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Coil, a micropayment service created by former Ripple employees, Stefan Thomas and Ben Sharafian, is trying to monetize web content. In a recent podcast with Epicenter, the couple spoke about the business model offered by Coil that aims to upset the online world by introducing an alternative to the advertising-oriented web industry.
Thomas Coil, the founder of Coil, began by highlighting a series of existing user experiences. For example, premium subscriptions where you need to register and sign up by entering your credit card details and the like. He mentioned an ad-based business model and added:
"Then there's the advertising-supported experience where it's free and maybe I do not even have to sign up but it's like there's ads in the face all the time, I do not really know if their privacy policy will be much to my favor, if it's more in favor of advertisers and this is just one type – take it or leave it. "
In addition, Thomas explained that Coil offers an alternative to these series of customer experiences. Monetize the web to avoid registration and the inclusion of any information in online portals. Customers will not even have to look at constant pop-up ads, he implied. Citing the risks of today's web services and contextualizing Coil's role in making it better, he said:
"His [Coil] just an experience designed to be as simple as possible. So imagine, as for a file upload site today, they have such horrible ads as these with the fake download button you click and then install malware on your computer. "
Subsequently, Coil's CTO, Ben Sharafian, also added a few words to legitimize Coil's role in disturbing the way people look at the web. He said that privacy is significant for the model pushed by Coil. He also announced that web monetization will allow websites to forget the user after choosing to go offline and remain anonymous.
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