Blockchain tech firm ConsenSys has united news industry leaders to add to the introduction of a new networking news platform by WordPress, based on a official press releasepublished on Jan. 14.
ConsenSys has invested $350,000 in the new WordPress job named Newspack, an open-source platform for news businesses.
In general, WordPress' parent firm Automattic and its partners Spirited Media and News Revenue Hub have secured $2.4 million to the first-year financing of the initiative.
Aside from investing in the brand new proof-of-concept (PoC) initiative by WordPress, which is the world's most popular website management platform, ConsenSys will also give the new publishing platform having a blockchain-powered native plugin for Civil. Backed by ConsenSys, Civil will make it possible for any curious newsroom to join its community-owned journalism community and archive their content onto decentralized storage methods.
Civil Media is a ConsenSys-backed company that claims to deploy cryptocurrency to save journalism. In October 2018, the business raised $1.4 million at an initial coin that (ICO) out of a projected $8 million. However, the since the target wasn't met, Civil reimbursed the money but declared intends to launch February 2019 despite the failure to fulfill up with the target.
ConsenSys allegedly turned out to be the largest buyer of Civil Media (CVL) tokens, having bought 80 percent of those tokens which were marketed. Back in October 2018, Civil'd remarked that it might make a more blockchain-publishing plugin for Wordpress.
Back in 2012, WordPress additional Bitcoin (BTC) as a payment choice for its CMS upgrades, asserting that"unlike credit cards and PayPal, Bitcoin has no central authority and no solution to lock entire countries from their community."
However, the company afterward closed down the Bitcoin payment choice in 2015, stating that Bitcoin was reduced in priority, but nevertheless noting the company was nevertheless a huge believer in Bitcoin and might add its service back later on.