Fake News on Steroids: Deepfakes Are Coming

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While this concept may seem like sheer science-fiction to most, the WEF has added an entire session to its 2020 program devoted to deepfakes and the risks they pose to societies and political systems.

For a quick primer on why deepfakes are no joking matter, see this video in which Jet Li's face has been replaced by Binance CEO Changpeng "CZ" Zhao.While CZ was good-natured enough to retweet the light-hearted parody, he sounded a cautionary note that KYC and video recognition would be challenging to implement if this trend continues.

We're not in Kansas anymore....Open-source artificial intelligence algorithms are now enabling the creation of deepfakes at a staggering rate, meaning the "Fake news" controversies witnessed during the 2016 U.S. presidential election will seem like child's play in 2020.

There are two categories of deepfakes: malicious and non-malicious, better known as synthetic media.

We will almost assuredly see deepfakes of crypto-industry titans in 2020.

Like any technology, the underlying algorithms that develop deepfakes can be put to benevolent uses unlocking economic value and productivity gains, while enabling new modes of artistic expression.

Even prior to deepfakes, the modern world was experiencing truth decay.

With the rise of synthetic media and at-will deepfake creation tools, how will we learn to discern the truth?

Yes, we all remember 2018 when blockchain was the solution to every problem on Planet Earth and then some, but it will have to play a role here both in regard to timestamping deepfakes and facilitating the creation of a digital rights management layer - which would thus empower individuals to eventually transact with their face or voice data.

If we thought fake news damaged the trust in our society, deepfakes, if improperly managed, will do far worse.

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