A coalition of news organizations and journalists in various parts of the world have banded together to create a cryptocurrency to sustain funding for investigative journalism. Called PressCoin, the digital currency was made to get rid of the advertising revenue model, decentralize funding sources, and upend corporate media monopolies with collaborative content that strengthens civic participation around the world. The Ethereum-based currency will be distributed to the wallets of both readers and journalists based on the level of engagement they are able to create, as measured using the Quintype content management system. Readers will receive PressCoin for generating insights from thoughtful conversation. Compensation levels for readers and journalists will be based on reputation documented and recorded in the blockchain. PressCoin publications will not allow readers to engage in comments or interact with anonymous accounts. Like De Correspondent, PressCoin will allow limited access to read its content, but to read full stories, interact with journalists, or comment on stories, users will have to pay for a subscription or make micropayments for individual stories. After the token sale, people will be able to subscribe or join the PressCoin system using fiat currency, credit cards, or online payment systems
The Crypto-Economy for the Future of Press
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