A journalistic blockchain startup from New York Civil announced the closure after four years of operation. This was reported on the project website.
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According to CEO of Civil Matthew Iles, the company created an innovative product, but later it turned out that the project could not support itself on its own.
The goal of the startup was to build a “self-governing marketplace” for journalism using distributed registry technology.
In 2017, Civil raised $5 million from the Ethereum studio ConsenSys. Then the startup failed, trying to raise funds through the ICO. Civil also unsuccessfully tried to establish cooperation with The New York Times, The Washington Post and Dow Jones.
According to information on the site, Civil will continue to work under the supervision of ConsenSys to create Ethereum-based digital identity software.