A new Colorado media startup using blockchain to move away from the ad-based media model and reward journalists for the quality of their work could revolutionize the news industry, reports CNBC.
The Colorado Sun and its partner, Civil Media Co., aim to be an employee-owned, reader-supported and ad-free digital publication that uses blockchain technology to support its business model.
The publishing platform will be an open-source distrusted computing platform. Stakeholders will be able to use cryptocurrency to access stories and incentivize reporters by paying more for quality work.
The Colorado Sun, which is led by former Denver Post journalists, will produce content the editor calls “complementary news,” a more investigative and narrative form of local journalism.
Expenses for the startup will be covered by a grant from Civil Media, which plans to launch similar publications in several markets by the end of the year. (Source: CNBC)
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