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Extended Ripple Drop Interview: Coil's Stefan Thomas

  • 0:02 - 0:04
    You've recently launched Coil,
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    a platform to help creators
    online monetize their content.
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    How does it work?
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    So Coil is based on an open web standard
    called web monetization,
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    and what that means is that
    there's a feature in the browser
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    that allows to pay different websites
    as you're browsing their content.
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    So rather than, you know, looking at ads,
    may be paying a subscription
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    for each website you go to.
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    This kinda allows you to
    go to any website out there
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    and pay them like a small amount.
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    Opening up the web for
    monetization to everybody,
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    rather than just giant platforms
    that have lots of users
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    and lots of content.
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    So we're hoping to, kind of,
    redistribute the web a little bit
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    and kind of make it easier
    for independent websites
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    to compete with the larger sites.
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    So where's Coil available right now?
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    So Coil is available worldwide
    to anybody with a credit card,
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    and then, if you're a creator,
    you can get paid out
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    using any Interledger enabled wallet.
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    Right now there's U.S. dollar options,
    so you can withdraw
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    to a U.S. bank account,
    and there are XRP options.
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    But we expect that to
    expand in the future.
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    You recently announced
    a partnership with Imgur.
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    What's the goal of this partnership?
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    We're trying to establish a new web
    standard, web monetization.
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    And in order to do that,
    you need to reach a lot of people,
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    and you need adoption for the standard.
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    And so Imgur is gonna be a great partner
    in terms like bringing this
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    to a larger audience,
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    explaining what it's all about and giving
    more people access to it.
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    What kind of feedback are you getting
    from these creators
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    that are using your platform so far?
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    What we hear from creators is that
    it's really hard to monetize your content,
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    and when you do,
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    you're very dependent on
    the platforms that you use.
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    Because they have all the users,
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    they have a huge amount
    of content already.
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    So they hold all the cards.
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    And so as a creator,
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    this is kind of an open
    alternative to that.
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    You can be on a smaller
    site and still anyone
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    that supports the standard
    will be able to pay you.
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    So it really kinda opens up the space
    for smaller creators,
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    for independent creators.
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    What's your greater vision for Coil?
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    Yeah, our hope is that one day
    the standard will be so ubiquitous
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    that most websites will support it.
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    And then, you know, maybe
    it's even like bundled
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    with your internet connection.
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    So rather than having a
    separate subscription,
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    part of that package is, you know,
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    money that can help
    content creators' websites.
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    And so rather than getting
    paywalls everywhere,
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    getting ads everywhere,
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    having to get subscriptions
    for different sites.
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    Maybe it's all kinda bundled together
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    and you can use whatever
    you want across the web.
Title:
Extended Ripple Drop Interview: Coil's Stefan Thomas
Description:

Check out this interview with Coil's Founder and CEO Stefan Thomas. The former Ripple CTO explains how his platform is creating a new standard for consuming and providing content.

Thomas also talks about the company's partnership with Imgur and his hopes for the future of Coil.

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Video Language:
English
Duration:
02:20

English subtitles

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