A group of former Denver Post journalists have created The Colorado Sun online news source by partnering with the Civil Media Company, a New York start-up that plans to use blockchain technology and crypto economics to launch 1,000 publications across the country this year, The New York Times reports.
Among those is former senior Post editor Larry Ryckman, editors Eric Lubbers and Dana Coffield and reporters Kevin Simpson, John Ingold, Tamara Chuang, Jennifer Brown and Jason Blevins.
The Post has laid off dozens of journalists since it was acquired in 2013 by hedge fund Alden Global Capital, which runs the daily through Digital First Media. Others have quit.
Blockchain technology is a public digital ledger that can't be changed and records transactions across many computers. The Sun will be funded to start with a grant from Civil, and will rely on a new token called CVL. "People who purchase the CVL token, a type of cryptocurrency," The Times reported, "will have a say concerning the projects hosted by Civil — meaning that they can vote on whether one of its websites violates the company's journalism standards, which are outlined in the Civil Constitution."
Colorado Public Radio reports the digital-only format aims to launch by August.