From the website, which calls it “an experiment to crowdsource and measure truth”:
We have all come across complicated issues that have so many opinions and facts that it’s hard to determine the right action to take.
What if there was a tool where everyone could come together and organize all we know and calculate how true or false a statement is.
As of June 2013, Truth Scale is still in the early stages of development. A live demo is available.
As of August 2013, development of this tool continues under the name SettleIt.org.