- Civil has announced that its platform will launch in February 2019
- This comes following their underwhelming ICO
- CVL token will continue to be sold and about 50 newsrooms will join the platform when it launches
Civil has announced that its media Blockchain startup is scheduled to launch in February 2019. This news comes despite their failed ICO.
Civil founder Matthew Iles said that he and the team behind Civil met and decided that more focus needed to be put towards journalism and that a restructuring of Civil was required.
The Civil ecosystem that is due to launch will help journalists achieve financial sustainability and remove bias in journalism.
When it was first launched, the CVL Token aimed to raise at least $8 million dollars. However, the ICO was underwhelming, raising only $1,435,491 from 1,012 investors.
Civil isn’t giving up, however, as they intend to keep selling their tokens on a recurring Basis but this time, without hard or soft caps.
This will continue until all 34 million CVL tokens are sold off.
The new profits will be used to support the Civil foundation and public journalism efforts worldwide.
Civil has also announced that it is offering two new tools- the Civil Registry and the Civil Publisher.
The Civil registry allows any newsroom to sign up to become a Civil newsroom. When a newsroom joins the platform, it will self-govern according to the Civil Constitution.
The Civil publisher allows the newsroom to store verifiable data for their publication to the Blockchain.
For now, only newsrooms using WordPress are allowed, but there are plans to open the platform up to other publishing services as well.
18 newsrooms have already joined Civil and another 50 are expected to join by February. Civil is hoping that by 2020, they will have over 1,000 new rooms of various sizes in their ecosystem.
Civil has also entered a partnership with Associated Press. Under this partnership, the Associated Press will release news to the Civil platform and through the platform, newsrooms can access it.
Overall, Civil seems to be paying more attention to furthering their journalism cause rather than tech.
“Civil was never about ICOs and tokens, or even blockchain. We’re about community-ownership, transparency and trust. We believe journalism (and media at large) should compete on craft, but collaborate on infrastructure.”