Ex-Ripple chief technology officer is launching a blogging platform, considering content as one of a major use cases for crypto
Last year, Stefan Thomas, a former Ripple’s CTO, launched a closed beta testing of his Coil startup headquartered in San Francisco. Coin is a public venue for bloggers enabling them to earn XRP.
Best Coil authors to get paid in crypto
Since the beta kicked off in late summer 2018, around 1,000 users have been paying around $5 per month as a subscription fee. Unlike other platforms, like Spotify, Coil automatically pays bloggers in XRP depending on how popular their content is.
As reported by CoinDesk, Coil.com cooperates with Stronghold, a platform that enables converting crypto to USD. The final target of Coil is to introduce free access for users with a tipping option. Creators of best content will be getting paid.
Ultimately, the creators of the platform plan to use various cryptocurrencies on Coil.com. The focus will be on charging payments per time spent on a blog page.
Avi Kabani, who has published a few books on love and relationships, and a Forbes writer Thomas Silkjær have already joined Coil. Kabani has managed to earn 21 XRP and Silkjær believes that in the future Coil may well push out some media with paid subscriptions from the market. In an interview he said:
“You pay per second you are visiting a website. But the underlying technology is much more capable. Imagine paying per kilobyte streamed of video, or paying for time spent reading articles otherwise walled by paywalls and subscription.”
Tron-based app tests a writers’ platform
In January, it was reported that a Tron-based dapp was setting up a platform which would enable writers to sell their self-published books for crypto.
The BOOK project team back then was planning to launch a testnet dubbed Dummy Book Network. This network would use the WRT token as the major coin.
In the future, the team claims, this network will enable authors to do without major electronic book-sellers, such as Amazon, that charge immense fees and give a tiny bit of the royalty to their authors.
Other blogs that pay writers in crypto
Apart from the BOOK project and the Coil platform, there are also rivalling platforms that offer crypto rewards to content makers.
The privacy-focused Brave browser offers rewards for bloggers and YouTubers in BAT (Basic Attention Token).
Other platforms like that are Yalls and Cent – they offer rewards in Bitcoin and Ethereum.