The Colorado Sun: With the Blockchain to Independent Journalism

After a quarrel with the media conglomerate Digital First Media, employees of Denver Post decided to establish an independent platform for journalism. The Colorado Sun will be an independent media platform on the blockchain.

With all the speculation about the share price development, the fight for short-term profits in day trading or the great hopes of the Hodlers, one often forgets that among (most) crypto currencies there is a groundbreaking technology. This can make it possible to create trust without middlemen. And this is exactly one of the greatest strengths of the Blockchain. The possibility to offer a transparent and forgery-proof structure. Whether this involves the administration of land register entries, ballots or supply chain data is of secondary importance in theory. In practice, however, this is not yet the case.

The Bitcoin loophole

Former employees of Denver Post have now decided to set up their own Bitcoin loophole media company. They want to make use of the advantages of blockchain technology. As the New York Times reports, the graduates of Denver Post decided to found The Colorado Sun in cooperation with the Civil Media Company.

Apparently, the initiators were dissatisfied with the desolate condition of their former employer. According to the New York Times, the company was in a state of „low morale“ after being taken over by the New York hedge fund Global Capital. The employees did not want to continue supporting this state of affairs. Denver Post had been taken over by Digital First Media. The media company, which owns more than 90 newspapers in the USA, had initiated extensive layoffs and „cost-cutting measures“ after the takeover. This quickly led to a rift: many employees who had not yet been dismissed decided to leave the newspaper voluntarily. And then to found The Colorado Sun.

Blockchain to Save Independent Journalism

It should be more democratic and transparent through the use of tokens. The website should be designed in an ordinary framework. The storage of the data takes place however over the Blockchain. In order to protect the rights of the authors in the long run, Civil, the superordinate enterprise, works with its own token. The CVL token is then intended to enable owners to vote on whether the respective content complies with the company’s journalism guidelines. This will allow ownership to pass to the community via the media platform, rather than giving it to a single company.

The team currently includes seven former employees of Denver Post. By the end of the year, 1,000 publications will have been published. Civil is supported by ConsenSys, which includes Joseph Lubin, co-founder of Ethereum.

Regulation in the Week in Review #11 – Hard Headwind from Asia?

In the past week, a lot has happened around the globe in terms of regulation. In the series „Regulation in the Week in Review“ we look back at the end of the week and summarize what was said, thought or decided where, when and by whom.

China: Are national blockchain standards coming?

The Chinese government is apparently working on introducing uniform national standards for blockchain technology. As the Chinese government announced, they want to advance the blockchain and generally distributed ledger technologies in China. To this end, the Ministry of Industry and Information Technology has already initiated measures, such as a seminar with representatives from business and society.

ECB: Bitcoin not responding to cashless society
A statement by Benoît Cœuré and Jacqueline Loh states that Bitcoin is a „challenge“ because banks fail to provide appropriate international credit transfer options for consumers. The Bitcoin reveals an old weakness in our current system: cross-border retail payments. Nevertheless, crypto currencies cannot replace central bank money. Cœuré is a member of the Executive Board of the ECB and Chairman of the Payment and Market Infrastructure Committee of the Bank for International Settlements (BIS). Loh is chairman of the BIS Market Committee.

Thailand’s former finance minister: crypto-regulation necessary

In his role as chairman of the Thai Fintech Association, Korn Chatikavanij advocates the regulation of crypto currencies. The former finance minister supports the proposal of the Thai financial market supervisory authority SEC to issue a set of rules.

Malaysian Central Bank: Illegal ICO punished
The Central Bank of Malaysia made a special announcement. Bank Negara Malaysia (BNM) took steps against the Blockchain project Coinzer, which had recently launched an ICO. The coin’s logo included the BNM’s logo, the Malaysian coat of arms and the 14-pointed star of Malaysia, thus erroneously establishing a link with the Malaysian state.

Legal Status of Crypto Mining: No Ban Possible
The comparatively high energy consumption of crypto currency mining has not passed the EU Commission by either. As Mariya Gabriel, the Commissioner for the Digital Economy and Society, notes, mining is not prohibited by any EU law. However, it falls under EU legislation on energy efficiency and climate protection.

Genesis Mining must cease activities in South Carolina
Cloud mining service Genesis Mining has been ordered to cease operations in South Carolina following an injunction issued on 9 March. The order mentions Genesis and a second company, Swiss Gold Global Inc. The mining contracts entered into are classified as securities by the Securities Commission of South Carolina, but Swiss Gold Global, which acted as broker-dealer for Genesis, were not registered in the state to offer these securities.

Putin advisor brings crypto currency into play for Eurasian Union
Putin consultant Sergey Glazyev doubts the security of Russian deposits in Western banks. This is why he is bringing a blockchain-based digital currency into play for the countries of the Eurasian Economic Union. This would make it possible to circumvent the sanctions directed against Russia, which would greatly unsettle the global banking sector.