Mark Novogratz just invested $30 million in Wikipedia blockchain alternative, Everipedia

Blockchain is certainly everywhere. The technology behind Bitcoin has topped new heights these recent months and is now poised to receive a huge support from Wikipedia.

Wikipedia is one of the most widely used searches in the world. Just now, Wikipedia co-founder Larry Sanger’s Wikipedia blockchain alternative, Everipedia, has just received a $30 million dollar investment from venture capitalist Mike Novogratz’ new private bank Galaxy Digital.

While the ambitious project founded by Sanger was ready to launch its own ICO and gather funds, the endowment made by Novogratz will now be used to build the blockchain alternative to Wikipedia on the EOS platform, which is also near the finish line of being fully developed.

Icoexaminer reported:

“The team behind the project plans to perform an initial airdrop of Everipedia IQ tokens to holders of the EOS token once the latter’s platform is up and running. Everipedia is also believed to be the first project to receiving backing from Novogratz’ new $250 million Galaxy Digital adventure.” 

The major purpose for the Everipedia project is the fact that Wikipedia is currently attacked by trolling content editors, doubtful information on multiple topics and the Everipedia will be used to fight these issues. After the official launch, the token will be a required step for users to both add and edit content. Thus, the team behind Everipedia hopes to create more transparency and accuracy on the open-source encyclopaedia.

In addition, the really good pieces and content writers will be rewarded based on reviews from the public (the readers) and curators.

According to Wikipedia, one of the co-founders of the online encyclopaedia, Sanger, left the project only one year after operation, since he did not believe that the open-source model will be resilient for the future. Content was a huge issue back then and it appears it still is.

However, with the help of blockchain and its consensus-based mechanism, Everipedia will help for more reliable and transparent content published on Wikipedia.


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