A group of venture-capitalists – calling themselves as Civil – are starting a revolutionary newspaper. The Colorado Sun will be the first newspaper built on the blockchain.
The Colorado Sun is being created from the ashes of the Denver Post, according to a Colorado Public Radio report. The Denver Post was recently purchased by Alden Global Capital. The hedge-fund immediately announced mass layoffs. The Post subsequently lost many of its big-name and most experienced journalists. Stories even ran nationwide how the newspaper staff fought hard to protect their paper. Those journalists ultimately left the Post and have now re-emerged with the new Colorado Sun.
The Sun will be built on the Ethereum blockchain. Details about how the newspaper will use the blockchain have not yet been disclosed. Developers claim, however, that the Sun will be available in digital-form only. They also hope to charge a nominal fee for access, with no paywalls.
The developers are unsure if the Sun will be successful, by they are excited to try anyhow. Civil Media Company CEO Matt Iles explained: “It’s a risk. Are we absolutely certain it’s going to work? No. Are we absolutely certain that something needs to be tried, and that it should be pretty different? Yeah. So we’re committed to taking a swing at something that’s pretty radically different and that we obviously believe in.”