The difficulties of compensating content creators for their work has been a driving force of the web for decades. It gave rise to advertising-driven tech giants like Google and Facebook and contributed to the decline of industries like music and publishing. Coil aims to change this and leverage blockchain and the Interledger Protocol to build a new business model for the web.

We were joined by Coil Founder and former Ripple CTO Stefan Thomas and Coil Co-Founder Ben Sharifian to discuss their ambitions to change how content is consumed and paid for.

Topics covered in this episode:

What web monetization is
The difference between web monetization and web payments
The negative effects of advertising-driven business models
What the Interledger Protocol (ILP) is
The current state of ILP
Why Stefan and Ben decided to leave Ripple and start Coil
The case for web monetization as an initial use case for Coil
The idea of users paying a fixed bandwidth per second to content creators
Possible user experiences that could be built on top of Coil
How to bootstrap Coil and get adoption

Episode links:

Thank you to our sponsors for their support:

The open, decentralized trading protocol for ERC20 tokens using the Dutch auction mechanism. More at epicenter.tv/dutchx.
Deploy enterprise-ready consortium blockchain networks that scale in just a few clicks. More at aka.ms/epicenter.

This episode is hosted by Brian Fabian Crain and Sunny Aggarwal. Show notes and listening options: epicenter.tv/261

Ben Sharafian & Stefan Thomas: Coil – A New Business Model for the Web