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Coil: Building a New Business Model for the Web

Stefan Thomas
May 14, 2018 · 4 min read
“Welp, too many ads I guess…”

Refactoring the Web Economy

We need an open marketplace that makes it easy for everybody on the web to compensate and support one another: the curators, the subscription services, the content creators and, of course, the users.

Imagine an open protocol that provides a third option outside of the advertising and site-by-site subscription models.

One of the reasons the ad-supported model is still so dominant is because payments technology wasn’t ready yet. Each payment currently requires multiple steps just to authorize it, let alone signing up with different merchants. We’ve worked with Microsoft, Google, Mozilla, and others to create the W3C Web Payments Request API that has been rolling out to billions of iOS and Android devices but we can go so much further. With the technologies we’ve helped build at Ripple — XRP and Interledger — we can process trillions of transactions per second without any central authority. What if we managed to apply these tools as a way to offer an alternative to today’s ad-supported web? Imagine an open protocol that provides a third option outside of the advertising and site-by-site subscription models. We think there’s a huge opportunity to grow a web industry that is collectively bigger than today’s monopolies, yet much more diverse and distributed.

One Small Step…

And that’s why I will be stepping down as CTO of Ripple to set up a new company called Coil. Coil will use Interledger to make the web a more vibrant market for apps and content, where everyone’s contributions are rewarded. We will be based in San Francisco and two amazing people who have conceived and supported this vision for years, Chris Larsen and Evan Schwartz, will join me as board members and guide us on this journey.

Coil will build on Interledger.
“Ready or not, here we go!” — Image courtesy of SpaceX

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Stefan Thomas

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Open-source developer and distributed systems advocate. Co-creator @Interledger. Founder @Coil.

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