Monday, June 17, 2019

Journalism Innovative Platform Civil Fails To Create Hype; ICO Flops

Journalism these days is a difficult thing to handle. Being carried by information behemoths and cartels, the information flow is controlled from beginning to end, and most things available have already been adapted for mass consumption. This whole situation led to some journalist to break apart from the mass media and start an interesting initiative called Civil to fight centralized and paid press with grassroots, down to earth publishing.

Civil is a project that seeks to decentralize journalism and shift from the big power blocks to independent, little newsrooms that are not tied to any editorial opinion. But sadly, it seems that this idea failed to gain traction. In a Medium blog post, the people behind Civic has announced that the Initial Coin Offering directed to raise the 8 million dollars needed for its funding was a failure. They did not raise the accorded sum of $8 million that they established as a goal when the ICO was proposed.

However, for the Civil team, there is nothing wrong with this, and they have announced a new Initial Coin Offering already that aims to correct all the different problems and mistakes that they committed in the earlier sale. For buyers that had invested in the first token sale, there are two choices: a complete reimburse of their money, or to put these funds to support the second token sale that, according to statements from the Medium post, will be way simpler.

But the Civil platform keeps on working and has not stopped by this. In fact, there are more than 14 independent newsrooms carrying investigations and publishing surprising and polemical pieces. This is possible due to the help of the Consensys foundation, that donated more than 3 million dollars to support this initiative. However, this crowdfunding needs to be successful if they want to maintain operations in the long run.

This kind of initiatives is important to really show the potential of blockchain and cryptocurrencies for our everyday lives, and the power that it could have to be an important tool for spearheading useful projects into relevance. Despite ICOs having earned a bad reputation because all of the scams that have been perpetrated through this crowdfunding option, they can be really useful for platforms like this.

But it is uncertain if the new ICO sale will be able to build some steam to really collect the desired amount. In the meantime, as they mention in their post, “Civil is not going anywhere.”

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