Blockchain-based Journalism Startup Raises $2.5 Million, Hires Editor

10/29/17

Brooklyn-based blockchain startup Civil announced a capital raise of $2.5 million this week from ConsenSys, the East Williamsburg blockchain venture studio that recently raised a $50 million venture fund for startups working on the Ethereum platform. (ConsenSys said it would also commit $2.5 million in support services, thus the $5 million headline from CoinDesk.)

Recall, Civil envisions a world in which news consumers pay for the content they consume directly to the writers, via “smart contracts” over the blockchain. Writers would be solo practitioners or assemble themselves into newsrooms built around a specific coverage area.

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