Civil, Blockchain Journalism Project Set To Launch In February Even After Poor Token Sales

In a bid to improve trust in journalism and help journalists become financially independent, Civil started a project. The platform is based on blockchain technology and it focuses on creating a new and improved environment for the media. The native token of the blockchain is the CVL token. It is this token that will help users have financial independence.

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Today, the company announced that it is going ahead with the launch set for February 2019. This is rather surprising since the company failed to meet its target of $8 million during token sales this year. After the token sales, TechCrunch reported that civil was able to raise only about $1,435,491 in CVL tokens. About 1,012 investors pledged their support for the project while 1,738 buyers who registered did not complete the transaction.

The company announced that it will most likely resume token sales again. This time, there will be no soft caps or time limits. The tokens will continue to be on sale until all 34 million tokens are sold out to the public. Apart from generating funds from token sales, the company will introduce two new tools. One is the Civil Registry while the other is the Civil Publisher. The Civil Registry gives any interested newsroom the opportunity to apply and become a self-governing Civil community. The Civil Publisher will be used to index verifiable data concerning the Civil newsrooms on the blockchain.
Civil also stated that it has about 18 newsrooms that have signed up to join its organization. By February 2019, the company expects to have 50 extra members. The company has also made plans to add about 1,000 additional mid-size newsrooms to what it currently has by 2022.

A few months ago, Civil entered into a partnership with the Associated Press (AP). The goal of the partnership is to give Civil access to national and international content from AP. News agencies will be able to access this information on the platform. If Civil is able to gain mass adoption, it might be taking the lead in changing journalism for the better.

Civil Isn’t The Only One Interested In Blockchain Media

This month, AT&T, American telecoms giant, applied for a patent for a social media history map that will be based on blockchain technology. The system will include a controller for transaction history, and one for storing publisher data that can be used on different platforms. There were many use cases listed on the patent such as developing and sharing career interests, information, and ideas via virtual networks and communities.


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