Jump to content

King34Maine

Bronze Member
  • Content Count

    869
  • Joined

  • Last visited

5 Followers

About King34Maine

  • Rank
    Advanced

Recent Profile Visitors

The recent visitors block is disabled and is not being shown to other users.

  1. The overall business proposition for Coil will take time to catch on. The great thing about the collaborative approach Coil has taken is that they've partnered with two platforms (Mozilla and Creative Commons) that have pioneered open-source mediums/platforms as well as helping content creators legally "share their knowledge and creativity to build a more equitable, accessible, and innovative world." However, even more important is Coil's partnership with Loup Design and Innovation (a leading global marketing and consultancy group) to manage the $100 million dollar Grants For The Web fund and partnerships. Oftentimes many novel ideas are squandered and poorly executed by their visionaries due to the lack of good guidance, strategic planning, and thoughtful execution of such said idea. I think Stefan is going about this the right way sourcing the right talent to scale his vision for a new web-monetization model for content creators. To your concern regarding the need to reach a larger audience (i.e. Netflix, Amazon Prime Videos, etc.) Stefan mentioned in the extended Ripple Drop episode (01:48 - End) back on September 5th that partnering with larger platform and Internet service providers where you have a Coil bundle as part of your subscription to Netflix, Hulu, Charter, etc. Ripple gave them 1 billion XRP to help them provide the monetary support to build out the Coil platform and incentivize the growth and development of a community of content creators to test and build on top of the platform. I'll admit, Coil's business proposition is a risky and tall order endeavor? However nothing like this has ever been attempted, at least not at this level. Changing the status quo is never easy, which is why they've enlisted some of the best partners in promoting open-sourced tech/platforms for content creators. The business model for the web is completely and utterly broken with ads and subscription models that work best within the constructs of scaled models that has led to the concentration of power and influence in the hands of a few tech giants (i.e. FAANG, Alibaba, Tencent, et al). Coil's web monetization platform is a new way for content creators to make money. It operates and utilizes open standards that are not subjugated to one particular tech giant. In combination with their Grant for the Web program, Coil intends to help smaller players (i.e. small publishers, indie musicians, indie game developers, etc.) compete with "Big Data" who hold the power to decide how content is shared. Coil offers an alternative monetization formula for these content creators to get paid for their work without relying on intrusive advertising schemes (i.e. Adword or Adsense), paywalls, as well as the known abuse of personal data that has run a muck of the Internet of late. In many respects, Coil is doing for your average content creator what Ripple has done for small-medium sized banks and FIs by offering them an alternative to SWIFT and your large correspondent banks (i.e. JP-Morgan, Citi, HSBC, et al). No one gave them a sliver of hope in the beginning. Even the small-medium sized banks who would've benefited the most from the technology were very cautious of engaging with them at the onset. However, the folks at Ripple kept their heads down, remained focused, kept building out the platform, made strategic partnerships and slowly banks/FIs, especially your small-medium sized entities, quickly saw the benefits of the tech stack they offered. Now look at Ripple. It is one of the most successful blockchain/DLT companies that has emerge out of this new industry with over +300 customers and still growing!! I think Coil has the greatest chance for success to bring about a more equitable web monetization infrastructure for content creators than any other entity out there. I would recommend going through the Grants For The Web blog posts as you will be able to see many of the initiatives/proposals they are funding. One such proposal that received funding is a platform by Jesse von Doom called Substation. It will "explore decentralized membership and subscription-based business models."
  2. I believe you are correct. I remember hearing Stefan Thomas or Ben Sharafian describe Coil as such in an interview. I believe that analogy was the very thesis for Thomas's description of Codius in the link I provided above.
  3. Hopefully, we will get some clarity/updates around the improvements in regards to the "liveness" or "robustness" of the XRPL soon:
  4. Codius: The contracts run on independent hosts and not on the underlying blockchain or cryptographic network, similar to traditional hosting. This is because the architecture of a cryptographic network is complicated enough without throwing programmability into the mix. Codius resides on the application layer to allow contracts and dApps to interface with other blockchains, legacy systems, other internet services provider, etc. With the Interledger Protocol the primary obstacle of smart contracts  (i.e. interoperability)  was remedied giving Codius the ability to interact with any service or API, scale infinitely, and read or write to any blockchain like Ethereum, Bitcoin, etc. Codius is not tied to any one currency it can settle via any "value" designation. Codius has two components: the contract portion and a smart oracle. Having both allows its users to account for multiple variables and random outcomes (via the oracle) that can alter the outcome of the specified contract. Not tied to one particular language like Ethereum (i.e. Solidity), but allows users to utilize any programming language they choose (i.e. Java, JavaScript, Solidity, etc.) Because Codius platform resides outside of the blockchain or cryptographic network, it can do something that other contract platforms (i.e. Ethereum) can't do, and that is that it can keep secrets. Codius: Smart Contracts Made From Containers
  5. Yes, that's the ultimate goal. I recommend watching this YouTube interview with Adam Traidman (CEO of BRD wallet and the SBI/Ripple Asia consortium) in its entirety as he offers quite a bit of insight not only in to PayID but about the SBI/Ripple partnership. He talks about PayID at the 12:35 mark:
  6. There are two, SC Ventures (Standard Chartered - traditional) and Sygnum Bank (Swiss digital bank): https://payid.org/about-us/
  7. Exactly!!! I swear, XRPChat has been attracting idiots lately!! I've had to Ignore quite a few of them over the past several weeks.
  8. I'm not sure of the criteria that Xpring utilizes as a screen for issuing community grants/investments, but It almost seems as if they (Toast Wallet team) expected or felt entitled to have been guaranteed funding from Xpring. Now, I do believe that the Toast Wallet was one of the first community generated non-custodial wallets for XRP that had pretty wide-spread adoption a few years back. With that being said, I feel like there must be some other underlying reasons for this because I agree that their tweet does sound a bit provocative.
  9. I don't think they were ever supported by Xpring. I think they were seeking funding from Xpring.
  10. The problem is that changing the status quo isn't easy. We are just at the beginning stages in the evolution of Web Monetization. Coil's process will follow a phased-in approach similar to how Ripple initially approached banks and FIs with xCurrent and xVia. You have to remember that: The world is addicted to subscription models Very few content providers even know about web monetization, what it is, or how it could benefit them. We need to market/educate content users to support platforms like Coil to get them comfortable with the technology and idea of web-monetization. If users are not there to support web monetization-based models, content providers are not going to make the transition. Again, as I mentioned, changing the status quo is never easy, which is why they've enlisted some of the best partners in promoting open-sourced tech/platforms for content creators. The great thing about the collaborative approach Coil has taken is that they've partnered with two platforms (Mozilla and Creative Commons) that have pioneered open-source mediums/platforms as well as helping content creators legally "share their knowledge and creativity to build a more equitable, accessible, and innovative world." However, even more important is Coil's partnership with Loup Design and Innovation (a leading global marketing and consultancy group) to manage the $100 million dollar Grants For The Web fund and partnerships. Oftentimes many novel ideas are squandered and poorly executed by their visionaries due to the lack of good guidance, strategic planning, and thoughtful execution of such said idea. I think Stefan is going about this the right way sourcing the right talent to scale his vision for a new web-monetization model for content creators. To your concern regarding the need to reach a larger audience and changing/transitioning from a subscription-based model (i.e. Netflix, Amazon Prime Videos, etc.) to a web-monetized model, Stefan mentioned, in the extended Ripple Drop episode (01:48 - End), that partnering with larger platform and Internet service providers where you have a Coil bundle as part of your subscription to Netflix, Hulu, Charter, etc is the first step to introducing people to the concept. I think this partnership with WordPress is a great example of this and will help to educate and expose millions of content creators to alternative payment methods that give them control over their own revenue streams. Subscription-based models are going to linger on for a while longer until web monetization start to take root and people get comfortable with the new process.
  11. I think that's what @KarmaCoverage was alluding to. Issue the loans in Fiat, but have it collateralized/settled via XRP:
  12. Hey, sorry, for some reason the link doesn't work via Chrome. I had to use Safari or FireFox. However, the link provided by @Xrpiet works in Chrome:
×
×
  • Create New...