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LeonidasH

The Coil ecosystem grows with WordPress plugin and Uphold integration

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Posted (edited)
25 minutes ago, LeonidasH said:

this sounds more like the COIL we were all expecting.

I wonder could a national newspaper use this system?  These are the sorts of customers that could make micropayments go mainstream.

Edited by Julian_Williams

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Why, when they are trying to revolutionise content with micropayments,  would they stick with the same old subscription model that everyone else uses?  It’s nuts.  Never seen an explanation why they can’t pay-as-you-go at BOTH ends.

Its stupid and annoying and shoots itself in the foot.

Maybe with Uphold they will allow a Coil account with no monthly drain.  All pay as you go.  Then it would finally be a dramatic and shiny new thing,  instead of just another monthly subscription.  I think the current model is idiotic.

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16 hours ago, Dogowner5 said:

Why, when they are trying to revolutionise content with micropayments,  would they stick with the same old subscription model that everyone else uses?  It’s nuts.  Never seen an explanation why they can’t pay-as-you-go at BOTH ends.

Its stupid and annoying and shoots itself in the foot.

Maybe with Uphold they will allow a Coil account with no monthly drain.  All pay as you go.  Then it would finally be a dramatic and shiny new thing,  instead of just another monthly subscription.  I think the current model is idiotic.

 

Agreed. Using ILP to stream money into ILP-enabled custodians like Uphold is awesome, but the problem is not on the receiving end but the sending end. So far it's just Coil with a subscription-based model. It seems there is a long way to go before the vision is realized of browsers managing money like they do with other resources.

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Posted (edited)

Quite interesting about integration on the cloud, and how Ripple "have figured it out".   So much of what is happening requires a lot of pioneering work and testing.  I suspect Coil objectives (starts at the 5 min mark on Eri's video) are substantially different from this subscription base model which nobody really wants to join.

 

Edited by Julian_Williams

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Posted (edited)

What I also find interesting about this article about the same topic (https://www.forbes.com/sites/coryjohnson/2020/05/19/full-court-wordpress-coil-deal-boosts-functional-blockchain---and-xrp/) is that Cory Johnson states that he does not own any XRP at the time of writing the article, while he worked for Ripple. It may be a prerequisite to be an independent journalist.

Edited by FVM

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Posted (edited)

 

On 5/19/2020 at 5:51 PM, Dogowner5 said:

Why, when they are trying to revolutionise content with micropayments,  would they stick with the same old subscription model that everyone else uses?  It’s nuts.  Never seen an explanation why they can’t pay-as-you-go at BOTH ends.

Its stupid and annoying and shoots itself in the foot.

Maybe with Uphold they will allow a Coil account with no monthly drain.  All pay as you go.  Then it would finally be a dramatic and shiny new thing,  instead of just another monthly subscription.  I think the current model is idiotic.

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:

  1. The world is addicted to subscription models
  2. Very few content providers even know about web monetization, what it is, or how it could benefit them.
  3. 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.

Edited by King34Maine

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