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Former editors and journalists of one of the largest American daily newspaper, “The Denver Post”, are launching their own independent media based on the blockchain, The New York Times reported yesterday.

The new outlet is called "The Colorado Sun". There will be no advertising in it, and materials published on its website will be stored in a distributed ledger system.

All the costs of launching the project will be covered by a grant provided by the New York start-up Civil Media Company whose investor is ConsenSys - the company founded by one of the Ethereum co-founders Joseph Lubin.

This will not be the first blockchain project for Civil - as a part of financing new media entities, the company plans to issue a token called CVL and create 13 newsrooms throughout the US this summer. Coin holders can vote for Civil projects that best correspond to journalistic standards, which are outlined in the company’s Constitution.

By Nadya Astam

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