This has been made possible thanks to Stefan Thomas, who used to work for Ripple Labs previously. The San-Francisco-based firm has introduced its beta version of the Coil browser extension application. It facilitates direct tipping of content creators using Ripple currency.
Despite the fact that the idea has been allegedly peeked from ChangeTip, which is a BTC tipping application that is not running anymore, the company has set up its promotion by describing itself a solution to the currently existing internet supported by advertising.
According to Thomas, the idea of introducing micropayments to settle the content creators has been around for more than ten years, although nobody managed to introduce a viable and open system, which would be able to capture the big variety of internet content.
Coil is, in fact, a pioneer in terms of utilizing Web Monetization for paying out websites. That is a standard backed by the Interledger, enabling browsers to pay websites. Coil strives to establish compatibility with most of the popular names in the online industry, such as Twitch, YouTube, Beat, Wikipedia, etc.
The launch of the Coil application brings along plenty of possibilities for further adoption, especially regarding the content based on subscription. Overall, Coil can substantially change the way online content creators work and make money.