Civil (CVL) Crypto Token Sale Requires Users To Pass ‘Proof of Use’ Test
Civil is a decentralized news platform which has already created waves within the cryptocurrency community. Further, the organization has been incredibly effective at creating hype within the journalism sector, especially in the United States. Part of the reason for the unique success the platform has experienced in the U.S. is a result of the serious intrusion of fake news and bias into the information trade sector.
But progress has been relatively quick, especially compared to other platforms looking to launch on the cryptocurrency platform using Initial Coin Offerings (ICOs). The initial announcement for the platform was only released in mid-June of this year. And now, only in July, news has come out that the company will soon be releasing its tokens in an official token sale. The date given in the first press release is August 13th of this year.
The company has set an incredible goal; they want to sell over USD $8 million in CVL tokens before the end of the ICO sale. Despite the height of this enormously ambitious prerogative, professionals within both the cryptocurrency and the journalism industry maintain that it might be more than possible for Civil’s platform to create the interest required to raise $8 million in token sales.
The Civil platform is an information and news sharing platform which seeks to decentralize the way that news and other pieces of journalism are shared and created within the sector. The company gained media attention almost immediately, with the Zigzag podcast and the Colorado Sun newspaper picking up the story and sharing it with tens of thousands of listeners and viewers.
The platform uses the CVL token in order to give participants on the platform the opportunity to interact with content and content creators in a variety of ways. In particular, the community can use the tokens to vote on and challenge people on the legitimacy of their reporting, as well as appeal the decisions that are made within the council that decides how to respond to accusations.
The Civil token separates itself from other tokens because, unlike the vast majority of tokens sold in ICO processes, the CVL coin cannot be simply bought by anyone. Instead, the startup company has implemented a series of tests and requirements to be passed by those who want to purchase the token. At their core, the tokens are used as tickets for participation within the governmental-like internal structure of the institution.
Even the founder of the Zigzag podcast attempted to pass the test and failed, showing that it isn’t an easy thing after all. Part of the reason Civil is so strict about who can and cannot participate in their system comes down to the organization’s serious commitment to creating a unique journalism outlet free from inappropriate use and disruption.
As the company moves forward, this token test and release is but another example of how the organization is unique and seeks to change the way that information is viewed on the web.