When Civil Media Company burst on the media scene earlier this year, it was heralded by some as the key to a new financial platform for the news media. With its own blockchain technology, crypto-currency, internal rules and grants for startups, Civil promised a new era of reader trust and financing. Alas, reports the New York Times. Civil sold few of the tokens it projected and failed to convince many that it will ever be a going concern. "It was as if an Olympic weight lifter said that, at a minimum, he’d be able to clean and jerk 400 pounds," the Times wrote, "and then did not manage to move the bar more than an inch off the ground."
Source: New York Times
Posted on: November 1, 2018