The Denver Post, Colorado-based newspaper, was facing criticism from its own journalists and editors. It all started after American hedge fund Alden Global Capital bought MediaNews Group, which manages The Denver Post. After various disagreements, many reporters ended up resigning from their positions to launch their own blockchain based news outlet The Colorado Sun.
The New York Times reported
that the news website will collaborate with blockchain startup Civil Media Company. Some of the ex-Denver reporters include Kevin Simpson, John Ingold, Tamara Chuang, Jennifer Brown and Jason Blevins, along with senior editors Larry Ryckman, Eric Lubbers and Dana Coffield. The Colorado Sun
defines itself as “a community-supported, journalist-owned team focused on investigative, explanatory and narrative journalism for a state in the midst of a massive evolution.”
Please join us for what promises to be an interesting ride. We rely on public support. https://t.co/al6cOvvDvN
— Kevin Simpson (@KevinJourno) June 17, 2018
People have started questioning the quality of journalism nowadays. Elon Musk, SpaceX CEO, tweeted that a website should be created where the credibility of journalists could be rated. Facebook is also trying to provide quality journalism by launching a project of its own. In these circumstances, using blockchain technology to create transparency appears to be a wise choice.
The Colorado Sun will follow the aforementioned method by recording data on a blockchain. Civil will provide financial support to the newspaper and launch CVL tokens over the summer. Token holders will have the chance to vote for Civil-supported websites in case they fail to comply with the standards. Matthew Iles, CEO of Civil, said, “We hope that Civil is going to become this publicly owned domain for journalism that anyone who’s interested in the promise of sustainable, independent journalism around the world should be in possession of, to maintain and support it.”
Ryckman praised Iles effort’s in supporting local journalism in the “right way” – by distributing stakes to the public and creating an unbiased environment.