A coalition of news organizations and journalists from different parts of the world came together to create a cryptocurrency that is responsible for supporting a fund for investigative journalism. The coin will have the name PressCoin.
The cryptocurrency was made to get rid of what is the advertising model and its monetization reimbursement model, also seeks to decentralize revenue sources and the monopoly of collaborative content.
PressCoin has already established its initial offer of currency that will last 28 days. As such, the offer will begin on the 22nd of this month. Sales are made at the cost of a PressCoin for one dollar.
If this proposal is successful, many independent journalists would benefit, since those professionals who are not working under contract in any way do not see the need to depend on alternative income sources such as Patreon.
Readers will receive PressCoin for generating insights that create conversation topics. The levels of compensates will be protected in a system that is based on the Blockchain technology. The interactions between the users of the page can not be anonymous.
The publications that will fall within the PressCoin spectrum will touch on politics, energy, education, greeting, welfare and science. Among the first publications you will have in the catalog: NextElection, Mojonomy and ChickenSoup.News. PressCoin is following the fundraising model used by many other companies that were looking to launch their own cryptocurrency, as was the case with Kik, an instant messaging app that collected 98 million dollars.