Extended Ripple Drop Interview: Coil’s Stefan Thomas

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

Leave a Reply

Your email address will not be published. Required fields are marked *