WordPress is launching a new revenue-generating news platform that will offer blockchain features. The project called Newspack will be backed by Ethereum development studio ConsenSys, Google and more.
Along with ConsenSys, major global blockchain companies have joined in the funding of the initiative such as Google News, The Lenfest Institute for Journalism and The John S. and James L. Knight Foundation. While Google led Newspack’s funding with a $1.2 million investment, ConsenSys has reportedly contributed $350,000. Apart from that, Newspack has also managed to gather funding from James L. Knight Foundation ($250,000) and the Lenfest Institute for Journalism ($400,000), respectively.
According to an official press release, Newspack will provide an open-source publishing platform for news firms which offers the option to use blockchain-based features to all the newsrooms accessing the platform.
Specifically, Civil’s Publisher product will be installed as a plugin on the WordPress platform, allowing newsrooms accessing the Newspack platform to permanently archive content on a decentralized network.
Civil Media is a ConsenSys-backed firm with a view towards publishing content on a decentralized network – facilitating writers, journalists, and content producers to publish directly without the need for an intermediary. In October 2018, Civil token-based fundraiser has reportedly failed with $1.4 million raised out of a targeted $8 million. The firm has refunded the money and announced plans to relaunch in February 2019.