Is Web Monetization the New Trend? Ripple Donates XRP to Wikipedia

3 min read
Adrianamidrigan

adrianamidrigan

Forex broker

Stefan Thomas, now, former Chief Technology Officer at the Ripple project, has quit his position as CTO to lead the promising venture called Coil.

Coil is a revolutionary crypto-based project that aims to integrate the Interledger protocol in order to help monetize the web and provide more user-friendly features. Additionally, all content creators will be rewarded.

Back in May, Coil announced its first product to be released- flat rate subscription for users to their preferred online platforms. The Coil project wants to give users the opportunity to look at their past paywalls, see fewer advertisements as well as unblock extra features plus content.

One of XRP community’s member, Hodor, commented on the subject ‘web monetization‘:

“While Web Monetization is merely a draft version of a new standard at present, it forms the basis for supporting a new kind of Internet – one in which content creators can be rewarded for their services, applications, and creations without having to rely on privacy-destroying web advertising.”

He went on describing the process for becoming part of the new era of web monetization via Coil:

  • “The first step is to configure your browser by pressing the “Register Coil Handler” button on the Coil website while using the browser that you wish to use to automatically browse and pay websites. This button will appear different depending on your browser. For example, if you are using Chrome, the button will say “Download Chrome Extension.”
  • The second step is to fund your Coil account with a credit card, via Stripe. How much do you pay? No matter what, it’s a flat fee per month of $5.”

Coil is available on Wikipedia

Recently, the current Chief Technology Officer at Ripple, David Schwartz, tweeted that Coil is available on Wikipedia, meaning that for those who use Coil to browse the free online encyclopedia, the platform donates XRP to Wikipedia.

“Watching the adoption of @Coil is exciting. Even without a partnership, they are testing their web monetization flat rate product out on @Wikipedia with $XRP. After @Coil users visit the site, @Coil makes a donation to @Wikipedia”

Author: Adriana Midrigan

 

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