A central authority to evaluate the credibility or the truth is certainly the wrong way. To stay with the George Orwell references, I don't want a Ministry of Truth.
In my opinion, it must be a decentralized platform and all entries must be immutable and transparent. Only in this way trust in the platform can be gained.
Furthermore, verified identities are required for all voters.
I also dislike Facebook's approach to counter fake news with unknown correctional bodies and artificial intelligence. The involved persons and algorithms must be known. But if the algorithms are known they can be bypassed.
Musk should use Blockchain technology or a technology with similar benefits for his attempt. However I think he is more likely to use artificial intelligence.
Ohhhh, AI for this would be fascinating! Right now it looks like it will let the public vote on credibility, which could also go crazy wrong. I agree: a decentralized platform with immutable and transparent entries, plus verified identities, seems like the only way this could work to avoid bot voting.
But I wonder how an AI-led credibility platform would work?
(And great point about a central authority... We definitely don't want a Ministry of Truth.)