ConsenSys-backed Blockchain media startup, Civil has released its CVL tokens which claim to offer financial sustainability and enhance trust in journalism. Started on March 6, users will supposedly be capable of buying Civil membership, including CVL that will represent members’ voting power within the Civil community. The company said that it will direct 100 percent of the net proceeds to autonomous non-profit organization Civil Foundation, which supports ethical journalism across the globe. Besides, members will get a corresponding number of CVL to their financial contribution to the Civil Foundation.
Furthermore, the ConsenSys-supported firm will introduce two tools, the Civil Registry, and the Civil Publisher, in which the Civil Registry is an app that allows any newsroom to apply Civil newsroom with the independent community, while the Civil Publisher enables Civil newsrooms to list verifiable data regarding their publications to the Blockchain. People from around 100 newsrooms worldwide reportedly have joined the Civil platform. Back in August last year, Civil entered into a content licensing partnership with the Associated Press (AP) that enable the AP to deliver its content, including national and international news to Civil, where news agencies can access it on the platform. The company has also determined to initiate a membership program that will see its members receiving perks like tickets to quarterly events and access to exclusive content from journalists. In order to join, a person from a newsroom only needs to have CVL tokens and have to follow the Civil institution’s code of ethics.
As supporting to Civil, ConsenSys is a Blockchain-driven software technology company is set to stir up other Cryptocurrency-based companies into creating profitable businesses. Founded in the year 2014, the company solves real-world issues with Ethereum Blockchain solutions for organizations of all sizes. Headquartered in Brooklyn, New York, ConsenSys is actively involved in a range of projects and initiatives.