A community-owned journalism network, Civil, based on transparency and trust, has officially announced its new launch in February. The team has taken into account all the errors of the October ICO of the platform. Which did not take off well as it ended up refunding contributions to its supporters, said Matthew Iles who is the co-founder of Civil.
“In the days following our failed token sale, I met with every member of the Civil team, our newsrooms, partners, community members and close advisors, to understand that we needed to learn, what we needed to change, and critically, what we needed to hold onto.”
The News startup could raise only $1,435,491 in CVL tokens from 1,012 investors, while additional 1,738 buyers never completed the transaction. Despite having a powerful media representative such as Forbes as one of the partners, Civil’s ICO operation was a failure.
The Civil network is a blockchain-based journalism platform, which strives to create a new media ecosystem powered by its own CVL token. It intends to help participants gain financial sustainability and increase trust in journalism. The company puts the word ‘journalism’ at the first place in its long description.
Originally, the company was intended to develop into a decentralized network, with the hope of bringing back the true freedom of speech to newsroom, helping them reach their own communities, using some of the tools offered by the Civil media. Furthermore, to gain support from their readers in the form of a native token of the platform.
Matthew Iles notes:
“Civil was never about ICO or tokens, or even blockchains. We’re about community ownership, transparency and trust. We believe our journalism (and media at large) should compete on craft, but collaborate on infrastructure. Technology is a critical means to an end, but we let it overwhelm our message, complicate our experience, and distract from our core objectives. We won’t make the mistake again.”
For the coming token sale in February, the platform is planning rigorously to leave no loose ends. The platform will set no hard cap, soft cap or time limits, rather, interested members will be allowed to but tokens right from the company’s official website.
The new ICO will come along with some new products such as the Civil Registry and Civil Publisher. Civil Registry serves as an application, allowing any newsroom to apply for becoming a Civil newsroom.