Decentralized civil journalism has declared $5 mln in funding from blockchain technology. However, the new blockchain platform said that it decides to keep half the funds aside as a capital. Meanwhile, the other half will go towards building out its services.
According to Matthew Iles, Civil founder, the base aims to develop a “self-sustaining” marketplace for journalism. Therefore, which is “free from advertising, fake news, and outside influence”.
Further, he explains,
“By providing the economic incentives and governance structures for newsmakers – writers, editors, photographers, fact-checkers – to self-organize, Civil offers a new business model for journalism”.
The plan of a project as a self-governing marketplace in which users can directly patron newsrooms. Hence, journalists can team up to run their own publications.
Furthermore, also aiming to protect journalist against censorship and intellectual property disputes. Initially, the plan od Civil is completely focused on local news, policy and investigation reporting.
Significantly, Civil will launch its new platform and the own token sale in 2018.