Opinions

Civil is Ready to Launch Despite Their Failed Token Sale

The technology behind Bitcoin and other cryptocurrencies has inspired several startups in various industries in the last few years. With different companies hoping to find solutions to their respective problems through blockchain technology, come numerous initial coin offerings (ICOs) or token sales. Some are an instant hit with the public and some aren’t as fortunate and end up being a bust. Exactly like the CVL token sale.

Civil, which is a blockchain based media startup, was planned to officially launch in the February of 2019 and despite witnessing quite the failure with its CVL token sale, the team is still sticking to the schedule.

This startup has its sight set on the journalism industry and promises to offer solutions in order to create a decentralized market place specifically for sustainable journalism. According to its founder, Mathew Ileas,

Civil sits at the intersection of two major trends: 1) decentralized economies powered by blockchain, and 2) quality journalism and civil discourse in an era of unprecedented division.

He believes that both these trends tend to be volatile and have to face oppositions that hamper their growth and sustainability. But the fact remains that these two trends are key if we are ever to achieve a more open, trustworthy, as well as a transformative society.

According to the post, Civil, in spite of its unsuccessful token sale earlier this year, which was targeting a minimum of eight million US, will go through with its scheduled launch in February. As per TechCrunch, Civil managed to raise only $1,435,491 in CVL tokens from 1,012 investors, while there were 1,738 buyers who registered for the sale but never really went through with the transactions.

In addition to the token sale, the startup is also planning on introducing two tools to its ecosystem, the Civil Registry and the Civil Publisher. The former is an app that will enable any newsroom to apply to be a Civil newsroom with the self governing community. While the later allows Civil newsrooms to index verifiable data about their publications to the blockchain.

Furthermore, the company claims that 18 newsrooms have joined the organization, and they expect 50 more to join in by February. Further down the road, the startup plans to add 1,000 small to midsize newsrooms worldwide, by 2020.

Moreover in August, Civil entered into a content licensing partnership with the Associated Press (AP), and according to the deal, AP will deliver its content, which will include national and international news to Civil, so that news agencies can access it on the platform.

Abeer Anwaar

Abeer holds a Bachelors degree in Media studies and covers blockchain startups for BlockPublisher. An optimist, excels in the art of the written word and swears by the joy of all things sweet. Contact the editor at editor.startups@blockpublisher.com

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