will help us with these issues! And we will have 6th and last question from this part now! Ready for it? $DBNK:

We all need to help with this issue together.

D. | Satoshi Club:
Q6 from Telegram user @Korryl
I read that your project has a trading contest with big reward 600.000 DBNK, so what are the requirement to join in that trade contest, and do we need to do KYC? And also do you have other programs for the community like DBNK airdrop or bounty? If yes what kind of airdrop/bounty? $DBNK:
Yes. All the entry information is on the Lbank website with this. Signing up and performing KYC is required for entering the contest.

And regarding airdrops, we don’t have anything else currently. We just finished a 12ETH Liquidity mining competition though. We will be looking at doing more USDT and some DBNK contests in the future but we try and avoid too many users getting DBNK for free, especially those who have no interest in furthering the project. After analyzing a large number of issues occurred with airdropped and bounties being given on a large scale.

Very damaging

Mary | Satoshi Club:
But on the other side, you’re increasing holders number

Even in damaging things we can find good sides $DBNK:
Yes, that’s very true but as before. Quality over quantity. It’s getting that right balance. A hundred users getting $5 worth is no issue but too many that don’t care for the project itself isn’t the best scenario to have to hold back.

Mary | Satoshi Club:
You’re right! Sure you will find a balance! $DBNK:
Indeed we will.

Mary | Satoshi Club:
And for balance we have to gave a voice right to our members

They’re waiting for live part of our AMA

Ready? $DBNK:

Part 2 — live questions from the Telegram community

Q1 from Telegram user @ Cengizhan Tekin

In IsItDebunked system; the users with the most well-contributed information will be rewarded. So who will decide who contributed the best information? If it is a group constituted by you, how will this group suffice after some point where too much news comes in? If it is all the community, how will you prevent the manipulations until you have a sufficient number of community members that can’t be manipulated? $DBNK:
This is a great question which we have spent possibly 30–40 hours of thought against and we have started to work with a couple of media organizations who believe in free speech who are willing to go through and help us with checking that the information provided is good and should be rewarded. We have ai that will help mitigate the issues of adult content and NSFW inform sent through.

Q2 from Telegram user @ Tuvalunia

Are you planning to provide multilingual content or will you just focus in English? $DBNK:
We will be aiming to have all languages available very shortly after release in English. We want to contribute from all corners of the earth

Q3 from Telegram user @ Raisbelys
What are IsItDebunked’s objectives to be achieved in this year 2021? What is the mission/vision of the project in general? And in how long do you think you will achieve these goals? $DBNK:
Our objectives to achieve by the end of this year are: Release the first initial platform. Bring the user base to over 20,000 users with over 250 good contributors of debunking information.
Release all DBNK stablecoins (DBNKUSD, DBNKGBP and DBNKCNY with backing by their respective fiat currencies) ready for the 2022 debit card release.

Q4 from Telegram user @ GNUD

Can you indicate a feature or feature that you like best about the platform so that it can compete with other competitors? What are you most confident about for your platform? Do you have plans to get users to choose your platform? $DBNK:
The feature we like the most is our vision of free speech allows the craziest of conspiracy theorists to know they won’t be attacked for their thoughts and opinions. It may not get rewarded if it’s not useful but they won’t be attacked for it either. This is key for furthering free speech whilst helping curb misinformation.

Q5 from Telegram user @ Johnny Short

Where can I buy? $DBNK:
You can currently buy on Exchange.
The liquidity on Uniswap is being adjusted over the next few days to account for the DBNKUSD pairings etc.

Q6 from Telegram user @ Angelo Salas

Researching about IsItDebunked, I could see that your company is registered in England and Wales. My question is, does the fact that your company is registered in that country give your project any kind of advantage? Are there any plans to expand your company to other regions of Europe or the world? $DBNK:
Yes. We are an English company. But this doesn’t deter the fact that the business is online and we will be registering in various countries where we employ or do work over there.
We will be expanding to some offices in America in 2022, just looking at some proposals currently.

Q7 from Telegram user @ Impostor

DEFI is really popular this year in 2021, do you have plan to add new feature like NFT, yield farm or maybe staking program for IsItDebunked project ? $DBNK:
We were actually asked if we could produce some Media NFTs by some individuals and we thought this might be an interesting concept. Such as fake news memes or other images.
We will discuss this further going forward with the community if we see this to be a reasonable proposal.

Q8 from Telegram user @ Centos Manager

How do you plan to grow your community and do you listen their wishes? $DBNK:
We plan to grow the community by building upwards with the community every step of the way and ensuring that it is created in such a way that the community will help mold and develop the future directions, obviously no rash decisions made by a random community member will be acted upon without due diligence and in depth discussion.

Q9 from Telegram user @ Aston Rowi

How can I use DBNK token on the apps? What are benefits/rewards will I get if I hold DBNK?
@IsItDebunkedDBNK $DBNK:
There is currently a 50% APR staking reward via Lbank for holding DBNK

Q10 from Telegram user @ Gutierrez04

Really users who contribute to the ecosystem will be rewarded with $ DBNK, but could you detail to us what are the ways in which we can contribute? And which is the one that generates the most reward of them? $DBNK:
The most rewarding way would be the contributions of videos proving the information to be false or legitimizing it.
The lesser rewarding jobs would be finding spelling errors and poor grammar. Putting bad marks against writers names and getting them to improve that side of their reporting.

Part 3 — Quiz Results

As usual, for the third part, Satoshi Club Team asked the chat 4 questions about the crypto project. A link to a Quiz form was sent into the chat.

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