The possibilities of blockchain technology and cryptocurrencies are really unlimited. Especially when it comes to empowering users to take control of the monetization of the content they generate and consume. This is why the Coil Web Monetization plugin is so important, and that is why we bring you 5 key points to understanding Ripple’s alliance with WordPress.
1- The current business model
We start our recount of the 5 most important points to understand Ripple’s alliance with WordPress with something we all know. And it is public and notorious that the Internet is currently about advertising.
This is the main source of income for web-based companies. Use of its users’ data to sell segmented and personalized advertising to companies. Those who can reach their target customers quickly and easily in this way.
This model is not only used by large companies like Facebook or Google. It is also the core of the business model of most WordPress based websites. Where the creators try to generate interesting content, attract the users, consume the advertising and leave a profit to the content creator.
2- what is coil?
Coil is a startup born in 2018, whose goal is to change the internet business model. Allow developers to find alternative ways like Ripple to fund the creation of original content. At the same time, network users can reward their favorite creators for their content.
Thanks to the various tools developed by Coil. Users of this platform can receive money for the visualization of their creations by other coil users. Take the collection and sale of personal data out of the equation to generate advertising.
3- The role of ripple
In this sense, Coil’s goals are fully compatible with those of Ripple. Well, the crypto company has been dedicated to creating mechanisms to rationalize financial transactions worldwide since its inception. Reduce waiting times and commissions for making cross-border payments. And thus empower the poorest population to transfer their money seamlessly across borders.
Ultimately, both Coil and Ripple are trying to break with the business models that users take advantage of. Allow them to have the product of their work more freely. Share it on the Internet and calculate or send money wherever you want, when you want.
4- Coil path monetization and ripple
This is where the new plugin comes in, developed by Coil and compatible with Ripple: The Coil Web Monetization. It can be integrated by WordPress users on their websites and enables content creators to collect a certain amount of money for their blog views from other coil users.
These payments can be made with Uphold via a platform wallet integrated in the plugin, which enables access to more than 50 currencies. Or via Ripple so that those who want to trade cryptocurrencies can do so.
In addition, the coil plugin enables content creators to offer special advantages to coil users who work with Ripple or another currency. No matter whether it is ad-free surfing on websites or premium content that is only available to them
5- A new business model based on the crypto world
We close these 5 key points to understand the integration of Ripple and WordPress based on coil, and comment on what is turning the crypto world into a new business model inspired by blockchain technology. What tries to respect user privacy while at the same time rewarding content creators for their efforts.
Services like Coil Web Monetization or Brave Browser create a new way of doing business on the Internet. This uses technologies like blockchain and products like Ripple to create a more private and secure virtual ecosystem for everyone.