Coil, a micropayments service built by former Ripple employees, Stefan Thomas and Ben Sharafian, is looking to monetize web content. In a recent podcast with Epicenter, the pair talked about the business model offered by Coil that aims to disrupt the online world by introducing an alternative to the advertisement oriented web industry.
Thomas Stefan, the Founder of Coil began by highlighting a set of user experiences that already exist. For instance, premium memberships where one has to sign up and subscribe by entering credit card details and suchlike. He mentioned an ad-based business model and added:
Further, Thomas explained that Coil offers an alternative to these set of customer experiences. It monetizes the web to avoid signing up and entering any information into the online portals. The customers will not have to look at the constant advert pop-ups either, he implied. Citing the risks of today’s web services and contextualizing Coil’s role in making it better, he stated:
“It’s [Coil] just an experience that’s designed to be as frictionless as possible. So imagine, like for a file upload website today, they have like these fairly horrible ads with like the fake download button that you click and then it installs malware on your computer.”
Next, the CTO of Coil, Ben Sharafian, also added a few words to legitimize Coil’s role in disrupting the way people look at the web. He stated that privacy is significant to the model pushed by Coil. He also conveyed that web monetization will allow the websites to forget the user after they choose to go offline and maintain their anonymity.
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