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Colorado Journalists Leverage Blockchain Tech in New Media Outlet Project

Journalism has seen a lot of criticisms over the years, with some news agencies alleged of being blatant with their biases in their reporting. And these egregious practices are criticized not only by the general public but by some journalists themselves who still believe that impartial reporting should be held as the golden standard in bringing news.

This is exactly what happened to former reporters and editors of The Denver Post. According to Cointelegraph, the journalists plan to create their own online publication after morale declined within the agency following a change in ownership.

The new owner of the publication, New York hedge fund Alden Global Capital, acquired the news organization when it absorbed The Denver Post’s parent company, MediaNews Group. After the acquisition, Alden Global then controlled the news agency through its subsidiary, Digital First Media.

Called The Colorado Sun, the new local media outlet to be run by the former journalists of The Denver Post will work together with Civil Media Company, a ConsenSys-backed blockchain startup. The partnership aims to leverage the benefits of blockchain tech where data is going to be stored in the digital ledger and funding will be provided by Civil Media.

The Colorado Sun wishes to be a community-sustained entity owned entirely by journalists, who will focus on “investigative, explanatory and narrative journalism,” according to its website. Moreover, ads will not be placed on the online newspaper’s site. Rather, the news outlet hopes to make its revenue with the help of local supporters who will donate to the efforts of the team behind the publication.

A Kickstarter campaign has also been launched for this budding news venture. The financial goal is to reach the $75,000 mark in the next month. The editors and reporters aim to fix the ever-growing list of major outlets that are beholden to advertisers and produce content based on the agenda of its shareholders.

Civil Media Company chose the Ethereum network to run on and will be driven by the organization’s native token, CVL. T

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November 16 21:00 UTC Released

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January 31 00:00 UTC 419576419576m

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