With nearly 100 newsrooms signing up, a new Blockchain based Journalism network – Civil, has flown open its doors.
On the first day of March in an official blog post, Blockchain-based journalism network, Civil announced its launch to the world.
Civil is a network for independent journalism that strives to develop an alternative model to support journalism. The project’s community has its native CVL token– the amount of which will be limited to 100 million– that purports to provide financial sustainability and improve trust in journalism.
Beginning March 6, users will purportedly have the ability to buy Civil membership, consisting of CVL which will represent members’ ballot power within the Civil ecosystem. “Thirty-four million Civil tokens will be priced by The Civil Media Company at $0.20 per CVL on March 6. Every token offered will set off a minor price boost up until the last token chooses $0.94 through a transparent, set and direct slope,” the post checks out.
The company will supposedly direct 100 percent of the net earnings to independent non-profit company Civil Foundation, that supports ethical journalism on an international scale. Apart from that, members will get a comparable variety of CVL to their monetary contribution to the Civil Foundation.
Within the launch, Civil will present two tools– the Civil Registry and the Civil Publisher. The first is an app that allows any newsroom to apply to be a Civil newsroom with the self-governing community. The latter permits Civil newsrooms to index verifiable data about their publications to the blockchain. Close to 100 newsrooms are apparently enrolled to team up with the platform.
Civil notes in the message that the recent development is not one more “token sale,” likely referring to their ill-fated initial launch, when the CVL token sale targeting an $8 million minimum did not do well last year. Civil reportedly raised only $1,435,491 in CVL tokens from 1,012 investors, even though an extra 1,738 buyers registered for the sale, but never finished the transaction.
Last August, Civil became part of a content licensing partnership with the Associated Press (AP), in which the AP would supply its content, including national and international news to Civil, to ensure that news agencies can get access to it on the platform.